Senate Bill 421 proposes a financial assistance package of $42,000,000 to Domtar Paper Company, LLC, for the modernization of a dam on the Wisconsin River in the village of Rothschild. The bill mandates that if Domtar does not initiate the dam modernization project by December 31, 2026, or if it sells its mills in Rothschild or Nekoosa before the project's completion, it must return the full amount of the financial assistance. Additionally, if the total financial assistance Domtar receives exceeds two-thirds of the project's cost, it must repay the difference to the state. The bill also stipulates that Domtar must invest $100,000,000 in north central Wisconsin and use only Wisconsin-sourced roundwood and wood chips for its production during the project.

The bill amends existing statutes and creates new provisions to facilitate this financial assistance. Specifically, it amends section 31.385 (2) (d) to include new paragraphs (dr) and (8), which outline the funding sources and conditions for the financial assistance. The new section 31.385 (8) details the terms of the assistance, including the requirement for Domtar to provide a written agreement for the investment and sourcing of materials. If Domtar fails to meet any of these conditions, it is obligated to repay the state the full amount of the assistance received.

Statutes affected:
Bill Text: 31.385(2)(d), 31.385