Grants awarded by the Wisconsin Economic Development Corporation for the purpose of attracting opportunities and events to Wisconsin. (FE)
Impact
The enactment of AB856 will introduce provisions that modify existing state laws related to economic development and grant administration. By requiring eligible applicants to present a project cost-benefit analysis before receiving funds, the bill emphasizes the need for accountability and strategic fiscal management. Furthermore, the WEDC is mandated to produce annual reports detailing grant usage, bringing a level of scrutiny and transparency to how public funds are allocated for event promotions. This shift aims to align state economic strategies with growth objectives while ensuring that investments yield positive returns.
Summary
Assembly Bill 856 intends to establish a program administered by the Wisconsin Economic Development Corporation (WEDC) that focuses on attracting significant opportunities and events to the state. The bill identifies a range of eligible applicants for grants, including cities, towns, counties, tribes, business improvement districts, and private entities. The funding provided under this bill is meant to be utilized specifically for projects aimed at drawing national exposure and boosting economic activity in Wisconsin. The program entails a competitive bidding process against other states to secure events that showcase the state's potential and drive visitor traffic.
Contention
While the bill has garnered support from those advocating for tourism and economic growth, it could face opposition concerning the effective allocation of resources and whether funds could be better spent elsewhere. The requirement for non-state matching funds may also raise concerns about equity among regions and organizations with varying abilities to secure additional financial support. These discussions reflect a broader debate about the appropriate role of state intervention in promoting local opportunities and whether such measures genuinely lead to sustainable economic improvements for all communities within Wisconsin.
Declaring the week of January 21 to 27, 2024, School Choice Week and recognizing the right of parents to select the best educational path for their children.
Declaring the week of January 21 to 27, 2024, School Choice Week and recognizing the right of parents to select the best educational path for their children.
A sales tax exemption for road-building equipment; increasing the income tax withholding threshold for nonresidents; modifying the certification requirement for a qualified opportunity fund; prohibiting certain lottery games; and extending the capital gains exclusion to family members who inherit certain farms organized as a partnership or limited liability company. (FE)
Grant to The Ability Center for a project to convert a park in southeast Wisconsin for the provision of recreation and rehabilitation opportunities for individuals with disabilities and making an appropriation. (FE)
Grant to The Ability Center for a project to convert a park in southeast Wisconsin for the provision of recreation and rehabilitation opportunities for individuals with disabilities and making an appropriation. (FE)