AB100-engrossed,1654,3
1234.60
(2) The limitations in ss. 234.18 (1)
and (2), 234.40, 234.50,
234.61, 2234.65
, and 234.66
and 234.70 do not apply to bonds or notes issued under this
3section.
AB100-engrossed,1654,5
5234.622 Definitions. (intro.) In
this subchapter ss. 234.621 to 234.626:
AB100-engrossed,1654,87
234.65
(1) (b) The limits in ss. 234.18 (1)
and (2), 234.40, 234.50, 234.60,
234.61
8and 234.66
and 234.70 do not apply to bonds or notes issued under this section.
AB100-engrossed,1654,1310
234.65
(1) (c) The authority may not issue more than $200,000,000 in aggregate
11principal amount of bonds and notes under this section, excluding
bonds or notes
12secured by a capital reserve fund pursuant to sub. (6) (am) and excluding bonds and
13notes issued to refund outstanding bonds or notes issued under this section.
AB100-engrossed,1654,1715
234.65
(1) (d)
Except as provided in sub. (6), s. Section 234.15 does not apply
16to bonds or notes issued under this section
, and any bond or note issued under this
17section shall contain on its face a statement to that effect.
AB100-engrossed,1654,2419
234.65
(1) (gm) The authority may not grant a loan in an amount greater than
204% of the amount of bonds and notes authorized under par. (c) for the benefit of a
21business that, together with all of its affiliates and subsidiaries and its parent
22company, has current gross annual sales in excess of $5,000,000.
This paragraph
23does not apply to an economic development loan to finance a project described in s.
24234.01 (4n) (d).
AB100-engrossed,1655,4
1234.65
(1) (gp) The authority may not refinance a loan to a business
which that 2has been a participant in a tax incremental financing district.
This paragraph does
3not apply to an economic development loan to finance a project described in s. 234.01
4(4n) (d).
AB100-engrossed,1655,118
234.65
(3) (d) The business receiving the benefits of the loan proceeds, together
9with all of its affiliates and subsidiaries and its parent company, has current gross
10annual sales of $35,000,000 or less.
This paragraph does not apply to an economic
11development loan to finance a project described in s. 234.01 (4n) (d).
AB100-engrossed,1655,1613
234.65
(3) (e) The economic development loan will not be used to refinance
14existing debt, unless it is in conjunction with an expansion of the business or job
15creation. This paragraph does not apply to an economic development loan to finance
16an economic development project described under s. 234.01 (4n) (c)
or (d).
AB100-engrossed,1655,2322
234.66
(3) (b) The limits in ss. 234.18 (1)
and (2), 234.40, 234.50, 234.60,
234.61
23and 234.65
and 234.70 do not apply to bonds or notes issued under this section.
AB100-engrossed,1656,3
1234.66
(3) (c) The authority may not issue more than
$10,000,000 $17,500,000 2in aggregate principal amount of bonds and notes under this section, excluding bonds
3and notes issued to refund outstanding bonds and notes issued under this section.
AB100-engrossed, s. 3351r
4Section 3351r. Subchapter II (title) of chapter 234 [precedes 234.67] of the
5statutes is created to read:
AB100-engrossed,1656,87
Subchapter II
8
Loan Guarantee Programs
AB100-engrossed, s. 3355c
11Section 3355c. 234.70 of the statutes is renumbered 234.61, and 234.61 (1),
12as renumbered, is amended to read:
AB100-engrossed,1656,2013
234.61
(1) Upon the authorization of the department of health and family
14services, the authority may issue bonds or notes and make loans for the financing of
15housing projects which are residential facilities as defined in s. 46.28 (1) (d) and the
16development costs of those housing projects, if the department of health and family
17services has approved the residential facilities for financing under s. 46.28 (2). The
18limitations in ss. 234.18 (1)
and (2), 234.40, 234.50, 234.60, 234.65 and 234.66 do not
19apply to bonds or notes issued under this section. The definition of "nonprofit
20corporation" in s. 234.01 (9) does not apply to this section.
AB100-engrossed,1657,4
3234.83 (title)
Targeted Small business development loan guarantee
4program.
AB100-engrossed,1657,76
234.83
(1) (c) The lender
is a financial institution that enters into an agreement
7under s. 234.93 (2) (a).
AB100-engrossed, s. 3365
8Section
3365. 234.83 (2) (a) of the statutes is renumbered 234.83 (2) (a) (intro.)
9and amended to read:
AB100-engrossed,1657,1110
234.83
(2) (a) (intro.) A business, as defined in s. 560.60 (2)
., to which all of the
11following apply:
AB100-engrossed,1657,1313
234.83
(2) (a) 1. The owner of the business is actively engaged in the business.
AB100-engrossed,1657,1414
2. The business employs 50 or fewer employes on a full-time basis.
AB100-engrossed,1657,1715
3. The authority has not received a certification under s. 49.855 (7) that the
16owner of the business is delinquent in making child support or maintenance
17payments.
AB100-engrossed, s. 3368
20Section
3368. 234.83 (3) (a) 1. of the statutes is renumbered 234.83 (3) (a)
21(intro.) and amended to read:
AB100-engrossed,1657,2422
234.83
(3) (a) (intro.) The borrower uses the loan proceeds for a business
23development project
in a targeted area. Loan proceeds may be used for direct or
24related expenses associated with
any of the following:
AB100-engrossed,1658,2
11. The expansion or acquisition of a business, including the purchase or
2improvement of land, buildings, machinery, equipment or inventory.
