AB1045, s. 47
4Section
47. 234.87 (1) (c) of the statutes is repealed.
AB1045, s. 48
5Section
48. 234.87 (3) (b) of the statutes is repealed.
AB1045, s. 49
6Section
49. 234.87 (4) (a) of the statutes is repealed.
AB1045, s. 50
7Section
50. 234.87 (4) (b) of the statutes is renumbered 234.87 (4).
AB1045, s. 51
8Section
51. 234.87 (5) (a) of the statutes is amended to read:
AB1045,12,149
234.87
(5) (a) Subject to
pars. (b) and par. (c)
and sub. (4) (a), the authority shall
10guarantee collection of a percentage, not exceeding 90%, of the principal of a loan
11eligible for a guarantee under sub. (2). The authority shall establish the percentage
12of the principal of an eligible loan that it will guarantee. The authority may establish
13a single percentage for all guaranteed loans or establish different percentages for
14eligible loans on an individual basis.
AB1045, s. 52
15Section
52. 234.87 (5) (b) of the statutes is repealed.
AB1045, s. 55
18Section
55. 234.93 (2) (a) (intro.) of the statutes is amended to read:
AB1045,12,2419
234.93
(2) (a) (intro.) The authority
shall may enter into a guarantee
20agreement with any bank, production credit association, credit union, savings bank,
21savings and loan association or other person who wishes to participate in a loan
22program guaranteed by the Wisconsin development reserve fund. The authority may
23determine all of the following, consistent with the terms of the specific loan
24guarantee program:
AB1045, s. 56
25Section
56. 234.93 (2) (bm) of the statutes is created to read:
AB1045,13,8
1234.93
(2) (bm) A guarantee agreement between the authority and a bank,
2production credit association, credit union, savings and loan association or other
3person under par. (a) with respect to a loan guaranteed under s. 234.67, 1993 stats.,
4s. 234.68, 1993 stats., s. 234.69, 1993 stats., s. 234.765, 1993 stats., s. 234.82, 1993
5stats., s. 234.83, 1993 stats., s. 234.87 (5) (b), 1993 stats., s. 234.907, 1993 stats., or
6s. 234.935, 1993 stats., that is in effect immediately before the effective date of this
7paragraph .... [revisor inserts date], shall continue in full force and effect until the
8termination or expiration of the agreement according to its terms.
AB1045,13,1511
234.93
(4) (a) 2. To fund guarantees under all of the programs guaranteed by
12funds from the Wisconsin development reserve fund
, except for the program under
13s. 234.935, 1993 stats., at a ratio of $1 of reserve funding to
$4 $5 of total principal
14and outstanding guaranteed principal that the authority may guarantee under all
15of those programs.
AB1045, s. 58
16Section
58. 234.93 (4) (a) 3. of the statutes is created to read:
AB1045,13,1917
234.93
(4) (a) 3. To fund guarantees under the program under s. 234.935, 1993
18stats., at a ratio of $1 of reserve funding to $4 of total principal and outstanding
19guaranteed principal that the authority may guarantee under that program.
AB1045, s. 60
21Section
60. 234.94 (intro.) of the statutes is amended to read:
AB1045,13,23
22234.94 (title)
Community development finance company Definitions. 23(intro.) In
ss. 234.94 to 234.98 this subchapter:
AB1045, s. 61
24Section
61. Subchapter III (title) of chapter 234 [precedes 234.94] of the
25statutes is created to read:
AB1045,14,42
Subchapter III
3
community development
4
finance company
AB1045, s. 62
5Section
62. 560.036 (2) (a) of the statutes is amended to read:
AB1045,14,126
560.036
(2) (a) For the purposes of ss. 16.75 (3m), 16.855 (10m), 16.87 (2), 18.16,
718.64, 18.77, 25.185, 66.911, 119.495 (2), 231.27,
234.35 and 234.65 (6)
and 234.85,
8the department shall establish and periodically update a list of certified minority
9businesses, minority financial advisers and minority investment firms. Any
10business, financial adviser or investment firm may apply to the department for
11certification. For purposes of this paragraph, unless the context otherwise requires,
12a "business" includes a financial adviser or investment firm.
AB1045, s. 63
13Section
63. 560.835 (1) (d) of the statutes is amended to read:
AB1045,14,1514
560.835
(1) (d) The expansion, improvement or development of a
diaper service,
15as defined in s. 234.67 (1) (am) business that supplies and launders cloth diapers.
AB1045, s. 64
16Section
64. 600.01 (1) (b) 8. of the statutes, as affected by 1995 Wisconsin Acts
17116 and 150, is amended to read:
AB1045,14,2118
600.01
(1) (b) 8. Guarantees of the Wisconsin housing and economic
19development authority under
ss. s. 234.67,
1993 stats., s. 234.68,
1993 stats., s. 20234.69,
1993 stats., s. 234.765,
1993 stats., s. 234.82,
1993 stats., s. 234.83,
s. 234.84,
21s. 234.87,
s. 234.90,
234.905, s. 234.907
, 1993 stats., and
s. 234.91.