2015 - 2016 LEGISLATURE
January 15, 2016 - Introduced by Senators Petrowski and Tiffany, cosponsored by
Representatives Heaton, Edming, Spiros and Czaja. Referred to Committee
on Economic Development and Commerce.
1An Act to repeal
20.192 (1) (d); and to create
20.192 (1) (d) of the statutes; 2relating to: providing a grant to the Marathon County Development
3Corporation for a revolving loan program and making an appropriation.
Analysis by the Legislative Reference Bureau
This bill directs the Wisconsin Economic Development Corporation to grant
$200,000 in the 2015-17 fiscal biennium to the Marathon County Economic
Development Corporation to fund a revolving loan program for the purpose of
funding minority-owned businesses.
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:
20.005 (3) (schedule) of the statutes: at the appropriate place, insert 5
the following amounts for the purposes indicated:
- See PDF for table
20.192 (1) (d) of the statutes is created to read:
(d) Marathon County Development Corporation grant.
the amounts in the schedule for the purpose specified in 2015 Wisconsin Act .... (this 4
act), section 4 (2).
20.192 (1) (d) of the statutes, as created by 2015 Wisconsin Act .... 6
(this act), is repealed.
In this section, "minority-owned business" means a sole 9
proprietorship, partnership, limited liability company, joint venture, or corporation 10
that is at least 30 percent owned by a minority group member or members, as defined 11
in section 16.287 (1) (f) of the statutes, who are U.S. citizens or persons lawfully 12
admitted to the United States for permanent residence, as defined under 8 USC 1101 13
Revolving loan fund grant
. From the appropriation under section 20.192 15
(1) (d) of the statutes, the Wisconsin Economic Development Corporation shall grant 16
$200,000 to MCDEVCO, Inc., doing business as the Marathon County Development 17
Corporation, in the 2015-2017 fiscal biennium for a revolving loan program for 18
minority-owned businesses in Marathon County.
This act takes effect on the day after publication, 2
except as follows:
The repeal of section 20.192 (1) (d) of the statutes takes effect on July 1, 4