DOA:......Quinn, BB0487 - Main street bounceback grants
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
Main street bounceback grants
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 awarding grants of $10,000 each to small businesses and nonprofit organizations that open a new location or expand operations in a vacant commercial space. A recipient of a grant under the bill may use grant moneys for commercial lease and mortgage payments, business operating expenses, and commercial building repair and tenant improvements.
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) Main street bounceback grants. 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 awarding grants of $10,000 each to small businesses and nonprofit organizations that open a new location or expand operations in a vacant commercial space. A recipient of a grant under this subsection may use grant moneys for commercial lease and mortgage payments, business operating expenses, and commercial building repair and tenant improvements.
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