SB45, s. 2374 21Section 2374. 234.55 (3) of the statutes is amended to read:
SB45,1107,2422 234.55 (3) Any balance remaining after satisfaction of all obligations under
23sub. (2) shall be transferred to the housing rehabilitation loan program
24administration fund only for the purpose of deposit in the state general fund.
SB45, s. 2375 25Section 2375. 234.59 (3) (c) of the statutes is amended to read:
SB45,1108,9
1234.59 (3) (c) The authority shall notify an eligible lender if it receives a
2certification under s. 49.855 (7) that a person is delinquent in child support or
3maintenance payments or owes past support, medical expenses or birth expenses
a
4person's name appears on the statewide support lien docket under s. 49.854 (2) (b)
.
5An eligible lender may not make a loan to an applicant if it receives notification under
6this paragraph concerning the applicant, unless the applicant provides to the lender
7a payment agreement that has been approved by the county child support agency
8under s. 59.53 (5) and that is consistent with rules promulgated under s. 49.858 (2)
9(a)
.
SB45, s. 2376 10Section 2376. 234.64 of the statutes is created to read:
SB45,1108,11 11234.64 Biotechnology development finance company. (1) In this section:
SB45,1108,1212 (a) "Biotechnology" means technology related to life sciences.
SB45,1108,1313 (b) "Capital participation instrument" means all of the following:
SB45,1108,1414 1. Any of the following or an option or other right to acquire any of the following:
SB45,1108,1515 a. Common or preferred capital stock.
SB45,1108,1616 b. Convertible securities.
SB45,1108,1717 c. Evidences of long-term or short-term indebtedness.
SB45,1108,1818 d. Warrants.
SB45,1108,1919 e. Subscriptions.
SB45,1108,2020 f. Partnership or membership interests.
SB45,1108,2221 2. Royalties or other lawful derivations of a capital participation instrument
22listed under subd. 1.
SB45,1109,423 (c) "Cost of a project" means costs associated with the design, planning and
24implementation of a project that, in accordance with sound business and financial
25practices, are appropriate charges to the project. The costs may include the costs of

1planning and design, options to buy land, feasibility or other studies, equipment,
2seed money, construction, working capital and any other costs determined by the
3biotechnology development finance company to be necessary to the purposes of this
4section.
SB45,1109,65 (d) "Project" means commercial, industrial or other economic activity that is
6undertaken by a biotechnology company in this state.
SB45,1109,9 7(2) (a) The authority may organize and maintain a biotechnology development
8finance company as a nonstock, nonprofit corporation under ch. 181 for the exclusive
9purpose of investing in new or existing biotechnology companies in this state.
SB45,1109,1310 (b) Subject to par. (c), the biotechnology development finance company may
11purchase a capital participation instrument of a project. The biotechnology
12development finance company shall ensure that all of the following apply with
13respect to a project before any investment is made in the project:
SB45,1109,1514 1. The biotechnology company has certified that the project plans conform to
15all applicable environmental, zoning, building, planning or sanitation laws.
SB45,1109,1716 2. There is a reasonable expectation that the biotechnology company will be
17successful.
SB45,1109,1818 3. Private industry has not provided sufficient capital required for the project.
SB45,1109,2219 4. The investment is necessary to the successful completion of the proposed
20project because other investment in the project is unavailable in the traditional
21capital markets, or because capital has been offered on terms that would preclude
22the success of the project.
SB45,1110,223 5. Provision has been made by contract for adequate reporting of financial data
24by the project to the biotechnology development finance company. Those provisions

