SB721: Bill Text

LRB-5370/1

MPG:amn

2019 - 2020 LEGISLATURE

2019 Senate BILL 721

January 24, 2020 - Introduced by Senator Jacque, cosponsored by Representatives Tauchen, Steffen, Kitchens, Macco, Mursau, Rohrkaste, Steineke, Tittl, Tusler, Gruszynski and Stuck. Referred to Committee on Local Government, Small Business, Tourism and Workforce Development.

SB721,1,4 An Act to create 16.299 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 and authorizing general fund supported borrowing to fund the loan.

Analysis by the Legislative Reference Bureau

This bill requires the Department of Administration 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 bill authorizes $2,000,000 in general fund supported borrowing authority to finance the loan.

Under 2019 Wisconsin Act 9, the biennial budget act, the Building Commission is authorized to award moneys for construction projects having a public purpose and may authorize up to $25,000,000 in general fund supported borrowing for that purpose. This bill delegates to DOA the Building Commission's authority to make such an award for purposes of the loan under the bill. The bill also authorizes $2,000,000 in general fund supported borrowing in lieu of the Building Commission doing so pursuant to Act 9. Under the bill, DOA, with the advice of bond counsel, establishes appropriate terms and conditions for contracting the public debt authorized in the bill and supervises all matters relating to contracting the debt.

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:

SB721,1 Section 1. 16.299 of the statutes is created to read:

SB721,2,8 16.299 Loan for visitor information and education center. (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.

SB721,2,14 (2) In the 2019-21 fiscal biennium and from the general fund supported borrowing authorized under 2019 Wisconsin Act .... (this act), section 2 (1 ), the department 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 sub. (1). The term of the loan may not exceed 20 years from the date of issuance and interest shall not accrue.

SB721,2 Section 2 . Nonstatutory provisions.

SB721,2,17 (1) Borrowing authorization for loan to the Greater Green Bay Convention and Visitor Bureau.

SB721,2,19 (a) The legislature finds and determines that the project specified in s. 16.299 (1) is a project within the meaning of s. 13.48 (20m).

SB721,3,5 (b) Notwithstanding ss. 18.03 and 18.04, of the amount specified in s. 13.48 (20m) (c), there is authorized by law $2,000,000 in general fund supported borrowing for the purpose of awarding the loan under s. 16.299. The authority of the building commission to make an award under s. 13.48 (20m) is hereby delegated to the department of administration for the purpose of awarding the loan under s. 16.299. Accordingly, for purposes of ss. 20.866 (2) (zcw) and 20.867 (3) (cw), the loan shall be considered an award of the building commission under s. 13.48 (20m).

SB721,3,11 (c) This subsection shall be an authorizing resolution for purposes of s. 18.06, except that the building commission has no authority under s. 18.06 (1) to amend the purpose of the debt. The department of administration shall, upon the advice of bond counsel, establish additional terms and conditions under s. 18.06 for the contracting of public debt under this subsection and shall supervise all other matters relating to contracting the debt.

SB721,3,12 (End)