AB920: Bill Text

AB920, s. 52 Section 52. 25.17 (17) of the statutes is amended to read:

AB920,25,16 25.17 (17) No later than January 31 annually, submit a report to the joint committee on finance concerning the amount of credits generated by the investment board with brokerage firms during the preceding calendar year. The report shall contain a separate itemization of the amount of directed credits for services to be provided by the firm providing the credit and 3rd party 3rd-party credits for services to be provided by any firm. The report shall include information regarding utilization of 3rd-party credits by the board.

Note: See the note to the creation of s. 25.01 by this bill.

AB920, s. 53 Section 53. 25.17 (70) (a) and (b) (intro.) of the statutes are consolidated, renumbered 25.17 (70) (intro.) and amended to read:

AB920,26,5 25.17 (70) (intro.) No later than June 30 of every odd-numbered year, after receiving a report from the department of commerce under s. 560.08 (2) (m) and in consultation with the department of commerce, submit to the governor and to the presiding officer of each house of the legislature a plan for making investments in this state. The purpose of the plan is to encourage the board to make the maximum amount of investments in this state, subject to s. 25.15 and consistent with the statutory purpose of each trust or fund managed by the board. (b) The plan shall discuss potential investments to be made during the first to 5th fiscal years following submittal, and shall include, but not be limited to, the following:

Note: Accommodates the renumbering of this subsection in accordance with current style to allow proper citation and computer searching. See the next section of this bill.

AB920, s. 54 Section 54. 25.17 (70) (b) 1. to 4. of the statutes are renumbered 25.17 (70) (a) to (d), and 25.17 (70) (b) (intro.) and 3., as renumbered, are amended to read:

AB920,26,10 25.17 (70) (b) (intro.) Nonbinding management objectives for each fiscal year stated, as appropriate, as a dollar amount or as a percentage of the total amount of all investments made by the investment board, for the following:

AB920,26,14 3. The number and value of investments to be made annually in companies that are reasonably likely to use the moneys invested by the investment board to maintain or expand employment in this state. Such investments may include 1) loans any of the following:

AB920,26,16 a. Loans to corporations and other organizations to maintain or expand operations in this state; 2) purchases.

AB920,26,19 b. Purchases of new equity offerings by companies whose equities are not broadly traded on major exchanges, if the proceeds are to be used to maintain or expand operations in this state; 3) purchases.

AB920,26,20 c. Purchases of real estate located in this state ; 4) purchases.

AB920,26,22 d. Purchases of certificates of deposit or similar instruments issued by financial institutions with substantial operations in this state; 5) investments.

AB920,26,23 e. Investments in venture capital firms based in this state; 6) investments.

AB920,27,3 f. Investments in venture capital firms based in other states, if those investments are to be used to purchase securities in companies located in this state; 7) investments.

AB920,27,5 g. Investments in businesses headquartered in this state that have less than 500 employes; and 8) other.

AB920,27,7 h. Other investments that the investment board determines will result in maintenance or expansion of employment in this state.

Note: Renumbers provision in accordance with current style. See the previous section of this bill. See also the note to the creation of s. 25.01 by this bill.

AB920, s. 55 Section 55. 25.18 (1) (intro.) of the statutes is amended to read:

AB920,27,10 25.18 (1) (intro.) In addition to the powers and duties enumerated in s. 25.17, but subject to s. 25.183, the investment board may:

Note: See the note to the creation of s. 25.01 by this bill.

AB920, s. 56 Section 56. 25.18 (2) (intro.) of the statutes is amended to read:

AB920,27,13 25.18 (2) (intro.) In addition to the powers set forth in sub. (1) and s. 25.17, but subject to s. 25.183, the investment board may:

Note: See the note to the creation of s. 25.01 by this bill.

AB920, s. 57 Section 57. 25.185 (2) of the statutes is amended to read:

AB920,27,18 25.185 (2) The investment board shall attempt to ensure that 5% of the total funds expended for financial and investment analysis and for common stock and convertible bond brokerage commissions in each fiscal year is expended for the services of minority financial advisers or minority investment firms.

Note: See the note to the creation of s. 25.01 by this bill.

AB920, s. 58 Section 58. 25.185 (3) of the statutes is amended to read:

AB920,28,3 25.185 (3) The investment board shall annually report to the department of administration the total amount of moneys expended under sub. (2) for common stock and convertible bond brokerage commissions, the services of minority financial advisers and the services of minority investment firms during the preceding fiscal year.

Note: See the note to the creation of s. 25.01 by this bill.

AB920, s. 59 Section 59. 25.19 (1) of the statutes is amended to read:

AB920,28,8 25.19 (1) The state treasurer shall be the treasurer of the investment board and shall give an additional bond in such the amount and with such the corporate sureties as is required and approved by the board, the cost of which shall be borne by the board.

