SB 393

The Minority Business Grants and Loans Program (program), administered by

the Department of Commerce (department), and the Minority Business

Development Board (board) in the department, were eliminated by

2009 Wisconsin

Act 28

(the biennial budget act). Under the program, the board was authorized to

award a grant or loan to a minority group member, a minority business, certain

nonprofit organizations, or private financial institutions. Minority group member

was defined to mean any of the following persons: a) a black; b) a Hispanic; c) an

American Indian; d) an Eskimo; e) an Aleut; f) a native Hawaiian; g) an

Asian-Indian; h) a person of Asian-Pacific origin. Minority business was defined to

mean a sole proprietorship, partnership, limited liability company, joint venture, or

corporation with a principal place of business in Wisconsin that fulfilled both of the

following requirements: it is at least 51 percent owned, controlled and actively

managed by a minority group member or members who are U.S. citizens or persons

lawfully admitted to the United States for permanent residence, and it is currently

performing a useful business function. The recipient of a grant or loan under the

program was required to undertake certain eligible activities, including education

and training projects or the start-up, expansion, or acquisition of a business.

This bill restores the board and the program as it existed before the biennial

budget act.