1may include a requirement for an annual or other periodic audit of the project's
2financial records.
SB45,1110,43 6. The proceeds of the purchase will be used solely in connection with the costs
4of the project.
SB45,1110,55 7. The biotechnology company is able to manage its project responsibilities.
SB45,1110,86 (c) 1. The biotechnology development finance company may not own more than
749% of the voting stock or other interest in any enterprise as a result of a purchase
8under par. (b).
SB45,1110,109 2. The total investment by the biotechnology development finance company in
10any one biotechnology company may not exceed $200,000.
SB45,1110,1211 (d) The findings made by the biotechnology development finance company with
12respect to whether a project meets the conditions under par. (b) 1. to 7. are conclusive.
SB45,1110,21 13(3) The authority shall enter into a contract with the biotechnology
14development finance company. The contract shall provide that the authority may
15make use of the services of the biotechnology development finance company and that
16the authority shall advise, assist and provide administrative services to the
17biotechnology development finance company. The authority shall determine the
18type and scope of any administrative services provided by the authority to the
19biotechnology development finance company. The authority may assign employes or
20contract with private or state agencies to perform the administrative services. The
21biotechnology development finance company may not engage in political activities.
SB45,1110,23 22(4) (a) The board of directors of the biotechnology development finance
23company shall consist of all of the following members:
SB45,1110,2424 1. The executive director of the authority, or his or her designee.
SB45,1110,2525 2. The secretary of commerce, or his or her designee.
SB45,1111,1
13. The secretary of administration, or his or her designee.
SB45,1111,22 4. The executive director of the investment board, or his or her designee.
SB45,1111,33 5. The president of the University of Wisconsin System, or his or her designee.
SB45,1111,44 6. The president of Forward Wisconsin, Inc., or his or her designee.
SB45,1111,55 7. A representative of the state's biotechnology research community.
SB45,1111,66 8. A representative of the state's biotechnology industry.
SB45,1111,77 9. A representative of the state's venture capital industry.
SB45,1111,118 (b) The members under par. (a) 7. to 9. shall serve 5-year terms and the initial
9members under par. (a) 7. to 9. shall be appointed by the governor. The biotechnology
10development finance company, in its bylaws, shall specify the method for electing
11new members under par. (a) 7. to 9. and for filling vacancies.
SB45,1111,14 12(5) Annually, the biotechnology development finance company shall provide a
13report on its activities to the appropriate standing committees of each house of the
14legislature in the manner provided under s. 13.172 (3) and to the governor.
SB45,1111,21 15(6) The assets transferred to, and the assets and liabilities of, the biotechnology
16development finance company shall be separate from all other assets and liabilities
17of the state, of all political subdivisions of the state and of the authority. Neither the
18state, any political subdivision of the state nor the authority guarantees any
19obligation of or has any obligation to the biotechnology development finance
20company. Neither the state, any political subdivision of the state nor the authority
21is liable for any debt or liability of the biotechnology development finance company.
SB45, s. 2377 22Section 2377. 234.65 (3) (f) of the statutes is amended to read:
SB45,1112,523 234.65 (3) (f) The authority has not received a certification under s. 49.855 (7)
24that the person receiving the loan is delinquent in child support or maintenance
25payments or owes past support, medical expenses or birth expenses
name of the

1person receiving the loan does not appear on the statewide support lien docket under
2s. 49.854 (2) (b). The condition under this paragraph is met for a person whose name
3does appear if the person provides to the authority a payment agreement that has
4been approved by the county child support agency under s. 59.53 (5) and that is
5consistent with rules promulgated under s. 49.858 (2) (a)
.
SB45, s. 2378 6Section 2378. 234.65 (3m) of the statutes is amended to read:
SB45,1112,97 234.65 (3m) An economic development loan may not be made unless the
8department of commerce complies with sub. (1m) and certifies that each loan
9complies with sub. (3)
.
SB45, s. 2379 10Section 2379. 234.65 (5) (intro.) of the statutes is amended to read:
SB45,1112,1511 234.65 (5) (intro.) On or before July 1, 1985 2000, and every July 1 thereafter,
12the department of commerce authority shall submit to the chief clerk of each house
13of the legislature, for distribution to the appropriate standing committees under s.
1413.172 (3), a report which shall address the effects of lending under this section in
15the following areas:
SB45, s. 2380 16Section 2380. 234.83 (1) (intro.) of the statutes is amended to read:
SB45,1112,1917 234.83 (1) Guarantee requirements for small businesses. (intro.) The
18authority may use money from the Wisconsin development reserve fund to guarantee
19a loan under this section sub. (4) (a) if all of the following apply:
SB45, s. 2381 20Section 2381. 234.83 (1) (a) of the statutes is amended to read:
SB45,1112,2221 234.83 (1) (a) The borrower qualifies as an eligible borrower under sub. (2) (a)
22or (b)
.
SB45, s. 2382 23Section 2382. 234.83 (1m) of the statutes is created to read:
SB45,1113,3
1234.83 (1m) Guarantee requirements for small businesses affected by
2gaming.
The authority may use money from the Wisconsin development reserve fund
3to guarantee a loan under sub. (4) (am) if all of the following apply:
SB45,1113,44 (a) The borrower qualifies as an eligible borrower under sub. (2) (c).
SB45,1113,55 (b) The loan qualifies as an eligible loan under sub. (3).
SB45,1113,66 (c) The lender enters into an agreement under s. 234.93 (2) (a).
SB45, s. 2383 7Section 2383. 234.83 (2) (a) 3. of the statutes is amended to read:
SB45,1113,158 234.83 (2) (a) 3. The authority has not received a certification under s. 49.855
9(7) that the owner of the business is delinquent in making child support or
10maintenance payments
name of the owner of the business does not appear on the
11statewide support lien docket under s. 49.854 (2) (b). The condition under this
12subdivision is met for an owner whose name does appear if the owner of the business
13provides to the authority a payment agreement that has been approved by the county
14child support agency under s. 59.53 (5) and that is consistent with rules promulgated
15under s. 49.858 (2) (a)
.
SB45, s. 2384 16Section 2384. 234.83 (2) (c) of the statutes is created to read:
SB45,1113,2017 234.83 (2) (c) A business to which the conditions under par. (a) 1., 2. and 3. apply
18and that is located in a county in this state, or in a county in this state that is adjacent
19to a county in this state, in which is located a casino that is operated by a federally
20recognized American Indian tribe or band in this state.
SB45, s. 2385 21Section 2385. 234.83 (4) (am) of the statutes is created to read:
SB45,1114,622 234.83 (4) (am) Subject to par. (b), the authority may guarantee repayment of
23an amount of the principal of any loan eligible for a guarantee under sub. (1m). The
24amount that may be guaranteed may not exceed 100% of the principal of the loan or
25$200,000, whichever is less. The authority shall establish the amount of the

