LRB-4129/2
AJM:ahe
2015 - 2016 LEGISLATURE
January 20, 2016 - Introduced by Representatives Tranel and Novak, cosponsored
by Senator Marklein. Referred to Committee on Jobs and the Economy.
AB764,1,3
1An Act to repeal 20.505 (1) (fv); and
to create 20.505 (1) (fv) of the statutes;
2relating to: providing an economic development grant to Prosperity
3Southwest Wisconsin and making an appropriation.
Analysis by the Legislative Reference Bureau
This bill directs the Department of Administration to grant $500,000 to
Prosperity Southwest Wisconsin to fund a revolving loan program for the purpose of
funding regional economic development and entrepreneurial start-ups. The bill
transfers $500,000 from the Wisconsin Economic Development Corporation's
general programs and operations appropriation to the department for the purpose
of administering the grant.
For further information see the state and local 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:
AB764,1
4Section
1. 20.005 (3) (schedule) of the statutes: at the appropriate place, insert
5the following amounts for the purposes indicated:
-
See PDF for table 
AB764,2
1Section
2. 20.505 (1) (fv) of the statutes is created to read:
AB764,2,32
20.505
(1) (fv)
Prosperity Southwest Wisconsin grant. The amounts in the
3schedule for the purpose specified in 2015 Wisconsin Act .... (this act), section 4 (1).
AB764,3
4Section
3. 20.505 (1) (fv) of the statutes, as created by 2015 Wisconsin Act ....
5(this act), is repealed.
AB764,4
6Section
4
.
Nonstatutory provisions.
AB764,2,117
(1)
Revolving loan fund grant. In the fiscal year 2016-17, from the
8appropriation under section 20.505 (1) (fv) of the statutes, the department of
9administration shall grant $500,000 to Prosperity Southwest Wisconsin for a new
10revolving loan program in the southwest region of the state to promote regional
11economic development and entrepreneurial start-ups.
AB764,5
12Section
5.
Fiscal changes.
AB764,2,1713
(1)
Economic development grant funds. In the schedule under section 20.005
14(3) of the statutes for the appropriation to the Wisconsin Economic Development
15Corporation under section 20.192 (1) (a) of the statutes, as affected by the acts of
162015, the dollar amount for fiscal year 2016-17 is decreased by $500,000 for the
17purpose of administering the grant provided under
Section 4 (1
) of this act.
AB764,6
18Section
6.
Effective dates. This act takes effect on the day after publication,
19except as follows:
AB764,3,2
1(1)
The repeal of section 20.505 (1) (fv) of the statutes takes effect on July 1,
22017.
