Amendment AU7 SA7-SSA1-AB1

LRBa1173/1

MPG:emw&ahe

August 2017 Special Session

2017 - 2018 LEGISLATURE

SENATE AMENDMENT 7, TO SENATE SUBSTITUTE AMENDMENT 1, TO ASSEMBLY BILL 1

September 12, 2017 - Offered by Senators Vinehout, Larson, L. Taylor, Carpenter, Erpenbach, Risser, Johnson, Miller, Ringhand, Shilling, Bewley, Wirch and Hansen.

AB1-SSA1-SA7,1,1 At the locations indicated, amend the substitute amendment as follows:

AB1-SSA1-SA7,1,4 1. Page 2, line 10: after “procedures;" insert “review of contracts executed by the Wisconsin Economic Development Corporation awarding grants, loans, or tax credits;".

AB1-SSA1-SA7,1,5 2. Page 29, line 8: after that line insert:

AB1-SSA1-SA7,1,6 “ Section 48o. 238.043 of the statutes is created to read:

AB1-SSA1-SA7,2,2 238.043 Contract review. (1) Prior to executing each contract awarding a grant, loan, or tax credit of at least $5,000,000, the corporation shall submit the proposed contract to the legislative audit bureau for review. The legislative audit bureau shall review the proposed contract and submit to the joint committee on finance, the joint legislative audit committee, and the corporation a report that evaluates the terms of the contract and determines the extent to which the contract conforms to all applicable statutory and program policy requirements.

AB1-SSA1-SA7,2,13 (2) The corporation may not execute a contract subject to review under sub. (1) unless it first notifies the joint committee on finance in writing of the proposed contract. The notification shall include the proposed contract. If the cochairpersons of the committee do not notify the corporation within 14 working days after the date of the corporation's notification that the committee has scheduled a meeting for the purpose of reviewing the proposed contract, the corporation may execute the proposed contract. If, within 14 working days after the date of the corporation's notification, the cochairpersons of the committee notify the corporation that the committee has scheduled a meeting for the purpose of reviewing the proposed contract, the corporation may execute the proposed contract only upon approval of the committee.”.

AB1-SSA1-SA7,2,14 (End)