Bill
Bill > AB397
summary
Introduced
08/29/2025
08/29/2025
In Committee
01/27/2026
01/27/2026
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
2025-2026 Regular Session
Bill Summary
Under current law, a recipient of a grant or loan of at least $100,000 from the Wisconsin Economic Development Corporation must provide WEDC an audited schedule of expenditures within 120 days after the end of the fiscal year in which grant or loan funds were expended. This bill makes the following changes to the reporting requirement: 1. Increases from $100,000 to $500,000 the grant or loan threshold for which the recipient must submit a schedule of expenditures. 2. Changes the deadline for submission from 120 days after the end of the fiscal year in which grant or loan funds were expended to 120 days after the end of the fiscal year in which the program expenditures are completed. 3. Exempts a recipient that is a local governmental unit or a university in the University of Wisconsin System from the schedule of expenditures requirement if the recipient a) includes the grant or loan funds in its current audit practices and, b) no later than 120 days after the end of the program period, submits documentation of the recipient[s standard annual audit for every fiscal year in which grant or loan funds were expended. The bill defines Xlocal governmental unitY to mean a city, village, town, county, special purpose district, or federally recognized American Indian tribe or band in this state.
AI Summary
This bill modifies reporting requirements for recipients of economic development grants and loans from the Wisconsin Economic Development Corporation (WEDC). Currently, recipients of grants or loans of at least $100,000 must submit an audited schedule of expenditures within 120 days after the end of their fiscal year. The bill increases the threshold to $500,000 and changes the submission deadline to 120 days after the program expenditures are completed. Additionally, the bill creates a special exemption for local governmental units (defined as cities, villages, towns, counties, special purpose districts, or federally recognized American Indian tribes or bands) and University of Wisconsin System institutions. These entities can be exempt from the detailed reporting if they: 1) include the grant or loan funds in their existing audit practices, and 2) submit their standard annual audit documentation within 120 days after the program period. The changes aim to reduce administrative burden for smaller grant recipients while maintaining financial accountability by ensuring that all grant funds are still subject to standard audit procedures.
Committee Categories
Labor and Employment
Sponsors (12)
David Armstrong (R)*,
Rick Gundrum (R)*,
Alex Joers (D)*,
Rob Kreibich (R)*,
Paul Melotik (R)*,
Jerry O'Connor (R)*,
Travis Tranel (R)*,
Kristin Dassler-Alfheim (D),
Melissa Ratcliff (D),
Mark Spreitzer (D),
Patrick Testin (R),
Jamie Wall (D),
Last Action
Referred to committee on Rules (on 01/27/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://docs.legis.wisconsin.gov/2025/proposals/reg/asm/bill/ab397 |
| Analysis - LC Amendment Memo | https://docs.legis.wisconsin.gov/document/lcamendmentmemos/2025/REG/AB397.pdf |
| AB397 ROCP for Committee on Jobs and Economy | https://docs.legis.wisconsin.gov/2025/related/records/assembly/jobs_and_economy/1960484.pdf |
| Assembly Amendment 1 | https://docs.legis.wisconsin.gov/document/amends/2025/REG/AB397-AA1.pdf |
| BillText | https://docs.legis.wisconsin.gov/document/proposaltext/2025/REG/AB397.pdf |
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