DOA:......Quinn, BB0357 - Increasing funding for Green Innovation Fund
For 2025-2027 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
COMMERCE AND ECONOMIC DEVELOPMENT
Economic development
Funding for the Green Innovation Fund
This bill increases by $50,000,000 the amount WEDC may expend from its GPR appropriation for general operations and economic development programs in fiscal year 2025-26 for the purpose of supporting the Green Innovation Fund.
For further information see the state 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:
Section 9149. Nonstatutory provisions; Wisconsin Economic Development Corporation.
(1) Funding for the Green Innovation Fund. Notwithstanding the cap on expenditures specified in s. 20.192 (1) (a), in fiscal year 2025-26, the amount the Wisconsin Economic Development Corporation may expend from the appropriation under s. 20.192 (1) (a) is increased by $50,000,000 for the purpose of supporting the Green Innovation Fund as it existed on January 1, 2025. In this subsection, “Green Innovation Fund” means the green bank, known as the Green Innovation Fund, administered by the Wisconsin Economic Development Corporation in collaboration with the Department of Administration based on the advice of the Governor’s Green Ribbon Commission on Clean Energy and Environmental Innovation established by executive order 195, issued April 19, 2023.
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