AB 1004

This bill requires the Wisconsin Housing and Economic Development Authority

to do all of the following:

1. Establish a $30,000,000 revolving loan fund to assist paper mills in this state

to transition to the manufacture of brown paper products.

2. Establish a $30,000,000 revolving loan fund to assist paper mills in this state

to undertake energy efficiency upgrades in the manufacture of paper products.

The bill requires WHEDA to establish policies and procedures implementing

the revolving loan fund program under the bill, including job retention

requirements. Additionally, under the bill, the revolving loan funds must satisfy all

of the following requirements:

1. Each loan must be interest free.

2. No business may receive more than $3,000,000 in loans from the revolving

loan funds combined.

3. Each loan must be repaid on at least a quarterly basis and must be repaid

in full over a period of no more than five years.

4. The five-year or less repayment period for each loan may not begin until

after installation of the project funded by the loan is complete, as determined

WHEDA.