Amendment AA2-AB895

LRBa1295/1

MPG:cdc

2019 - 2020 LEGISLATURE

ASSEMBLY AMENDMENT 2, TO ASSEMBLY BILL 895

February 20, 2020 - Offered by Representative Krug.

AB895-AA2,1,1 At the locations indicated, amend the bill as follows:

AB895-AA2,1,3 1. Page 1, line 3: after “facilities," insert “a grant to the Incourage Community Foundation for the construction of an economic development and community hub,".

AB895-AA2,1,4 2. Page 3, line 2: after that line insert:

AB895-AA2,1,6 “ Section 1g. 13.48 (20m) (c) of the statutes, as created by 2019 Wisconsin Act 9, is amended to read:

AB895-AA2,1,9 13.48 (20m) (c) The building commission may authorize up to $25,000,000 in general fund supported borrowing under par. (b), including up to $3,000,000 for the project described in par. (d).

AB895-AA2,1h Section 1h. 13.48 (20m) (d) of the statutes is created to read:

AB895-AA2,2,5 13.48 (20m) (d) 1. The legislature finds and determines that supporting entrepreneurs and innovators, providing facilities for job training, and promoting dynamic community revitalization and development are of vital importance in creating jobs and contributing to economic development and tourism in this state and are statewide responsibilities of statewide dimension. It is therefore in the public interest, and it is the public policy of this state, to assist the Incourage Community Foundation, Inc., in redeveloping the former Daily Tribune building in the city of Wisconsin Rapids into an economic and community hub.

AB895-AA2,2,13 2. The building commission may under this subsection assist the Incourage Community Foundation, Inc., in redeveloping the former Daily Tribune building in the city of Wisconsin Rapids into an economic and community hub. The state funding commitment shall be in the form of a grant to the Incourage Community Foundation, Inc. Before approving any state funding commitment for redeveloping the former Daily Tribune building, the building commission shall determine that the Incourage Community Foundation, Inc., has secured additional funding for the project from nonstate revenue sources at least equal to the state's grant.

AB895-AA2,2,18 3. If the building commission authorizes a grant to the Incourage Community Foundation, Inc., under subd. 2., and if, for any reason, the facility that is redeveloped with funds from the grant is not used for an economic and community hub, the state shall retain an ownership interest in the facility equal to the amount of the state's grant.”.

AB895-AA2,2,19 (End)