Senate Holds Final Floor Vote of the Session

The State Senate met for the last time this session on Tuesday. Several of the bills they passed may be of interest to WEMTA. They include:

Unclaimed Savings Bonds into Common School Fund: The Senate voted unanimously to pass Assembly Bill 721, which would allow the state to claim savings bonds that haven't been cashed in within 5 years. The money would go into the Common School Fund. A fiscal note released by the Department of Revenue said that the fiscal effect of the bill on the Common School Fund is indeterminate. However, they estimate that they currently have possession of $500,000 worth of savings bonds that they consider unclaimed property. AB 721 now goes to the Governor for his signature.

Teacher Loan Program: The Senate voted  31-1 to pass Assembly Bill 793, which would extend the teacher loan forgiveness program to students who take jobs in rural counties. Currently, students studying to become teachers can receive up to $10,000 a year for three years from the Higher Education Aids Board (HEAB). Under the loan forgiveness program, HEAB forgives 25% of the loan for every year the student works in Milwaukee as a full-time teacher in a high-demand field and receives a teacher rating of proficient or distinguished. AB 793 now goes to the Governor for his signature.

Tribal College Libraries:  The Senate voted unanimously to pass Assembly Bill 704, which allows a tribal college-county joint library to participate in a public

library system. AB 704 now goes to the Governor for his signature.