Amendment ASA1-SB55

SB55-ASA1, s. 1548 Section 1548. 234.83 (3) (a) 2. of the statutes is amended to read:

SB55-ASA1,1014,15 234.83 (3) (a) 2. The start-up, expansion or acquisition of a day care business, including the purchase or improvement of land, buildings, machinery, equipment, or inventory.

SB55-ASA1, s. 1549 Section 1549. 234.83 (3) (a) 3. of the statutes is created to read:

SB55-ASA1,1014,19 234.83 (3) (a) 3. The start-up of a small business in a vacant storefront in the downtown area of a rural community, including the purchase or improvement of land, buildings, machinery, equipment, or inventory.

SB55-ASA1, s. 1550 Section 1550. 234.83 (4) (a) of the statutes is renumbered 234.83 (4) and amended to read:

SB55-ASA1,1015,6 234.83 (4) Guarantee of repayment. Subject to par. (b), the The authority may guarantee repayment of a portion of the principal of any loan eligible for a guarantee under sub. (1) (1m). That portion may not exceed 80% of the principal of the loan or $200,000, whichever is less. The authority shall establish the portion of the principal of an eligible loan that will be guaranteed, using the procedures described in the agreement under s. 234.93 (2) (a). The authority may establish a single portion for all guaranteed loans that do not exceed $250,000 and a single portion for all guaranteed loans that exceed $250,000 or establish on an individual basis different portions for eligible loans that do not exceed $250,000 and different portions for eligible loans that exceed $250,000.

SB55-ASA1, s. 1551 Section 1551. 234.83 (4) (b) of the statutes is repealed.

SB55-ASA1, s. 1552 Section 1552. 234.90 (3) (d) of the statutes, as affected by 1999 Wisconsin Act 9, is amended to read:

SB55-ASA1,1015,15 234.90 (3) (d) The farmer's name does not appear on the statewide support lien docket under s. 49.854 (2) (b). The condition under this paragraph is met for a farmer whose name does appear if or, if the farmer's name appears on that docket, the farmer provides to the authority a payment agreement that has been approved by the county child support agency under s. 59.53 (5) and that is consistent with rules promulgated under s. 49.858 (2) (a).

SB55-ASA1, s. 1553 Section 1553. 234.90 (3g) (c) of the statutes, as affected by 1999 Wisconsin Act 9, is amended to read:

SB55-ASA1,1015,23 234.90 (3g) (c) The farmer's name does not appear on the statewide support lien docket under s. 49.854 (2) (b). The condition under this paragraph is met for a farmer whose name does appear if or, if the farmer's name appears on that docket, the farmer provides to the authority a payment agreement that has been approved by the county child support agency under s. 59.53 (5) and that is consistent with rules promulgated under s. 49.858 (2) (a).

SB55-ASA1, s. 1554 Section 1554. 234.90 (4) (a) of the statutes is renumbered 234.90 (4) and amended to read:

SB55-ASA1,1016,4 234.90 (4) Guarantee. Except as provided in par. (b), the The authority shall guarantee repayment of 90% of the principal of any agricultural production loan eligible for guarantee under sub. (2) made to a farmer eligible for a guaranteed loan under sub. (3) or (3g).

SB55-ASA1, s. 1555 Section 1555. 234.90 (4) (b) of the statutes is repealed.

SB55-ASA1, s. 1556 Section 1556. 234.907 (1) (f) of the statutes is amended to read:

SB55-ASA1,1016,8 234.907 (1) (f) "Percentage of guarantee" means the percentage established by the authority under sub. (3) (a).

SB55-ASA1, s. 1557 Section 1557. 234.907 (3) (a) of the statutes is renumbered 234.907 (3) and amended to read:

SB55-ASA1,1016,17 234.907 (3) Guarantee of collection. Subject to par. (b), the The authority shall guarantee collection of a percentage, not exceeding 90%, of the principal of any loan eligible for a guarantee under sub. (2). The authority shall establish the percentage of the unpaid principal of an eligible loan that will be guaranteed, using the procedures described in the guarantee agreement under s. 234.93 (2) (a). The authority may establish a single percentage for all guaranteed loans or establish different percentages for eligible loans on an individual basis.

SB55-ASA1, s. 1558 Section 1558. 234.907 (3) (b) of the statutes is repealed.

SB55-ASA1, s. 1559 Section 1559. 234.91 (5) (a) of the statutes is amended to read:

SB55-ASA1,1016,24 234.91 (5) (a) Subject to par. (c), the The authority shall guarantee collection of a percentage of the principal of a loan eligible for a guarantee under sub. (2). The principal amount of an eligible loan that the authority may guarantee may not exceed the borrower's net worth or 25% of the total loan amount, whichever is less, calculated at the time the loan is made.

