SB77,1360,1410
(c) Subject to
rules promulgated procedures and standards prescribed by the
11department of administration under s. 16.611, if the authority transfers to or
12maintains in optical disk or electronic format any records in its custody, the authority
13shall ensure that the records stored in that format are protected from unauthorized
14destruction.
SB77, s. 3325
15Section
3325. 233.12 (2) (a) 2. of the statutes is amended to read:
SB77,1360,2116
233.12
(2) (a) 2. The reproduction is on film which complies with the minimum
17standards of quality for microfilm reproductions, as established by rule of the public
18records board, or the optical disk or electronic copy and the copy generated from
19optical disk or electronic format comply with the minimum standards of quality for
20such copies, as
established by rule of prescribed by the department of administration
21under s. 16.611.
SB77, s. 3326
22Section
3326. 233.40 (4) (d) of the statutes is amended to read:
SB77,1360,2423
233.40
(4) (d) Any pupil referred to the
hospitals or their clinics by the
secretary
24of education state superintendent of public instruction under s. 115.53 (4).
SB77, s. 3327
1Section
3327. Subchapter I (title) of chapter 234 [precedes 234.01] of the
2statutes is created to read:
SB77,1361,74
Subchapter I
5
General provisions;
6
Housing and economic
7
Development programs
SB77, s. 3328
8Section
3328. 234.01 (4n) (a) 3m. e. of the statutes is created to read:
SB77,1361,109
234.01
(4n) (a) 3m. e. The facility is located in a targeted area, as determined
10by the authority after considering the factors set out in s. 560.605 (2m) (a) to (h).
SB77, s. 3329
11Section
3329. 234.01 (4n) (d) of the statutes is repealed.
SB77, s. 3330
12Section
3330. 234.03 (2m) of the statutes is amended to read:
SB77,1361,1413
234.03
(2m) To issue notes and bonds in accordance with ss. 234.08, 234.40,
14234.50, 234.60,
234.61, 234.626, 234.65
, and 234.66
and 234.70.
SB77, s. 3331
15Section
3331. 234.265 (2) of the statutes is amended to read:
SB77,1361,2316
234.265
(2) Records or portions of records consisting of personal or financial
17information provided by a person seeking a grant or loan under s. 234.08, 234.49,
18234.59,
234.61, 234.65,
234.67, 234.68, 234.69, 234.70, 234.765, 234.82, 234.83,
19234.84,
234.87 234.88, 234.90,
234.905, 234.907 or 234.91, seeking a loan under ss.
20234.621 to 234.626, seeking financial assistance under s. 234.66
or under ss. 234.75
21to 234.802, seeking investment of funds under s. 234.03 (18m) or in which the
22authority has invested funds under s. 234.03 (18m), unless the person consents to
23disclosure of the information.
SB77, s. 3332
24Section
3332. 234.40 (4) of the statutes is amended to read:
SB77,1362,5
1234.40
(4) The limitations established in
s. ss. 234.18 (1) and (2), 234.50,
2234.60,
234.61, 234.65
, and 234.66
or 234.70 are not applicable to bonds issued under
3the authority of this section. The authority may not have outstanding at any one
4time bonds for veterans housing loans in an aggregate principal amount exceeding
5$61,945,000, excluding bonds being issued to refund outstanding bonds.
SB77, s. 3333
6Section
3333. 234.50 (4) of the statutes is amended to read:
SB77,1362,137
234.50
(4) The limitations established in
s. ss. 234.18 (1) and (2), 234.40,
8234.60,
234.61, 234.65
, and 234.66
or 234.70 are not applicable to bonds issued under
9the authority of this section. The authority may not have outstanding at any one
10time bonds for housing rehabilitation loans in an aggregate principal amount
11exceeding $100,000,000, excluding bonds being issued to refund outstanding bonds.
12The authority shall consult with and coordinate the issuance of bonds with the
13building commission prior to the issuance of bonds.
SB77, s. 3334
14Section
3334. 234.60 (2) of the statutes is amended to read:
SB77,1362,1715
234.60
(2) The limitations in ss. 234.18 (1) and (2), 234.40, 234.50,
234.61, 16234.65
, and 234.66
and 234.70 do not apply to bonds or notes issued under this
17section.
SB77, s. 3335
18Section
3335. 234.622 (intro.) of the statutes is amended to read:
SB77,1362,19
19234.622 Definitions. (intro.) In
this subchapter ss. 234.621 to 234.626:
SB77, s. 3336
20Section
3336. 234.65 (1) (b) of the statutes is amended to read:
SB77,1362,2221
234.65
(1) (b) The limits in ss. 234.18 (1) and (2), 234.40, 234.50, 234.60,
234.61
22and 234.66
and 234.70 do not apply to bonds or notes issued under this section.
