SB433: Bill Text

LRB-2708/1

MPG:kjf

2021 - 2022 LEGISLATURE

2021 Senate BILL 433

June 24, 2021 - Introduced by Senators Wimberger and Jacque, cosponsored by Representatives Tauchen, Steffen, Mursau and Shelton. Referred to Committee on Agriculture and Tourism.

SB433,1,3 An Act to amend 13.48 (20m) (c); and to create 13.48 (20m) (dm) of the statutes; relating to: loan to the Greater Green Bay Convention and Visitor Bureau for the construction of a visitor information and education center.

Analysis by the Legislative Reference Bureau

Under current law, the Building Commission may authorize up to $25,000,000 in general fund supported borrowing to assist construction of projects having a public purpose. This bill authorizes the Building Commission to use that borrowing authority to award an interest-free loan in the amount of $2,000,000 to the Greater Green Bay Convention and Visitor Bureau to assist in the construction of a visitor information and education center located in Brown County.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

SB433,1 Section 1 . 13.48 (20m) (c) of the statutes, as created by 2019 Wisconsin Act 9, is amended to read:

SB433,1,8 13.48 (20m) (c) The building commission may authorize up to $25,000,000 in general fund supported borrowing under par. (b), including $2,000,000 for the project specified in par. (dm) 1.

SB433,2 Section 2. 13.48 (20m) (dm) of the statutes is created to read:

SB433,2,7 13.48 (20m) (dm) 1. The legislature finds and determines that the tourism industry is of vital importance in creating jobs and contributing to economic development and tourism in this state and is a statewide responsibility of statewide dimension. It is therefore in the public interest, and it is the public policy of this state, to assist the Greater Green Bay Convention and Visitor Bureau in the construction of a visitor information and education center in Brown County.

SB433,2,11 2. In the 2019-21 fiscal biennium, the building commission shall award a loan in the amount of $2,000,000 to the Greater Green Bay Convention and Visitor Bureau for the purpose of assisting the project specified in subd. 1. The term of the loan may not exceed 20 years from the date of issuance and interest shall not accrue.

SB433,2,12 (End)