Wisconsin Lawyer: Legislative Watch: Next Economy Legislation Receives Bipartisan Support:

February 01, 2002

Legislative Watch: Next Economy Legislation Receives Bipartisan Support

The Next Economy Legislation provides greater flexibility for mergers and conversions of business entities, clarifies and reforms Wisconsin's Limited Liability Company Act, expands securities law provisions, and adopts several technical changes identified by the Department of Financial Institutions.

By Joseph Boucher

Next Economy Legislation Receives Bipartisan Support

The Next Economy Legislation provides greater flexibility for mergers and conversions of business entities, clarifies and reforms Wisconsin's Limited Liability Company Act, expands securities law provisions, and adopts several technical changes identified by the Department of Financial Institutions.

Bipartisan-supported legislation to enhance Wisconsin's business and economic climates is moving through the state Legislature. The bill, coined the Next Economy Package, stems from the Venture Capital Summit hosted by Gov. McCallum held in early 2001. The legislation has been introduced under companion bills, Senate Bill 333 and Assembly Bill 650, and is spearheaded by the governor and these legislators.

McCallum

Gov. Scott McCallum was sworn in as Wisconsin's 43rd governor on Feb. 1, 2001. McCallum most recently served as lieutenant governor, since 1986, and prior to that in the Wisconsin Senate, beginning in 1974. He earned a bachelor's degree in economics and political science from Macalester College in 1972 and a master's degree in international economics from Johns Hopkins University in 1974.

Meyer

Sen. Mark Meyer (D-La Crosse) was elected to the Senate (32nd District) in November 2000. He has a B.S. in political science from UW-La Crosse, and is a former member of the La Crosse City Council (1985-89) and the State Assembly (1992-2000). He currently chairs the Senate Committee on Universities, Housing and Government Operations.

Sen. Robert Cowles (R-Green Bay) represents Wisconsin's 2nd Senate District. He was first elected to the Assembly in 1983 (resigned 4/21/87), then elected to the Senate in April 1987 in a special election, and has been reelected since 1988.

Cowles

Rep. Suzanne Jeskewitz (R-Menomonee Falls) represents the 24th Assembly District. She was elected to the Assembly in 1996 and has been reelected since 1998. She chairs the Assembly Committee on Financial Institutions.

Jeskewitz

Plale

Rep. Jeffrey Plale (D-South Milwaukee) represents the 21st Assembly District. He was first elected to the Assembly in a March 1996 special election and has been reelected since November 1998.

Vrakas

Rep. Daniel Vrakas (R-Hartland) represents the 33rd Assembly District and has worked on numerous workforce/economic development issues since first being elected in 1990. He has chaired the Assembly Labor Committee (1995-2000; vice chair since 2001) and is currently a member of the Governor's Council on Workforce Investment (since 1999).

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