Loan related to the Verso Paper Mill in the city of Wisconsin Rapids; loan related to the Park Falls Pulp and Paper Mill in the city of Park Falls; funding for the University of Wisconsin System; special education funding and making an appropriation. (FE)

2. Improvements to infrastructure related to the Mill.

3. Equipment upgrades at the Mill.

The loan is to be for the term and upon the conditions as may be agreed upon between the parties, except that the loan contract must provide WEDC with a security interest in the Mill to secure repayment of the loan. Under the bill, WEDC may establish an interest rate for the loan that is below the market rate, and at the corporation's discretion, the loan may be forgivable. Additionally, the bill provides that before awarding the loan WEDC may determine that substantial additional funding for the purposes specified above has been secured from both nonstate revenue sources and in the form of a loan issued by the Board of Commissioners of Public Lands to an entity eligible for the loan.

The bill also authorizes WEDC to award a loan of up to $15,000,000 to the Park Falls Mill Multi-Stakeholder Cooperative or other eligible borrower in relation to the Park Falls Pulp and Paper Mill in the city of Park Falls. The loan may be used for any or all of the following:

1. Purchase of the Mill.

2. Improvements to infrastructure related to the Mill.

3. Equipment upgrades at the Mill.

The loan is to be for the term and upon the conditions as may be agreed upon between the parties, except that the loan contract must provide WEDC with a security interest in the Mill to secure repayment of the loan. Under the bill, WEDC may establish an interest rate for the loan that is below the market rate, and at the corporation's discretion, the loan may be forgivable. Additionally, the bill provides that before awarding the loan WEDC may determine that substantial additional funding for the purposes specified above has been secured from both nonstate revenue sources and in the form of a loan issued by the Board of Commissioners of Public Lands to an entity eligible for the loan.

If the loans described above are awarded, the bill also provides additional funding for the University of Wisconsin System under its general program operations appropriation and additional funding for special education aid the Department of Public Instruction pays to school districts, independent charter schools, cooperative educational service agencies, and county children with disabilities education boards.