1995 WISCONSIN ACT 332
An Act to repeal 231.01 (3c) (c) and (d); and to amend 66.521 (2) (k) 22., 231.03 (6) (e), 231.03 (6) (f), 231.03 (13) and 231.03 (14) of the statutes; relating to: issuing bonds to finance certain child care centers.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
332,1
Section 1
. 66.521 (2) (k) 22. of the statutes is amended to read:
66.521 (2) (k) 22. Child care centers, as defined in s. 231.01 (3c), except that this subdivision does not apply on or after March 31, 1994 the first day of the 48th month beginning after the effective date of this subdivision .... [revisor inserts date].
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Section 2
. 231.01 (3c) (c) and (d) of the statutes are repealed.
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Section 3
. 231.03 (6) (e) of the statutes is amended to read:
231.03 (6) (e) Finance any project undertaken for a child care center by a child care provider, except that this paragraph does not apply on or after March 31, 1994 the first day of the 48th month beginning after the effective date of this paragraph .... [revisor inserts date].
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Section 4
. 231.03 (6) (f) of the statutes is amended to read:
231.03 (6) (f) Refinance outstanding debt of any participating child care provider, except that this paragraph does not apply on or after March 31, 1994 the first day of the 48th month beginning after the effective date of this paragraph .... [revisor inserts date].
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Section 5
. 231.03 (13) of the statutes is amended to read:
231.03 (13) Make loans to any participating health institution, participating educational institution or, before March 31, 1994 the first day of the 48th month beginning after the effective date of this subsection .... [revisor inserts date], participating child care provider for the cost of a project in accordance with an agreement between the authority and the participating health institution, participating educational institution or participating child care provider. The authority may secure the loan by a mortgage or other security arrangement on the health facility, educational facility or child care center granted by the participating health institution, participating educational institution or participating child care provider to the authority. The loan may not exceed the total cost of the project as determined by the participating health institution, participating educational institution or participating child care provider and approved by the authority.
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Section 6
. 231.03 (14) of the statutes is amended to read:
231.03 (14) Make loans to a health facility, educational facility or, before March 31, 1994
the first day of the 48th month beginning after the effective date of this subsection .... [revisor inserts date], child care center for which bonds may be issued under sub. (6) (b), (d) or (f) to refinance the health facility's, educational facility's or child care center's outstanding debt. The authority may secure the loan or bond by a mortgage or other security arrangement on the health facility, educational facility or child care center granted by the participating health institution, participating educational institution or participating child care provider to the authority.