AB100-engrossed, s. 3369
3Section
3369. 234.83 (3) (a) 2. to 9. of the statutes are renumbered 234.83 (3)
4(b) to (i), and 234.83 (3) (b), (d), (e), (f), (g), (h) and (i), as renumbered, are amended
5to read:
AB100-engrossed,1658,96
234.83
(3) (b) Loan proceeds are not used to refinance existing debt or for
7operating or entertainment expenses
, expenses related to the production of an
8agricultural commodity, as defined in s. 94.67 (2), or expenses related to a
9community-based residential facility.
AB100-engrossed,1658,1210
(d) The loan term does not extend beyond 15 years after the date on which the
11financial institution lender disburses the loan unless
the loan is extended by the
12authority
agrees to an extension of the loan term.
AB100-engrossed,1658,1413
(e) The total principal amount of all loans to the borrower that are guaranteed
14under this section does not exceed
$250,000 $750,000.
AB100-engrossed,1658,1615
(f) The
financial institution lender obtains a security interest in the physical
16plant, equipment, machinery or other assets.
AB100-engrossed,1658,1817
(g) The
financial institution lender believes that it is reasonably likely that the
18borrower will be able to repay the loan in full with interest.
AB100-engrossed,1658,2019
(h) The
financial institution lender agrees to the percentage of guarantee
20established for the loan by the authority.
AB100-engrossed,1658,2221
(i) The authority believes that the loan will have a positive
economic impact
on
22the targeted area in terms of job creation
and
or retention.
AB100-engrossed,1659,3
1234.83
(3) (a) 2. The start-up, expansion or acquisition of a day care business,
2including the purchase or improvement of land, buildings, machinery, equipment or
3inventory.
AB100-engrossed,1659,166
234.83
(4) (title)
Guarantee of collection repayment. (a) Subject to par. (b),
7the authority
shall may guarantee
collection repayment of a
percentage, not
8exceeding 90%, portion of the principal of any loan eligible for a guarantee under sub.
9(1).
That portion may not exceed 80% of the principal of the loan or $200,000,
10whichever is less. The authority shall establish the
percentage portion of the
11principal of an eligible loan that will be guaranteed, using the procedures described
12in the agreement under s. 234.93 (2) (a). The authority may establish a single
13percentage portion for all guaranteed loans
that do not exceed $250,000 and a single
14portion for all guaranteed loans that exceed $250,000 or establish
on an individual
15basis different
percentages portions for eligible loans
on an individual basis that do
16not exceed $250,000 and different portions for eligible loans that exceed $250,000.
AB100-engrossed,1659,2018
234.83
(4) (b) Except as provided in s. 234.93 (3), the total outstanding
19guaranteed principal amount of all loans that the authority may guarantee under
20par. (a) may not exceed
$10,000,000 $9,900,000.
AB100-engrossed,1659,24
23234.86 Drinking water loan guarantee program. (1) Definitions. In this
24section:
AB100-engrossed,1660,3
1(a) "Community water system" means a public water system that serves at
2least 15 service connections used by year-round residents or that regularly serves
3at least 25 year-round residents.
AB100-engrossed,1660,44
(b) "Department" means the department of natural resources.
AB100-engrossed,1660,55
(c) "Local governmental unit" has the meaning given in s. 281.61 (1) (a).
AB100-engrossed,1660,76
(d) "Noncommunity water system" means a public water system that is not a
7community water system.
AB100-engrossed,1660,88
(e) "Public water system" has the meaning given in s. 281.61 (1) (c).
AB100-engrossed,1660,11
9(2) Guarantee requirements. The authority may use money from the
10Wisconsin drinking water reserve fund under s. 234.933 to guarantee a loan under
11this section if all of the following apply:
AB100-engrossed,1660,1212
(a) The borrower is not a local governmental unit and is one of the following:
AB100-engrossed,1660,1313
1. The owner of a community water system.
AB100-engrossed,1660,1414
2. The owner of a noncommunity water system and is not operated for profit.
AB100-engrossed,1660,1515
(b) The loan qualifies as an eligible loan under sub. (3).
AB100-engrossed,1660,1716
(c) The lender is a financial institution that enters into an agreement under s.
17234.933 (3) (a).
AB100-engrossed,1660,18
18(3) Eligible loans. A loan is an eligible loan if all of the following apply:
AB100-engrossed,1660,2219
(a) The department determines that the loan will facilitate compliance with
20national primary drinking water regulations under
42 USC 300g-1 or otherwise
21significantly further the health protection objectives of the Safe Drinking Water Act,
2242 USC 300f to
300j-26.
AB100-engrossed,1660,2423
(b) The department determines that the loan satisfies the requirements under
24s. 281.625 (2).
AB100-engrossed,1661,7
1(4) Guarantee of collection. (a) Subject to par. (b), the authority may
2guarantee collection of a percentage, not exceeding 80%, of the principal of any loan
3eligible for a guarantee under this section. The authority shall establish the
4percentage of the unpaid principal of an eligible loan that will be guaranteed using
5the procedures described in the guarantee agreement under s. 234.933 (3) (a). The
6authority may establish a single percentage for all guaranteed loans or establish
7different percentages for eligible loans on an individual basis.
AB100-engrossed,1661,98
(b) Except as provided in s. 234.933 (4), the total outstanding principal amount
9of all guaranteed loans under par. (a) may not exceed $3,000,000.
