2017 - 2018 LEGISLATURE
February 13, 2018 - Offered by Joint Committee on Finance.
AB912-AA4,1,11 At the locations indicated, amend the bill as follows:
AB912-AA4,1,2 21. Page 4, line 19: after that line insert:
AB912-AA4,1,7 3(3g) Grants for revolving loan funds. (a) In this subsection and in sub. (3r),
4“eligible organization” means each county economic development organization
5serving a rural county and each regional economic development organization serving
6a rural county that the corporation determines under par. (d) is eligible for a grant
7under par. (c).
AB912-AA4,1,98 (b) From the appropriation under s. 20.192 (1) (bm), the corporation shall
9allocate $5,000,000 for grants under this subsection.
AB912-AA4,2,510 (c) The corporation shall award a onetime grant of $250,000 to each eligible
11organization, or shall grant a smaller amount if the eligible organization so elects.
12The corporation may award a onetime grant of more than $250,000 to a consortium
13of rural counties, or to a consortium of eligible organizations in lieu of a grant to

1individual counties that are members of the consortium. An eligible organization or
2a consortium receiving a grant under this paragraph shall expend the grant moneys
3only for the purpose of creating or expanding a revolving loan fund that promotes
4economic development and entrepreneurial start-ups in a rural county served by the
5eligible organization or in rural counties served by the consortium.
AB912-AA4,2,96 (d) In determining whether a county economic development organization
7serving a rural county or regional economic development organization serving a
8rural county is eligible for a grant under par. (c), the corporation shall consider all
9of the following:
AB912-AA4,2,1110 1. Whether the organization has appropriate fiscal and administrative policies
11and procedures in place.
AB912-AA4,2,1312 2. Whether the organization's staff is sufficient and qualified by education or
13experience to administer a revolving loan fund.
AB912-AA4,2,1614 3. Whether the organization can provide at least 2 examples of projects
15financed with public funding that the organization has taken from grant application
16to project completion.
AB912-AA4,2,1817 4. Whether the organization has experience or a history of serving the
18community with economic development projects.
AB912-AA4,2,22 19(3r) Grants for program operations and marketing. (a) From the
20appropriation under s. 20.192 (1) (bm), the corporation shall award a onetime grant
21of $50,000 to each eligible organization, or shall grant a smaller amount if the eligible
22organization so elects, subject to all of the following:
AB912-AA4,2,2523 1. The eligible organization shall expend all grant moneys received under this
24paragraph only for the purpose of program operations and marketing within a rural
25county served by the eligible organization.
12. The eligible organization shall submit a report to the corporation no later
2than 180 days after the last day of the state fiscal year in which the grant is awarded
3concerning the organization's use of the grant under this paragraph. The report shall
4include a description of all marketing efforts undertaken as a result of the grant.
AB912-AA4,3,75 (b) A rural county served by an eligible organization receiving a grant under
6par. (a) may not use or depend on grant moneys to support existing funding for
7economic development purposes.”.
AB912-AA4,3,8 82. Page 5, line 7: delete “sub. (2)" and substitute “this section".
AB912-AA4,3,9 93. Page 5, line 7: after that line insert:
AB912-AA4,3,12 10(5m) Focus on underserved communities. In administering this section, the
11corporation shall make every effort to ensure that underserved communities in rural
12counties are prioritized.”.