LRB-4255/2
RAC:wlj:jf
1999 - 2000 LEGISLATURE
February 10, 2000 - Introduced by Senators Moore, George and Erpenbach,
cosponsored by Representatives
Morris-Tatum, Miller, Colon, Turner,
Pocan, Young, Bock, Coggs, Berceau, Richards, Williams and Riley.
Referred to Privacy, Electronic Commerce and Financial Institutions.
SB379,1,2
1An Act to create 25.183 (4) of the statutes;
relating to: prohibiting the
2investment board from making certain investments.
Analysis by the Legislative Reference Bureau
Under current law, a prisoner sentenced to state prison in Wisconsin may be
sent to another state for confinement in a prison in that state if the department of
corrections (DOC) contracts for the confinement of Wisconsin prisoners with the
other state, a political subdivision of the other state or a private person operating a
private prison located in the other state.
This bill prohibits the investment board from investing any of the funds under
its management in any of the following:
1. A company that contracts with DOC to confine Wisconsin prisoners in
private prisons.
2. A company that has any ownership interest in a company that contracts with
DOC to confine Wisconsin prisoners in private prisons.
3. A company that is owned, wholly or in part, by a company that contracts with
DOC to confine Wisconsin prisoners in private prisons.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB379, s. 1
1Section
1. 25.183 (4) of the statutes is created to read:
SB379,2,52
25.183
(4) Investments in companies that contract with the department of
3corrections for the confinement of prisoners in private prisons. (a) Beginning on
4the effective date of this subsection .... [revisor inserts date], the board may not invest
5any of the funds specified in ss. 25.14 and 25.17 (1) in any of the following:
SB379,2,76
1. A company under contract with the department of corrections to confine
7Wisconsin prisoners in private prisons.
SB379,2,98
2. A company that has any ownership interest in a company specified in subd.
91.
SB379,2,1110
3. A company that is owned, wholly or in part, by a company specified in subd.
111.
SB379,2,1512
(b) If the board has made any investments in any company specified in par. (a)
131. to 3. before the effective date of this subsection .... [revisor inserts date], the board
14shall sell the investments as soon as practicable in a manner consistent with the
15board's standard of responsibility under s. 25.15 (2).
