Rural Economic Development Fund Bill Passes Joint Finance Committee 16-0
Tranel’s Amendment to Help County and Regional Revolving Loan Funds Passes
MADISON – Today the Joint Finance Committee (JFC) voted to pass the Rural Economic Development Fund legislation (AB 912) out of committee as amended 16-0.
“I’m very excited this important legislation moved forward in a strong bipartisan way. I appreciate the support of Co-Chairs Darling and Nygren and the rest of the committee,” said Tranel. “It is very important that our rural communities across the state have the resources they need to grow and prosper.”
The Rural Economic Development Fund was proposed by Governor Walker in his State of the State address and creates a fund to invest $1 billion into 56 rural Wisconsin counties over the next twenty years. Rep. Tranel is the lead Assembly author of the legislation.
In addition to allowing WEDC to create new and innovative programs to assist in rural economic development, the amended version of the bill also calls for a direct infusion of cash to qualified local county economic development organizations.
“Our local economic development teams do a fantastic job on a very limited budget. I’m excited that the legislature has recognized their ability to enhance local economic development,” said Tranel.
Now that the legislation has passed out of committee it will move forward to be considered by the full State Senate and State Assembly.