LRB-3529/1
PJK:jrd:kaf
1995 - 1996 LEGISLATURE
May 16, 1995 - Introduced by Senators Leean, Ellis and Rude, by request of
Governor Tommy G. Thompson. Referred to Committee on Transportation,
Agriculture and Local Affairs.
SB187,1,3
1An Act to amend 234.907 (1) (g) and 234.907 (2) (h) of the statutes;
relating to:
2loans eligible for guarantee under the agricultural development loan guarantee
3program.
Analysis by the Legislative Reference Bureau
Under the agricultural development loan guarantee program in current law,
the Wisconsin housing and economic development authority (WHEDA) guarantees
certain loans made by private lenders for working capital or to finance a physical
plant, machinery or equipment or marketing expenses. The working capital or what
is financed must be used to process or market a product from a raw agricultural
commodity produced in this state or to commercially harvest whitefish from Lake
Superior. A loan that results in new or more viable methods for processing or
marketing a product from a raw agricultural commodity is eligible for guarantee.
This bill changes that provision so that a loan that results in job creation or retention
in this state is eligible for guarantee. In addition the bill adds milk by-products to
the definition of a raw agricultural commodity. The definition already includes milk
and milk products.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB187, s. 1
4Section
1. 234.907 (1) (g) of the statutes is amended to read:
SB187,2,25
234.907
(1) (g) "Raw agricultural commodity" means any agricultural,
6aquacultural, horticultural, viticultural, vegetable, poultry, and livestock products
7produced in this state, including milk and milk products
or by-products, bees and
1honey products, timber and wood products, or any class, variety or utilization of the
2products, in their natural state.
SB187, s. 2
3Section
2. 234.907 (2) (h) of the statutes is amended to read:
SB187,2,84
234.907
(2) (h) The loan results in
new or more viable methods for the
5processing or marketing of a product from a raw agricultural commodity job creation
6or retention in this state or enables the borrower to comply with the rules
7promulgated by the department of natural resources for the commercial fishing of
8whitefish in Lake Superior.