SB55-ASA1, s. 1560 Section 1560. 234.91 (5) (c) of the statutes is repealed.

SB55-ASA1, s. 1561 Section 1561. 234.93 (3) (title) of the statutes is amended to read:

SB55-ASA1,1017,3 234.93 (3) (title) Increases or decreases in loan Loan guarantees ; increases or decreases.

SB55-ASA1, s. 1562 Section 1562. 234.93 (3) of the statutes is renumbered 234.93 (3) (b) and amended to read:

SB55-ASA1,1017,16 234.93 (3) (b) The authority may request the joint committee on finance to take action under s. 13.10 to permit the authority to increase or decrease the total principal amount or total outstanding guaranteed principal amount of loans that it may guarantee under a program the aggregate of the programs guaranteed by the Wisconsin development reserve fund. Included with its request, the authority shall provide a projection, for the next June 30, that compares the amounts required on that date to pay outstanding claims and to fund guarantees under all the aggregate of the programs guaranteed by funds from the Wisconsin development reserve fund, and the balance remaining in the Wisconsin development reserve fund on that date after deducting such amounts, if the increase or decrease is approved, with such amounts and the balance remaining, if the increase or decrease is not approved.

SB55-ASA1, s. 1563 Section 1563. 234.93 (3) (a) of the statutes is created to read:

SB55-ASA1,1017,22 234.93 (3) (a) Except as provided in par. (b), the total principal amount or total outstanding guaranteed principal amount of all loans that the authority may guarantee under the aggregate of the programs guaranteed by funds from the Wisconsin development reserve fund, excluding the program under s. 234.935, 1997 stats., may not exceed $49,500,000.

SB55-ASA1, s. 3125c Section 3125c. 234.93 (4) (c) of the statutes is created to read:

SB55-ASA1,1018,14 234.93 (4) (c) 1. The statement under par. (b) shall include recommendations as to the total principal amount or total outstanding guaranteed principal amount of all loans that the authority may guarantee under each of the programs guaranteed by the Wisconsin development reserve fund, subject to sub. (3). If the cochairpersons of the joint committee on finance do not notify the executive director within 14 working days after August 31 that the committee has scheduled a meeting for the purpose of reviewing the recommended maximum amounts, the recommended maximum amounts shall be the total principal amounts or total outstanding guaranteed principal amounts of all loans that the authority may guarantee under each of the programs guaranteed by the Wisconsin development reserve fund. If, within 14 working days after August 31, the cochairpersons of the committee notify the executive director that the committee has scheduled a meeting for the purpose of reviewing the recommended maximum amounts, the maximum amounts that the authority may guarantee under each of the programs guaranteed by the Wisconsin development reserve fund shall be the maximum amounts approved by the committee.

SB55-ASA1,1019,6 2. If the total principal amount or total outstanding guaranteed principal amount of all loans that the authority desires or intends to guarantee under a program guaranteed by the Wisconsin development reserve fund will exceed the maximum amount that was last approved for the program under subd. 1., the executive director of the authority shall provide to the secretary of administration and to the joint committee on finance notice of the proposed new maximum guarantee amounts for each of the programs guaranteed by the Wisconsin development reserve fund, subject to sub. (3). If the cochairpersons of the joint committee on finance do not notify the executive director within 14 working days after the date of the notice under this subdivision that the committee has scheduled a meeting for the purpose of reviewing the proposed new maximum amounts, the proposed new maximum amounts shall apply. If, within 14 working days after the date of the notice under this subdivision, the cochairpersons of the committee notify the executive director that the committee has scheduled a meeting for the purpose of reviewing the proposed new maximum amounts, the new maximum amounts that the authority may guarantee shall be the maximum amounts approved by the committee.

SB55-ASA1, s. 1564 Section 1564. 234.93 (4m) of the statutes is amended to read:

SB55-ASA1,1019,11 234.93 (4m) Limitation on loan guarantees. The authority shall regularly monitor the cash balance in the Wisconsin development reserve fund. The authority shall ensure that the cash balance in the fund is sufficient for the purposes specified in sub. (4) (a) 1. and, 2., and 3.

SB55-ASA1, s. 1565 Section 1565. Chapter 237 of the statutes is created to read:

SB55-ASA1,1019,15 Chapter 237 Fox River Navigational System Authority

SB55-ASA1,1019,16 237.01 Definitions. In this chapter:

SB55-ASA1,1019,17 (1) "Authority" means the Fox River Navigational System Authority.

SB55-ASA1,1019,18 (2) "Board of directors" means the board of directors of the authority.

SB55-ASA1,1019,20 (3) "Fiscal year" means the period beginning on July 1 and ending on the following June 30.

SB55-ASA1,1019,21 (4) "Lock" includes any spillway associated with the lock.