SB77, s. 3337
23Section
3337. 234.65 (1) (c) of the statutes is amended to read:
SB77,1363,224
234.65
(1) (c) The authority may not issue more than $200,000,000 in aggregate
25principal amount of bonds and notes under this section, excluding
bonds or notes
1secured by a capital reserve fund pursuant to sub. (6) (am) and excluding bonds and
2notes issued to refund outstanding bonds or notes issued under this section.
SB77, s. 3338
3Section
3338. 234.65 (1) (d) of the statutes is amended to read:
SB77,1363,64
234.65
(1) (d)
Except as provided in sub. (6), s. Section 234.15 does not apply
5to bonds or notes issued under this section
, and any bond or note issued under this
6section shall contain on its face a statement to that effect.
SB77, s. 3339
7Section
3339. 234.65 (1) (gm) of the statutes is amended to read:
SB77,1363,138
234.65
(1) (gm) The authority may not grant a loan in an amount greater than
94% of the amount of bonds and notes authorized under par. (c) for the benefit of a
10business that, together with all of its affiliates and subsidiaries and its parent
11company, has current gross annual sales in excess of $5,000,000.
This paragraph
12does not apply to an economic development loan to finance a project described in s.
13234.01 (4n) (d).
SB77, s. 3340
14Section
3340. 234.65 (1) (gp) of the statutes is amended to read:
SB77,1363,1815
234.65
(1) (gp) The authority may not refinance a loan to a business
which that 16has been a participant in a tax incremental financing district.
This paragraph does
17not apply to an economic development loan to finance a project described in s. 234.01
18(4n) (d).
SB77, s. 3341
19Section
3341. 234.65 (1) (h) of the statutes is repealed.
SB77, s. 3342
20Section
3342. 234.65 (1) (hm) of the statutes is repealed.
SB77, s. 3343
21Section
3343. 234.65 (3) (d) of the statutes is amended to read:
SB77,1363,2522
234.65
(3) (d) The business receiving the benefits of the loan proceeds, together
23with all of its affiliates and subsidiaries and its parent company, has current gross
24annual sales of $35,000,000 or less.
This paragraph does not apply to an economic
25development loan to finance a project described in s. 234.01 (4n) (d).
SB77, s. 3344
1Section
3344. 234.65 (3) (e) of the statutes is amended to read:
SB77,1364,52
234.65
(3) (e) The economic development loan will not be used to refinance
3existing debt, unless it is in conjunction with an expansion of the business or job
4creation. This paragraph does not apply to an economic development loan to finance
5an economic development project described under s. 234.01 (4n) (c)
or (d).
SB77, s. 3345
6Section
3345. 234.65 (5) (intro.) of the statutes is amended to read:
SB77,1364,117
234.65
(5) (intro.) On or before July 1,
1985 1998, and every July 1 thereafter,
8the
department of commerce authority shall submit to the chief clerk of each house
9of the legislature, for distribution to the appropriate standing committees under s.
1013.172 (3), a report which shall address the effects of lending under this section in
11the following areas:
SB77, s. 3346
12Section
3346. 234.65 (6) of the statutes is repealed.
SB77, s. 3347
13Section
3347. 234.65 (7) of the statutes is repealed.
SB77, s. 3348
14Section
3348. 234.65 (8) of the statutes is repealed.
SB77, s. 3349
15Section
3349. 234.65 (10) of the statutes is repealed.
SB77, s. 3350
16Section
3350. 234.66 (3) (b) of the statutes is amended to read:
SB77,1364,1817
234.66
(3) (b) The limits in ss. 234.18 (1) and (2), 234.40, 234.50, 234.60,
234.61
18and 234.65
and 234.70 do not apply to bonds or notes issued under this section.
SB77, s. 3351
19Section
3351. 234.66 (3) (c) of the statutes is amended to read:
SB77,1364,2220
234.66
(3) (c) The authority may not issue more than
$10,000,000 $17,500,000 21in aggregate principal amount of bonds and notes under this section, excluding bonds
22and notes issued to refund outstanding bonds and notes issued under this section.
SB77, s. 3352
23Section
3352. 234.67 of the statutes is repealed.
SB77, s. 3353
24Section
3353. 234.68 of the statutes is repealed.
SB77, s. 3354
25Section
3354. 234.69 of the statutes is repealed.
SB77, s. 3355
1Section
3355. 234.70 of the statutes is renumbered 234.61.
SB77, s. 3358
4Section
3358. 234.765 of the statutes is repealed.
SB77, s. 3360
6Section
3360. 234.802 of the statutes is renumbered 234.92.
SB77, s. 3362
8Section
3362. 234.83 (title) of the statutes is amended to read:
SB77,1365,10
9234.83 (title)
Targeted Small business development loan guarantee
10program.
