FOR IMMEDIATE RELEASE:
March 11th, 2022
Contact: Senator Robert Cowles: (608) 266-0484
New Law Provides Accountability and Transparency for a State Loan Program
MADISON– Senator Robert Cowles (R-Green Bay) released the following statement after 2021 Senate Bill 606, which he authored with Representative Alex Dallman (R-Green Lake), was signed into law today as 2021 Wisconsin Act 170:
“The State of Wisconsin should not be operating loan programs without abundant transparency and clear accountability. Fortunately, for most state programs, previous Republican reforms have created that accountability and transparency, and as Co-Chair of the Joint Legislative Audit Committee, I’ve been fortunate enough to oversee many of those efforts. Act 170 is the next step in this ongoing mission to ensure accountability and transparency across state government by creating reporting and disclosure requirements on a little known and barley reported state loan program known as the Transportation Infrastructure Bank.”
2021 Wisconsin Act 170 requires the state Department of Transportation (DOT) to publish pertinent program information on its website such as the application, the application process, previously funded projects, and the conditions of funding. Act 170 also requires DOT to report each new funding agreement to the Legislature.