MADISON, Wis. (AP) — The Legislature's budget committee has unanimously passed Gov. Scott Walker's proposal to invest $50 million a year in rural economic development projects.

The Joint Finance Committee voted 16-0 on Tuesday to pass the bill. The full Legislature could approve it as soon as next week.

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The money would only be available to the 56 most rural counties in the state. Counties or groups of counties could come together to apply for grants for revolving loans under the programs.

The Wisconsin Economic Development Corporation would be in charge of distributing the money. The bill calls for it to give priority to underserved communities in rural Wisconsin.

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