SB77, s. 3363
11Section
3363. Subchapter II (title) of chapter 234 [precedes 234.83] of the
12statutes is created to read:
SB77,1365,1313
Chapter 234
SB77,1365,1514
Subchapter II
15
Loan guarantee programs
SB77, s. 3364
16Section
3364. 234.83 (1) (c) of the statutes is amended to read:
SB77,1365,1817
234.83
(1) (c) The lender
is a financial institution that enters into an agreement
18under s. 234.93 (2) (a).
SB77, s. 3365
19Section
3365. 234.83 (2) (a) of the statutes is renumbered 234.83 (2) (a) (intro.)
20and amended to read:
SB77,1365,2221
234.83
(2) (a) (intro.) A business, as defined in s. 560.60 (2)
., to which all of the
22following apply:
SB77, s. 3366
23Section
3366. 234.83 (2) (a) 1. to 3. of the statutes are created to read:
SB77,1365,2424
234.83
(2) (a) 1. The owner of the business is actively engaged in the business.
SB77,1365,2525
2. The business employs 50 or fewer employes on a full-time basis.
SB77,1366,3
13. The authority has not received a certification under s. 49.855 (7) that the
2owner of the business is delinquent in making child support or maintenance
3payments.
SB77, s. 3367
4Section
3367. 234.83 (3) (a) (intro.) of the statutes is renumbered 234.83 (3)
5(intro.).
SB77, s. 3368
6Section
3368. 234.83 (3) (a) 1. of the statutes is renumbered 234.83 (3) (a)
7(intro.) and amended to read:
SB77,1366,108
234.83
(3) (a) (intro.) The borrower uses the loan proceeds for a business
9development project
in a targeted area. Loan proceeds may be used for direct or
10related expenses associated with
any of the following:
SB77,1366,12
111. The expansion or acquisition of a business, including the purchase or
12improvement of land, buildings, machinery, equipment or inventory.
SB77, s. 3369
13Section
3369. 234.83 (3) (a) 2. to 9. of the statutes are renumbered 234.83 (3)
14(b) to (i), and 234.83 (3) (b), (d), (e), (f), (g), (h) and (i), as renumbered, are amended
15to read:
SB77,1366,1916
234.83
(3) (b) Loan proceeds are not used to refinance existing debt or for
17operating or entertainment expenses
, expenses related to the production of an
18agricultural commodity, as defined in s. 94.67 (2), or expenses related to a
19community-based residential facility.
SB77,1366,2220
(d) The loan term does not extend beyond 15 years after the date on which the
21financial institution lender disburses the loan unless
the loan is extended by the
22authority
agrees to an extension of the loan term.
SB77,1366,2423
(e) The total principal amount of all loans to the borrower that are guaranteed
24under this section does not exceed
$250,000 $750,000.
SB77,1367,2
1(f) The
financial institution lender obtains a security interest in the physical
2plant, equipment, machinery or other assets.
SB77,1367,43
(g) The
financial institution lender believes that it is reasonably likely that the
4borrower will be able to repay the loan in full with interest.
SB77,1367,65
(h) The
financial institution lender agrees to the percentage of guarantee
6established for the loan by the authority.
SB77,1367,87
(i) The authority believes that the loan will have a positive
economic impact
on
8the targeted area in terms of job creation
and
or retention.
SB77, s. 3370
9Section
3370. 234.83 (3) (a) 2. of the statutes is created to read:
SB77,1367,1210
234.83
(3) (a) 2. The start-up, expansion or acquisition of a day care business,
11including the purchase or improvement of land, buildings, machinery, equipment or
12inventory.
SB77, s. 3371
13Section
3371. 234.83 (3) (b) of the statutes is repealed.
SB77, s. 3372
14Section
3372. 234.83 (4) (title) and (a) of the statutes are amended to read:
SB77,1367,2515
234.83
(4) (title)
Guarantee of collection repayment. (a) Subject to par. (b),
16the authority
shall may guarantee
collection repayment of a
percentage, not
17exceeding 90%, portion of the principal of any loan eligible for a guarantee under sub.
18(1).
That portion may not exceed 80% of the principal of the loan or $200,000,
19whichever is less. The authority shall establish the
percentage portion of the
20principal of an eligible loan that will be guaranteed, using the procedures described
21in the agreement under s. 234.93 (2) (a). The authority may establish a single
22percentage portion for all guaranteed loans
that do not exceed $250,000 and a single
23portion for all guaranteed loans that exceed $250,000 or establish
on an individual
24basis different
percentages portions for eligible loans
on an individual basis that do
25not exceed $250,000 and different portions for eligible loans that exceed $250,000.