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LRB-4324/1
AJM:emw
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.
SB586,1,3 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:
SB586,1 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 PDF
SB586,2 1Section 2. 20.192 (1) (d) of the statutes is created to read:
SB586,2,42 20.192 (1) (d) Marathon County Development Corporation grant. Biennially,
3the amounts in the schedule for the purpose specified in 2015 Wisconsin Act .... (this
4act), section 4 (2).
SB586,3 5Section 3. 20.192 (1) (d) of the statutes, as created by 2015 Wisconsin Act ....
6(this act), is repealed.
SB586,4 7Section 4 . Nonstatutory provisions.
SB586,2,138 (1) Definition. In this section, "minority-owned business" means a sole
9proprietorship, partnership, limited liability company, joint venture, or corporation
10that is at least 30 percent owned by a minority group member or members, as defined
11in section 16.287 (1) (f) of the statutes, who are U.S. citizens or persons lawfully
12admitted to the United States for permanent residence, as defined under 8 USC 1101
13(a) (20).
SB586,2,1814 (2) 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
17Corporation, in the 2015-2017 fiscal biennium for a revolving loan program for
18minority-owned businesses in Marathon County.
SB586,5
1Section 5. Effective dates. This act takes effect on the day after publication,
2except as follows:
SB586,3,43 (1) The repeal of section 20.192 (1) (d) of the statutes takes effect on July 1,
42017.
SB586,3,55 (End)
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