AB 477

This bill authorizes the Wisconsin Economic Development Corporation

(WEDC) to award a grant of up to $3,000 to a new business for the business's

expenses related to hiring, as a paid intern, a student enrolled at an institution of

higher education who studies business, engineering, information technology, or a

similar field (entrepreneurial assistance grant). Under the bill, a new business is a

business organized in this state no earlier than five years before the business applies

for an entrepreneurial assistance grant. Additionally, if WEDC awards an

entrepreneurial assistance grant to three or more businesses to fund internships for

students enrolled at a single institution of higher education, and the institution

develops a program to support internships funded by these grants, WEDC may

award an additional grant of up to $25,000 to the institution. Finally, this bill

requires WEDC to allocate at least $125,000 in each fiscal year to fund grants

authorized under the bill and to submit a report on the effectiveness of those grants

to the legislature no later than February 1, 2017.