SB55-ASA1,1019,25 237.02 Creation and organization of authority. (1) There is created a public body corporate and politic to be known as the "Fox River Navigational System Authority." The board of directors of the authority shall consist of the following members:

SB55-ASA1,1020,2 (a) Six members nominated by the governor, and with the advice and consent of the senate appointed, for 3-year terms.

SB55-ASA1,1020,3 (b) The secretary of natural resources, or his or her designee.

SB55-ASA1,1020,4 (c) The secretary of transportation, or his or her designee.

SB55-ASA1,1020,5 (d) The director of the state historical society, or his or her designee.

SB55-ASA1,1020,8 (1m) (a) Two of the 6 members appointed under sub. (1) (a) shall be residents of Brown County, 2 shall be residents of Outagamie County, and 2 shall be residents of Winnebago County.

SB55-ASA1,1020,11 (b) At least one of the 2 members appointed from each of the counties specified in par. (a) shall be a resident of a city, village, or town in which is located a lock that is part of the navigational system.

SB55-ASA1,1020,14 (2) A vacancy on the board of directors shall be filled in the same manner as the original appointment to the board of directors for the remainder of the unexpired term, if any.

SB55-ASA1,1020,17 (3) A member of the board of directors may not be compensated for his or her services but shall be reimbursed for actual and necessary expenses, including travel expenses, incurred in the performance of his or her duties.

SB55-ASA1,1020,21 (4) No cause of action of any nature may arise against and no civil liability may be imposed upon a member of the board of directors for any act or omission in the performance of his or her powers and duties under this chapter, unless the person asserting liability proves that the act or omission constitutes willful misconduct.

SB55-ASA1,1021,2 (5) The members of the board of directors shall annually elect a chairperson and may elect other officers as they consider appropriate. Five voting members of the board of directors constitute a quorum for the purpose of conducting the business and exercising the powers of the authority, notwithstanding the existence of any vacancy. The board of directors may take action upon a vote of a majority of the members present, unless the bylaws of the authority require a larger number.

SB55-ASA1,1021,15 (6) The board of directors shall appoint a chief executive officer who shall not be a member of the board of directors and who shall serve at the pleasure of the board of directors. The authority may delegate by resolution to one or more of its members or its executive director any powers and duties that it considers proper. The chief executive officer shall receive such compensation as may be determined by the board of directors. The chief executive officer or other person designated by resolution of the board of directors shall keep a record of the proceedings of the authority and shall be custodian of all books, documents, and papers filed with the authority, the minute book or journal of the authority, and its official seal. The chief executive officer or other person may cause copies to be made of all minutes and other records and documents of the authority and may give certificates under the official seal of the authority to the effect that such copies are true copies, and all persons dealing with the authority may rely upon such certificates.

SB55-ASA1,1021,17 237.03 Duties of authority. (1) General duties. In addition to all other duties imposed under this chapter, the authority shall do all of the following:

SB55-ASA1,1021,19 (a) Adopt bylaws and policies and procedures for the regulation of its affairs and the conduct of its business.

SB55-ASA1,1021,20 (b) Contract for any legal services required for the authority.

SB55-ASA1,1021,22 (c) Establish the authority's annual budget and monitor the fiscal management of the authority.

SB55-ASA1,1021,24 (d) Procure liability insurance covering its officers and employees and procure insurance against any loss in connection with its property and other assets.

SB55-ASA1,1022,2 (e) Make every reasonable effort to contract with one or more corporations to provide the services specified under s. 237.09 (2).

SB55-ASA1,1022,5 (2) Duties upon leasing. Upon entering into the lease under s. 237.06, the authority shall rehabilitate, repair, replace, operate, and maintain the navigational system.

SB55-ASA1,1022,8 237.04 Powers of authority. The authority shall have all the powers necessary or convenient to carry out the purposes and provisions of this chapter. In addition to all other powers granted by this chapter, the authority may:

SB55-ASA1,1022,9 (1) Incur debt, except as restricted under s. 237.05 (1).

SB55-ASA1,1022,10 (2) Sue and be sued.

SB55-ASA1,1022,11 (3) Hire employees, define their duties, and fix their rate of compensation.

SB55-ASA1,1022,13 (4) Have a seal and alter the seal at pleasure; have perpetual existence; and maintain an office.

SB55-ASA1,1022,17 (5) Appoint any technical or professional advisory committee that the authority finds necessary to assist the authority in exercising its duties and powers. The authority shall define the duties of the committee, and provide reimbursement for the expenses of the committee.

SB55-ASA1,1022,19 (6) Enter into contracts with 3rd parties as are necessary for the rehabilitation, repair, replacement, operation, or maintenance of the navigational system.

