2017 - 2018 LEGISLATURE
ASSEMBLY SUBSTITUTE AMENDMENT 1,
TO ASSEMBLY BILL 963
February 22, 2018 - Offered by Representatives Stuck, Barca, Berceau, Billings,
Considine, Genrich, Hebl, Hesselbein, Hintz, Kessler, Meyers, Ohnstad,
Pope, Riemer, Shankland, Subeck, Wachs and Zamarripa.
AB963-ASA1,1,4
1An Act to amend 20.490 (1) (title); and
to create 20.490 (1) (c) and 234.66 of the
2statutes;
relating to: revolving loan funds administered by the Wisconsin
3Housing and Economic Development Authority for certain activities of paper
4mills and making an appropriation.
Analysis by the Legislative Reference Bureau
This substitute amendment requires the Wisconsin Housing and Economic
Development Authority to do all of the following:
1. Establish a $30,000,000 revolving loan fund to assist paper mills in this state
to transition to the manufacture of brown paper products.
2. Establish a $30,000,000 revolving loan fund to assist paper mills in this state
to undertake energy efficiency upgrades in the manufacture of paper products.
The substitute amendment requires WHEDA to establish policies and
procedures implementing the revolving loan fund program under the substitute
amendment, including job retention requirements. Additionally, under the
substitute amendment, the revolving loan funds must satisfy all of the following
requirements:
1. Each loan must be interest free.
2. No business may receive more than $3,000,000 in loans from the revolving
loan funds combined.
3. Each loan must be repaid on at least a quarterly basis and must be repaid
in full over a period of no more than five years.
4. The five-year or less repayment period for each loan may not begin until
after installation of the project funded by the loan is complete, as determined
WHEDA.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB963-ASA1,1
1Section 1
. 20.005 (3) (schedule) of the statutes: at the appropriate place, insert
2the following amounts for the purposes indicated:
-
See PDF for table 
AB963-ASA1,2
3Section 2
. 20.490 (1) (title) of the statutes is amended to read:
AB963-ASA1,2,44
20.490
(1) (title)
Facilitation of construction and other assistance.
AB963-ASA1,3
5Section 3
. 20.490 (1) (c) of the statutes is created to read:
AB963-ASA1,2,86
20.490
(1) (c)
Paper mills revolving loan fund program. As a continuing
7appropriation, the amounts in the schedule for the paper mill revolving loan fund
8program under s. 234.66.
AB963-ASA1,4
9Section
4. 234.66 of the statutes is created to read:
AB963-ASA1,2,12
10234.66 Paper mills revolving loan funds. (1) The authority shall establish
11a $30,000,000 revolving loan fund to assist paper mills in this state to transition to
12the manufacture of brown paper products.
AB963-ASA1,3,3
1(2) The authority shall establish a $30,000,000 revolving loan fund to assist
2paper mills in this state to undertake energy efficiency upgrades in the manufacture
3of paper products.
AB963-ASA1,3,5
4(3) The revolving loan funds under subs. (2) and (3) shall satisfy all of the
5following requirements:
AB963-ASA1,3,66
(a) Each loan made from the revolving loan funds shall be interest free.
AB963-ASA1,3,87
(b) No business may receive more than a total of $3,000,000 in loans from the
8revolving loan funds combined.
AB963-ASA1,3,109
(c) Each loan made from the revolving loan funds shall be repaid on at least a
10quarterly basis and shall have an amortization period of no more than 5 years.
AB963-ASA1,3,1211
(d) The amortization period under par. (c) may not begin until after installation
12of the project funded by the loan is complete, as determined by the authority.
AB963-ASA1,3,15
13(4) The authority shall establish policies and procedures implementing the
14revolving loan program under this section. The policies and procedures shall include
15job retention requirements for the revolving loan funds under subs. (1) and (2).
