For Immediate Release April 21, 2010

Contact: Mark D. O’Connell

WCA Executive Director
866.404.2700

Senator Kreitlow and Representative Seidel’s Jobs Creation

Bill Signed Into Law
A bill authored by Senator Pat Kreitlow and Representative Donna Seidel, which will
enhance Wisconsin’s economic development efforts, was signed into law on Wednesday,
April 21, 2010 by Governor Jim Doyle.

Senate Bill (SB) 399 gives Wisconsin businesses and local governments greater access to
low-cost, tax-exempt financing.

"The tireless work of Senator Kreitlow and Representative Seidel in guiding this bill
through the legislative process has been exemplary,” said WCA Executive Director Mark
D. O’Connell. “We are extremely grateful to them for their clear understanding that our
state needs private sector activity and growth, job opportunities and more commerce. As
a result of their dedication to a stronger Wisconsin, this bill is now a reality and our state
can continue working toward a more vibrant economy.”

The bill authorizes the creation of a joint powers authority, or Commission, which can act
at the request of Wisconsin local governments to issue conduit bonds for private
businesses. It allows for local governments to realize millions of dollars in savings in
borrowing costs for private businesses and local governments, create market leverage
through cooperative institutional relationships and streamline the complex bond issuance
process.

The new law builds on the successes of 2009 Wisconsin Act 112, which gave businesses
around the state additional opportunities to benefit from inexpensive capital and is
already responsible for securing the creation of 600 jobs in Wisconsin Rapids. In
addition to the job creation advantages this legislation offers the private sector, local
governments will also be able to save significant taxpayer dollars by completing public
purpose projects less expensively.
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SB 399 passed the Senate on March 4, 2010 on a 32-0 vote and passed the Assembly on a
98-0 vote on April 13, 2010.

O’Connell concluded, "This legislation has received overwhelming support from our
leaders in Madison. This doesn’t happen often in this town, but when it comes to
creating a better Wisconsin for our citizens, our leaders and the Governor all agreed that
tools which help businesses create jobs and employ people should be put in place
whenever possible. SB 399 accomplishes this goal and we are thankful to Senator
Kreitlow and Representative Seidel for their vision on behalf of all of our state.”

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