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2023 - 2024 LEGISLATURE
SENATE AMENDMENT 1,
TO SENATE BILL 297
June 6, 2023 - Offered by Senator Stroebel.
SB297-SA1,1,11 At the locations indicated, amend the bill as follows:
SB297-SA1,1,5 21. Page 3, line 1: delete “paint or asbestos or other internal environmental
3contamination
" and substitute “paint, asbestos, mold, or other internal
4environmental contamination in accordance with applicable local, state, and federal
5laws and regulations
".
SB297-SA1,1,6 62. Page 3, line 19: delete “6." and substitute “8.".
SB297-SA1,1,8 73. Page 3, line 21: delete “125 percent of the assessed" and substitute “100
8percent of the appraised".
SB297-SA1,1,9 94. Page 3, line 25: after that line insert:
SB297-SA1,1,11 10“7. The applicant's home has not been the subject of a claim for a state or federal
11historic rehabilitation tax credit, as determined by the authority.
SB297-SA1,1,1312 8. The applicant's home has not received financial assistance from tax
13increments generated by an active tax incremental district.”.
SB297-SA1,2,2
15. Page 4, line 3: delete lines 3 and 4 and substitute “under par. (a) at or below
2the market interest rate or may charge no interest.”.
SB297-SA1,2,3 36. Page 4, line 4: after that line insert:
SB297-SA1,2,4 4 Section 6e. 234.045 (2) (c) of the statutes is created to read:
SB297-SA1,2,85 234.045 (2) (c) If a loan recipient's home contains lead paint, asbestos, or mold,
6the authority's loan agreement with the recipient shall require the recipient to
7remediate the hazardous material or condition as required by and in accordance with
8local, state, and federal laws or regulations.
SB297-SA1,6g 9Section 6g. 234.045 (3) of the statutes is created to read:
SB297-SA1,2,1310 234.045 (3) Policies and procedures. The authority shall establish policies
11and procedures to administer the housing rehabilitation loan fund and the program
12under this section. The policies and procedures shall, to the extent practicable, do
13all of the following:
SB297-SA1,2,1514 (a) Incorporate the authority's policies and procedures for establishing credit
15underwriting guidelines.
SB297-SA1,2,1616 (b) Establish loan repayment requirements.”.
SB297-SA1,2,17 177. Page 5, line 3: after that line insert:
SB297-SA1,2,18 18 Section 9g. 234.53 (3) of the statutes is repealed and recreated to read:
SB297-SA1,2,1919 234.53 (3) No moneys in the fund may be invested under s. 234.03 (18).
SB297-SA1,9r 20Section 9r. 234.53 (3m) of the statutes is created to read:
SB297-SA1,2,2321 234.53 (3m) (a) In its discretion, the authority may invest fund moneys that
22are not required for immediate use or disbursement in all of the following to the
23extent lawful for fiduciaries in this state:
SB297-SA1,3,3
11. An obligation of the United States or one of its agencies or instrumentalities,
2or an obligation the principal and interest of which are guaranteed by the United
3States or one of its agencies or instrumentalities.
SB297-SA1,3,54 2. An obligation of any state, or of any county, city, or other political subdivision
5of a state, having long-term ratings in the AA category or higher.
SB297-SA1,3,66 3. A certificate of deposit.
SB297-SA1,3,77 4. The state investment fund.
SB297-SA1,3,98 5. A money market mutual fund restricted to one or more investments as
9provided in subd. 1., 2., 3., or 4.
SB297-SA1,3,1110 (b) All investments under par. (a) shall be the exclusive property of the fund.
11All earnings on or income from such investments shall be credited to the fund.”.
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