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Bills · Sep 2011 Special Session

SB 2

Became law Official bill text Atom feed

small business loan guarantees by the Wisconsin Housing and Economic Development Authority.

  1. Introduced, completed
  2. Passes Senate, completed
  3. Passes Assembly, completed
  4. Governor signs, completed
  5. Law, completed

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

Under current law, the Wisconsin Housing and Economic Development

Authority (WHEDA) administers the small business development loan guarantee

program (program). Under the program, WHEDA may guarantee repayment of up

to the lesser of $200,000 or 80 percent of the principal of a loan made by a private

lender to a small business or the elected governing body of a federally recognized

American Indian tribe in this state. A small business development loan that is

guaranteed by WHEDA may be used for expenses associated with the expansion or

acquisition of a business, with the start-up of a day care business, or the start-up

of a small business in a vacant storefront in the downtown area of a rural community.

Under current law, a "small business" means a business that employs fewer than 50

full-time employees.

This bill makes the following changes to the program:

1. The cap on the amount of a loan that may be guaranteed under the program

is raised from $200,000 or 80 percent of the principal of the loan to $500,000 or 80

percent of the principal of the loan.

2. The definition of "small business" is expanded from businesses that employ

up to 50 full-time employees to businesses that employ up to 250 full-time

employees.

3. The requirement that the owner of a small business be actively engaged in

the small business in order to qualify for the program is deleted.

4. The permitted use of proceeds of a loan for the start-up of a small business

in a vacant storefront in a downtown area is expanded to apply to a community of any

size by removing the limitation to rural communities.

What it would cost

Fiscal estimates filed by state agencies, as official PDFs

Sponsors

Introduced by: Bernier , Committee on Senate Organization , Larson (D) , Representatives Petryk , Senator Leibham , by request of Governor Scott Walker

4 cosponsors

Fields (D) , Lassa (D) , Leibham (R) , Petryk, Bernier and T. Larson

Votes

Senate: Report adoption of Senate Amendment 1 recommended by committee on Economic Development and Veterans and Military Affairs, Ayes 7, Noes 0

Passed 7–0 Oct 20, 2011 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Senate: Read a third time and passed, Ayes 33, Noes 0

Passed 33–0 Oct 25, 2011 official source full page

Assembly: Assembly amendment 1 laid on table, Ayes 71, Noes 24

Passed 71–24 Nov 3, 2011 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Assembly: Assembly amendment 2 laid on table, Ayes 59, Noes 36

Passed 59–36 Nov 3, 2011 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Assembly: Assembly amendment 3 laid on table, Ayes 66, Noes 29

Passed 66–29 Nov 3, 2011 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Assembly: Assembly amendment 4 laid on table, Ayes 60, Noes 35

Passed 60–35 Nov 3, 2011 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Full history

  1. Oct 11, 2011 · Senate

    Introduced by committee on Senate Organization, by request of Governor Scott Walker, Senator Leibham, and Representatives Petryk, Bernier, and Larson

  2. Oct 11, 2011 · Senate

    Read first time and referred to committee on Economic Development and Veterans and Military Affairs

  3. Oct 11, 2011 · Senate

    Senator Leibham added as a coauthor

  4. Oct 11, 2011 · Senate

    Representatives Petryk, Bernier and T. Larson added as a cosponsors

  5. Oct 13, 2011 · Senate

    LRB correction

  6. Oct 13, 2011 · Senate

    Senate amendment 1 offered by Senator Leibham

  7. Oct 18, 2011 · Senate

    Public hearing held

  8. Oct 19, 2011 · Senate

    Fiscal estimate received

  9. Oct 20, 2011 · Senate

    Report passage as amended recommended by committee on Economic Development and Veterans and Military Affairs, Ayes 7, Noes 0

  10. Oct 20, 2011 · Senate

    Available for scheduling

  11. Oct 20, 2011 · Senate

    Executive action taken

  12. Oct 20, 2011 · Senate

    Report adoption of Senate Amendment 1 recommended by committee on Economic Development and Veterans and Military Affairs, Ayes 7, Noes 0

  13. Oct 24, 2011 · Senate

    Placed on calendar 10-25-2011 pursuant to Senate Rule 18(1)

  14. Oct 25, 2011 · Senate

    Read a second time

  15. Oct 25, 2011 · Senate

    Senate amendment 1 adopted

  16. Oct 25, 2011 · Senate

    Ordered to a third reading

  17. Oct 25, 2011 · Senate

    Rules suspended

  18. Oct 25, 2011 · Senate

    Read a third time and passed, Ayes 33, Noes 0

  19. Oct 25, 2011 · Senate

    Senator Lassa added as a coauthor

  20. Oct 25, 2011 · Senate

    Ordered immediately messaged

  21. Oct 31, 2011 · Assembly

    Received from Senate

  22. Oct 31, 2011 · Assembly

    Read first time and referred to calendar 11-1-2011 pursuant to Assembly Rule 93

  23. Nov 3, 2011 · Assembly

    Rules suspended to withdraw from calendar and take up

  24. Nov 3, 2011 · Assembly

    Read a second time

  25. Nov 3, 2011 · Assembly

    Representative Fields added as a cosponsor

  26. Nov 3, 2011 · Assembly

    Assembly amendment 1 offered by Representatives Danou, Vruwink, Jorgensen, Ringhand and Doyle

  27. Nov 3, 2011 · Assembly

    Assembly amendment 1 laid on table, Ayes 71, Noes 24

  28. Nov 3, 2011 · Assembly

    Assembly amendment 2 offered by Representatives Ringhand, Vruwink, Danou, Molepske Jr, Zamarripa and Bewley

  29. Nov 3, 2011 · Assembly

    Assembly amendment 2 laid on table, Ayes 59, Noes 36

  30. Nov 3, 2011 · Assembly

    Assembly amendment 3 offered by Representatives Vruwink and Clark

  31. Nov 3, 2011 · Assembly

    Assembly amendment 3 laid on table, Ayes 66, Noes 29

  32. Nov 3, 2011 · Assembly

    Assembly amendment 4 offered by Representatives Clark, Vruwink and Danou

  33. Nov 3, 2011 · Assembly

    Assembly amendment 4 laid on table, Ayes 60, Noes 35

  34. Nov 3, 2011 · Assembly

    Ordered to a third reading

  35. Nov 3, 2011 · Assembly

    Rules suspended

  36. Nov 3, 2011 · Assembly

    Read a third time and concurred in

  37. Nov 3, 2011 · Assembly

    Ordered immediately messaged

  38. Nov 4, 2011 · Senate

    Received from Assembly concurred in

  39. Nov 9, 2011 · Senate

    Report correctly enrolled on 11-9-2011

  40. Nov 9, 2011 · Senate

    LRB correction

  41. Nov 18, 2011 · Senate

    Presented to the Governor on 11-18-2011

  42. Nov 22, 2011 · Senate

    Report approved by the Governor on 11-21-2011. 2011 Wisconsin Act 79

  43. Nov 22, 2011 · Senate

    Published 12-5-2011