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Tony Evers vetoes bill awarding federal loans for Verso mill purchase
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Mill bill: Gov Tony Evers vetoes bill awarding $65 million in federal loans for purchase of two paper mills
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Tony Evers vetoes bill awarding federal loans for Verso mill purchase
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Wisconsin Rapids City Times Mill Bill heads to governor’s desk
By City Times staff
MADISON – A bill authored by Sen. Patrick Testin (Stevens Point) and Rep. Scott Krug (town of Rome), designed to help restart the Verso Mill, passed in the state Senate on June 30, after passing the Assembly on June 22.
The bill is designed to allow for the use of federal pandemic stimulus/relief funds from the American Rescue Plan Act (ARPA) of 2021 to create a loan to aid in the mill’s purchase. The Wisconsin Economic Development Corporation (WEDC) would be the entity making the loan.
Assembly Bill No. 367 would provide a $50 million loan to a buyer for the Wisconsin Rapids paper mill and a $15 million loan to a buyer for the Park Falls paper mill. Both mills are currently idle.