LRB-0677/P5
MPG:wlj/cjs/emw
2021 - 2022 LEGISLATURE
DOA:......Quinn, BB0202 - WEDC funding increase; financial assistance for underserved communities
For 2021-2023 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
commerce and economic development
Economic development
Increase to WEDC GPR appropriation
This bill increases from $16,512,500 per fiscal year under current law to $25,012,500 in the 2021-22 fiscal year and $20,012,500 in the 2022-23 fiscal year the amount WEDC may expend from its GPR appropriation for its economic development programs.
Financial assistance for underserved communities
This bill requires WEDC to expend $5,000,000 annually to provide grants, loans, and other assistance to underserved communities in Wisconsin, including members of minority groups, woman-owned businesses, and individuals and businesses in rural areas.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section
1. 20.192 (1) (a) of the statutes is amended to read:
20.192 (1) (a) Operations and programs. A sum sufficient in each fiscal year equal to the amount obtained by subtracting from $56,550,700 in fiscal year 2021-22, $51,550,700 in fiscal year 2022-23, and $41,550,700
in each fiscal year thereafter an amount equal to the sum of the amounts expended in that fiscal year from the appropriations under pars. (r) and (s), for the operations of the Wisconsin Economic Development Corporation and for funding economic development programs developed and implemented under s. 238.03. No more than $16,512,500 may be expended from this appropriation in any fiscal year, except that no more than $25,012,500 may be expended from this appropriation in fiscal year 2021-22 and no more than $20,012,500 may be expended from this appropriation in fiscal year 2022-23, and moneys may be expended from this appropriation only if there are no unencumbered moneys available in the appropriation account under par. (r).
Section
2. 238.139 of the statutes is created to read:
238.139 Financial assistance for underserved communities. The corporation shall expend $5,000,000 annually to provide grants, loans, and other assistance to underserved communities in this state, including members of minority groups, woman-owned businesses, and individuals and businesses in rural areas.
(End)