Note: Inserts preferred terminology. See also the note to the creation of s. 25.01 by this bill.

AB920, s. 60 Section 60. 25.19 (1m) of the statutes is amended to read:

AB920,28,12 25.19 (1m) Any of the securities purchased by the investment board for any of the funds whose investment is under the control of the board may be deposited by the board in vaults or other safe depositories either in or outside of this state.

Note: See the note to the creation of s. 25.01 by this bill.

AB920, s. 61 Section 61. 25.50 (1) (a) of the statutes is repealed.

Note: This provision defined "board" as meaning the investment board for purpose of s. 25.50. With the creation of s. 25.01 by this bill, this provision is unnecessary.

AB920, s. 62 Section 62. 25.50 (5) (intro.) of the statutes is amended to read:

AB920,29,3 25.50 (5) Investment policies. (intro.) The investment board shall formulate policies for the investment and reinvestment of moneys in the fund and the acquisition, retention, management and disposition of such investments. The board shall provide a copy of the investment policies, together with any guidelines adopted by the board to direct staff investment activity, to each local government having an investment in the fund upon the local government's request and at least annually to all investors. The board shall distribute at least annually performance information over the preceding one-year, 5-year and 10-year periods, compared with appropriate indices or benchmarks in the private sector. The investment policies shall include all of the following:

Note: See the note to the creation of s. 25.01 by this bill.

AB920, s. 63 Section 63. 25.50 (6) of the statutes is amended to read:

AB920,29,9 25.50 (6) Investment board Board to invest, reinvest pooled funds. In the amounts available for investment purposes and subject to the policies formulated by the investment board, the investment board shall invest and reinvest moneys in the fund and acquire, retain, manage, including the exercise of any voting rights, and dispose of investments of the fund.

Note: See the note to the creation of s. 25.01 by this bill.

AB920, s. 64 Section 64. 25.65 (1) (a) of the statutes is repealed.

Note: This provision defined "board" as meaning the investment board for purpose of s. 25.65. With the creation of s. 25.01 by this bill, this provision is unnecessary.

AB920, s. 65 Section 65. 27.01 (5) of the statutes is amended to read:

AB920,29,16 27.01 (5) Roadside parks. All areas designated as roadside parks shall be a part of the state park system. Roadside parks will consist of naturally attractive parcels of land (, 5 acres or more in size), immediately contiguous to a state trunk highway. Each such area shall carry a distinctive name and shall be managed and developed as a part of the state park system.

Note: Deletes unnecessary parentheses.

AB920, s. 66 Section 66. 27.01 (7) (c) (intro.) of the statutes is amended to read:

AB920,29,19 27.01 (7) (c) Vehicle admission receipt; exemptions. (intro.) No vehicle admission receipt is required for any of the following:

Note: Rewrites (intro.) to conform with current style.

AB920, s. 67 Section 67. 27.01 (7) (c) 1. to 8. of the statutes are amended to read:

AB920,30,2 27.01 (7) (c) 1. Any vehicle in an admission area between November 1 and March 31, except as the department provides by rule;.

AB920,30,4 2. Any vehicle operated by an employe, agent or officer of the state, the United States or a local unit of government while in the performance of official duties;.

AB920,30,5 3. Any vehicle when furnishing services or supplies; .

AB920,30,6 4. Any vehicle traveling on a public highway in a state park or state forest;.

AB920,30,8 5. Any vehicle within state parks or state park areas designated by the department;.

AB920,30,10 6. Any vehicle, except a motor bus, occupied by a person holding a senior citizen recreation card issued under s. 29.624;.

AB920,30,12 7. Any vehicle, except a motor bus, occupied by a person holding a conservation patron license issued under s. 29.235;.

AB920,30,16 8. Any vehicle towed behind or carried on another vehicle. The department may issue a special permit for a towed or carried vehicle in order to determine compliance with and facilitate enforcement of the vehicle admission receipt requirement; or.

Note: Replaces punctuation for conformity with current style and internal consistency.

AB920, s. 68 Section 68. 27.05 (intro.) of the statutes is amended to read:

AB920,31,2 27.05 Powers of commission or general manager. (intro.) The county park commission except, or the general manager in counties with a county executive or county administrator, the general manager, shall have charge and supervision of all county parks, and all lands heretofore or hereafter acquired by the county for park or reservation purposes; and. The county park commission or general manager, subject to the general supervision of the county board and to such regulations as it may prescribe prescribed by the county board, except as provided under s. 27.03 (2), may do any of the following:

Note: Reorders text to improve readability and clarity. Deletes unnecessary "heretofore or hereafter" in conformity with current style.

AB920, s. 69 Section 69. 27.05 (1) of the statutes is amended to read:

AB920,31,5 27.05 (1) Lay out, improve, maintain and govern all such county parks and open spaces; provide.

