Amendment AA1-AB912

LRBa2012/1

MPG:cdc&amn

2017 - 2018 LEGISLATURE

ASSEMBLY AMENDMENT 1, TO ASSEMBLY BILL 912

February 9, 2018 - Offered by Representative Tranel.

AB912-AA1,1,1 At the locations indicated, amend the bill as follows:

AB912-AA1,1,2 1. Page 4, line 19: after that line insert:

AB912-AA1,1,4 “(3m) Rural economic development grants. From the appropriation under s. 20.192 (1) (bm), the corporation shall do the following:

AB912-AA1,1,8 (a) Award a onetime grant of $250,000 to each rural county and to each regional economic development organization that serves a rural county. A rural county or regional economic development organization receiving a grant under this paragraph shall do all of the following:

AB912-AA1,1,11 1. Expend the grant moneys only for the purpose of creating or expanding a revolving loan fund that promotes economic development and entrepreneurial start-ups in the rural county.

AB912-AA1,2,3 2. Ensure that any revolving loan fund that is funded by the grant is administered by personnel qualified by education or experience to manage a revolving loan fund.

AB912-AA1,2,6 (b) Award a grant of up to $50,000 per fiscal year to each county economic development organization and each regional economic development organization that serves a rural county, subject to all of the following:

AB912-AA1,2,9 1. A county or regional economic development organization receiving a grant under this paragraph shall expend the grant moneys only for the purpose of program operations and marketing within the rural county served by the organization.

AB912-AA1,2,13 2. A county or regional economic development organization receiving a grant under this paragraph shall submit an annual report to the Wisconsin Economic Development Corporation concerning the organization's use of all grant moneys. The report shall include all of the following:

AB912-AA1,2,15 a. A description and estimate of the number of all jobs created or retained as a result of the grant.

AB912-AA1,2,17 b. A description and estimate of the number of all entrepreneurial ventures created as a result of the grant.

AB912-AA1,2,19 c. A description and estimate of the number of all out-of-state direct investments occurring as a result of the grant.

AB912-AA1,2,21 d. A description and estimate of the number of businesses retained or expanded as a result of the grant.

AB912-AA1,2,22 e. A description of all marketing efforts undertaken as a result of the grant.

AB912-AA1,3,2 3. A rural county served by a county or regional economic development organization receiving a grant under this paragraph may not reduce its aid to the county or regional economic development organization based solely on the organization's receipt of a grant under this paragraph.

AB912-AA1,3,5 (c) Award a grant of up to $250,000 per project to each municipality in a rural county for infrastructure projects undertaken for business parks and new housing construction within the rural county.”.

AB912-AA1,3,6 (End)