Gov. Tony Evers recently took action on three bills: Assembly Bill (AB) 890, Senate Bill (SB) 971, and SB 780.
AB 890, now 2023 Wisconsin Act 98:
- Removes the current law requirement that the Badger Fund of Funds repay the initial $25 million that the state appropriated for the program in fiscal year 2013–14;
- Allows reinvestment of the proceeds of those investments in future funding rounds under the program;
- Loosens the current matching requirements to allow the fund to meet the private capital matching requirements on an average basis for the entire fund rather than meeting the requirement for each investment;
- Amends the 2023 Wisconsin Act 19 language to specify that the new $25 million must be committed to at least four investments in venture capital headquartered in Wisconsin within 24 months after receiving the monies; and
- Extends the current annual reporting requirements by the fund of funds manager to reinvested funds under the program and requires DOA submit a report to JFC assessing the performance-to-date of the investment program and any recommendations for improvement to the program by March 1.
SB 971, now 2023 Wisconsin Act 100, with line-item vetoes:
- Creates a continuing appropriation for the Office of Literacy and literacy programs; and
- Adds the director of the Office of Literacy to the list of positions assigned to Executive Salary Group Three.
Finally, SB 780, now 2023 Wisconsin Act 99, increases fees for the nonresident archer hunting license and the nonresident crossbow hunting license by $35, from $162.25 to $197.25.
Additional information is available here.