SB55-ASA1,1022,22 (7) Acquire, lease, subject to s. 237.05 (2), and dispose of property as is necessary for the rehabilitation, repair, replacement, operation, or maintenance of the navigational system.

SB55-ASA1,1022,24 (8) Accept gifts and other funding for the rehabilitation, repair, replacement, operation, or maintenance of the navigational system.

SB55-ASA1,1023,2 (9) Charge user fees for services the authority provides to the operators of watercraft using the navigational system.

SB55-ASA1,1023,4 (10) Charge fees for use of facilities of the navigational system as provided in s. 16.845.

SB55-ASA1,1023,5 237.05 Restrictions on authority. (1) The authority may not issue bonds.

SB55-ASA1,1023,7 (2) The authority may not sublease all, or any part of, the navigational system without the approval of the department of administration.

SB55-ASA1,1023,12 237.06 Lease. Upon transfer of the ownership of the navigational system by the federal government to the state, the department of administration on behalf of the state and the authority shall enter into a lease agreement under which the state shall lease the navigational system to the authority for nominal consideration. The secretary of administration shall determine the amount of the rental payments.

SB55-ASA1,1023,14 237.07 Management plan; financial statements. (1) (a) The authority shall submit to the department of administration a plan that does all the following:

SB55-ASA1,1023,16 1. Addresses the costs of and funding for the rehabilitation, repair, replacement, operation, and maintenance of the navigational system.

SB55-ASA1,1023,19 2. Describes how the authority will manage its funds to ensure that sufficient funding is available to abandon the navigational system if the operation of the navigational system is no longer feasible.

SB55-ASA1,1023,22 (b) The authority shall submit the plan under par. (a) within 180 days after the date on which the state and the authority enter into the lease agreement specified in s. 237.06.

SB55-ASA1,1023,24 (2) The authority shall update and resubmit the plan under sub. (1) upon the request of the department of administration.

SB55-ASA1,1024,5 (3) (a) For each fiscal year, the authority shall submit to the department of administration an audited financial statement of the funding received by the authority from the department of natural resources under s. 237.08 (2) and by the authority from contributions and other funding accepted by the authority under s. 237.08 (3).

SB55-ASA1,1024,7 (b) The financial statement under par. (a) shall include notes that explain in detail the specific sources of funding contained in the financial statement.

SB55-ASA1,1024,11 (4) For each fiscal year in which moneys are to be released to the authority by the department of natural resources under s. 237.08, each corporation specified in s. 237.09 shall submit to the authority an audited financial statement of the amount raised by the corporation under s. 237.09 (2) (b) for that fiscal year.

SB55-ASA1,1024,15 237.08 Sources of funding. (1) Federal funding. The authority shall accept federal funding for the rehabilitation, repair, replacement, operation, and maintenance of the navigational system and shall agree with any conditions attached to the funding.

SB55-ASA1,1024,25 (2) State funding. From the appropriation under s. 20.370 (5) (cq) and before applying the percentages under s. 30.92 (4) (b) 6., the department of natural resources shall set aside for the rehabilitation and repair of the navigational system $400,000 in each fiscal year to be matched by the moneys raised under s. 237.09 (2) (b). The funding shall be set aside beginning with the first fiscal year beginning after the submittal of the initial management plan submitted under s. 237.07 (1) and shall continue to be set aside in each of the next 6 consecutive fiscal years. From the funding that is set aside, the department shall release to the authority for each fiscal year an amount equal to the total amount raised by each corporation under s. 237.09 (2) (b) for which matching funding has not been previously released.

SB55-ASA1,1025,4 (3) Other funding. The authority shall encourage and may accept contributions and funding for the rehabilitation, repair, replacement, operation, or maintenance of the navigational system. The authority shall also accept funding raised by each corporation under s. 237.09 (2).

SB55-ASA1,1025,9 237.09 Requirements for nonprofit corporations. (1) Each corporation contracted with under s. 237.03 (1) (e) shall be a nonprofit corporation as described in section 501 (c) (3) of the Internal Revenue Code that is exempt from federal income tax under section 501 (a) of the Internal Revenue Code and shall be based in one or more of the counties in which the navigational system is located.

SB55-ASA1,1025,11 (2) Each corporation contracted with under s. 237.03 (1) (e) shall do all of the following:

SB55-ASA1,1025,12 (a) Provide marketing and fund-raising services for the authority.

SB55-ASA1,1025,14 (b) Make every reasonable effort to raise $2,750,000 of local or private funding for the rehabilitation and repair of the navigational system.

SB55-ASA1,1025,18 (c) Accept for investment moneys received by the authority for rehabilitation and repair under s. 237.08 and invest the moneys at a rate of return that the authority finds adequate to enable the authority to exercise its duties and powers in rehabilitating and repairing the navigational system.