AB920,31,10 (1g) Provide by contract with sanitary districts, counties, or towns, cities or villages, subject to the approval of the county board of supervisors, or in any other manner, for the disposal of sewage arising from the use of such county parks and take all action necessary to prevent the pollution of park or parkway areas or any portion thereof by sewage emanating from upland areas; lay.

AB920,31,16 (1m) Lay out, determine and prescribe building lines along, grade, construct, improve and maintain roads, parkways, boulevards and bridges therein in county parks or connecting the same county parks with any other parks or open spaces or with any municipality in the county, using such methods and materials as that it deems considers expedient; determine and prescribe building lines along the same; and make.

AB920,31,18 (1s) Make rules for the regulation of the use and enjoyment thereof of the county parks and open spaces by the public;.

Note: Subdivides provision and modifies punctuation for conformity with current style and internal consistency.

AB920, s. 70 Section 70. 27.05 (2) of the statutes is amended to read:

AB920,31,21 27.05 (2) Accept, in the name of the county, grants, conveyances and devises of land and bequests and donations of money to be used for park purposes ;.

Note: Replaces punctuation for conformity with current style and internal consistency.

AB920, s. 71 Section 71. 29.522 (1) (a) 1., (b) 1. and (c) 2. of the statutes are amended to read:

AB920,32,4 29.522 (1) (a) 1. One net of a general hoop or circular-like structure commonly called a crib or pot with numbers of hoops holding, encasing or inclosing enclosing net webbing.

AB920,32,6 (b) 1. One net of a general hoop or circular-like structure called a crib or pot with numbers of hoops holding, encasing or inclosing enclosing net webbing.

AB920,32,9 (c) 2. Two fence-like nets called hearts set one on each side of the tunnel mouth and used to form a preliminary inclosure enclosure resembling a heart in shape with no cover on the top or bottom.

Note: Inserts preferred spelling.

AB920, s. 72 Section 72. 29.924 (4) of the statutes is amended to read:

AB920,32,17 29.924 (4) Access to storage places. The owner or occupant of any cold storage cold-storage warehouse or building used for the storage or retention of wild animals or carcasses shall permit the department and its wardens to enter and examine the premises subject to ss. 66.122 and 66.123. The owner or occupant, or the agent or employe of the owner or occupant, shall deliver to the officer any wild animal or carcass, in his or her possession during the closed season, whether taken within or without the state.

Note: Corrects spelling.

AB920, s. 73 Section 73. 31.06 (1) of the statutes is amended to read:

AB920,33,5 31.06 (1) Upon receipt of an application for a permit under s. 31.05 the department may order a hearing or it may mail a notice that it will proceed on the application without public hearing unless a request for a public hearing is filed as hereinafter provided in this section. The notice shall be mailed to the clerk of each municipality directly affected thereby and the by the proposed dam. The department may give further or other notice as it deems considers proper. The department shall mail a copy of the notice to the applicant who shall cause the same notice to be published in each county in which affected riparian lands are located as a class 1 notice, under ch. 985. If a hearing is not requested in writing within 30 days after mailing of the notice, the department may waive the hearing.

Note: Inserts specific cross-references and replaces disfavored term.

AB920, s. 74 Section 74. 31.06 (3) of the statutes is renumbered 31.06 (3) (a) and amended to read:

AB920,33,12 31.06 (3) (a) At such a hearing under this section, or any adjournment thereof of the hearing, the department shall consider the application, and shall take evidence offered by the applicant and other persons in support thereof or in opposition thereto, supporting or opposing the proposed dam. The department may require the amendment of the application, and if.

AB920,33,18 (b) If it appears that the construction, operation or maintenance of the proposed dam is in the public interest, considering ecological, aesthetic, economic and recreational values, the department shall so find and grant a permit to the applicant, provided the department also finds that the applicant has complied with s. 31.14 (2) or (3) and, where applicable, with s. 31.05 (3), based on the department's own estimate of the area of the flowage.

AB920,34,7 (c) 1. The enjoyment of natural scenic beauty and environmental quality are declared to be public rights to be considered along with other public rights and the economic need of electric power for the full development of agricultural and industrial activity and other useful purposes in the area to be served. In considering public rights to the recreational use and natural scenic beauty of the river, the department shall investigate the potentialities of the lake and lake shore lakeshore created by the flowage and shall weigh the recreational use and scenic beauty thereof of the lake and lakeshore against the known recreational use and scenic beauty of the river in its natural state, and the. The department shall further weigh the known recreational use and scenic beauty of the particular section of river involved against the known recreational use and scenic beauty of other sections of the same river and other rivers in the area remaining in their natural state (without regard to plans of other dams subsequently filed or to be filed); if it.