September 2011 Special Session
Date of enactment: November 21, 2011
Senate Bill 20
Date of publication*: December 5, 2011
2011 WISCONSIN ACT 80
An Act to repeal 234.90 (3m); and to amend 234.90 (2) (b) and 234.90 (2) (h) of the statutes; relating to: changes to agricultural production loan guarantees administered by the Wisconsin Housing and Economic Development Authority.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
80, s. 1
234.90 (2) (b) of the statutes is amended to read:
234.90 (2) (b) In order to maximize the benefits of the program under this section, the total outstanding principal amount of all loans to the borrower that are guaranteed under this section will not exceed an amount set annually, no later than December 1, by the authority that is not less than $30,000 $2,000 nor more than $100,000 $150,000. For purposes of adjusting the total outstanding principal amount of all loans to a borrower under this paragraph, the authority shall consider changes in the index of prices paid by farmers published by the federal department of agriculture.
80, s. 2
234.90 (2) (h) of the statutes is amended to read:
234.90 (2) (h) The term of the loan does not extend beyond 12 months after March 31 of the calendar year following the calendar year in the date on which the participating lender granted the loan.
80, s. 3
234.90 (3m) of the statutes is repealed.