AB 580

Currently, the Department of Revenue, in consultation with the Wisconsin

Economic Development Corporation, administers a grant program for small

businesses using moneys received from the federal government under the American

Rescue Plan Act of 2021. The program is referred to as the Wisconsin Tomorrow

Small Business Recovery Program and provides grants to businesses that

experienced an economic loss as a result of the pandemic. A business is eligible to

receive a grant, generally, if it had more than $10,000, but less than $7,000,000, in

annual revenue.

This bill requires DOR, in consultation with WEDC, to use the moneys

allocated to the WTSBRP that are not used to provide grants before the bill's effective

date to provide each city and village in the state that received or is eligible to receive

$2,500,000 or less in combined grants or awards under the federal Coronavirus Aid,

Relief, and Economic Security Act of 2020, the Coronavirus Response and

Consolidated Appropriations Act of 2020, and the American Rescue Plan Act of 2021

with a share of the unused moneys. The cities and villages must use the grant

moneys to provide grants to small businesses or for development of the downtown

area of the city or village. Under the bill, no city or village may use the moneys unless

the governing body of the city or village approves that use by no less than a

two-thirds vote of the majority of the members of the governing body.

The bill distributes to each city and village that received or is eligible to receive

up to $1,250,000 in combined federal grants or awards an equal share of 50 percent

of the unspent WTSBRP moneys. The other 50 percent of the unspent moneys is

distributed to each city and village that received or is eligible to receive more than

$1,250,000, but not more than $2,500,000, in combined federal grants or awards so

that each such city and village receives an equal share of the unspent amount.