1principal of an eligible loan that will be guaranteed, using the procedures described
2in the agreement under s. 234.93 (2) (a). The authority may establish a single
3amount for all guaranteed loans that do not exceed $200,000 and a single amount for
4all guaranteed loans that exceed $200,000 or establish on an individual basis
5different amounts for eligible loans that do not exceed $200,000 and different
6amounts for eligible loans that exceed $200,000.
SB45, s. 2386 7Section 2386. 234.83 (4) (b) of the statutes is amended to read:
SB45,1114,108 234.83 (4) (b) Except as provided in s. 234.93 (3), the total outstanding
9guaranteed principal amount of all loans that the authority may guarantee under
10par. (a) this section may not exceed $9,900,000 $21,150,000.
SB45, s. 2387 11Section 2387. 234.83 (5) of the statutes is created to read:
SB45,1114,1612 234.83 (5) Interest subsidy for businesses affected by gaming. Annually,
13from the Wisconsin development reserve fund, the authority may pay a financial
14institution that makes a loan to a borrower under sub. (2) (c) that is guaranteed
15under sub. (4) (am) an amount equal to up to 3.5% of the outstanding balance of the
16loan.
SB45, s. 2388 17Section 2388. 234.88 (3) (b) of the statutes is amended to read:
SB45,1114,2018 234.88 (3) (b) Except as provided in s. 234.93 (3), the total outstanding principal
19amount of all guaranteed loans under par. (a) may not exceed $22,500,000
20$11,250,000.
SB45, s. 2389 21Section 2389. 234.90 (2) (b) of the statutes is amended to read:
SB45,1114,2322 234.90 (2) (b) The total outstanding principal amount of all loans to the
23borrower that are guaranteed under this section will not exceed $20,000 $30,000.
SB45, s. 2390 24Section 2390. 234.90 (3) (d) of the statutes is amended to read:
SB45,1115,8
1234.90 (3) (d) The authority has not received a certification under s. 49.855 (7)
2that the farmer is delinquent in making child support or maintenance payments or
3owes past support, medical expenses or birth expenses
farmer's name does not
4appear on the statewide support lien docket under s. 49.854 (2) (b). The condition
5under this paragraph is met for a farmer whose name does appear if the farmer
6provides to the authority a payment agreement that has been approved by the county
7child support agency under s. 59.53 (5) and that is consistent with rules promulgated
8under s. 49.858 (2) (a)
.
SB45, s. 2391 9Section 2391. 234.90 (3g) (c) of the statutes is amended to read:
SB45,1115,1710 234.90 (3g) (c) The authority has not received a certification under s. 49.855
11(7) that the farmer is delinquent in making child support or maintenance payments
12or owes past support, medical expenses or birth expenses
farmer's name does not
13appear on the statewide support lien docket under s. 49.854 (2) (b). The condition
14under this paragraph is met for a farmer whose name does appear if the farmer
15provides to the authority a payment agreement that has been approved by the county
16child support agency under s. 59.53 (5) and that is consistent with rules promulgated
17under s. 49.858 (2) (a)
.
SB45, s. 2392 18Section 2392. 234.905 (3) (d) of the statutes is amended to read:
SB45,1116,219 234.905 (3) (d) The authority has not received a certification under s. 49.855
20(7) that the farmer is delinquent in making child support or maintenance payments
21or owes past support, medical expenses or birth expenses
farmer's name does not
22appear on the statewide support lien docket under s. 49.854 (2) (b). The condition
23under this paragraph is met for a farmer whose name does appear if the farmer
24provides to the authority a payment agreement that has been approved by the county

1child support agency under s. 59.53 (5) and that is consistent with rules promulgated
2under s. 49.858 (2) (a)
.
SB45, s. 2393 3Section 2393. 234.91 (2) (c) of the statutes is amended to read:
SB45,1116,74 234.91 (2) (c) The total outstanding guaranteed principal amount of all loans
5made to the borrower that are guaranteed under this section will not exceed $100,000
6$200,000, or $50,000 $100,000 if any of the loans is affected by any other state or
7federal credit assistance program.
SB45, s. 2394 8Section 2394. 234.93 (1) (cm) of the statutes is created to read:
SB45,1116,119 234.93 (1) (cm) Any moneys transferred under s. 234.51 (2) (b), or under 1999
10Wisconsin Act .... (this act), section 9125 (1 ), from the housing rehabilitation loan
11program administration fund.
SB45, s. 2395 12Section 2395. 234.93 (1) (f) of the statutes is created to read:
SB45,1116,1513 234.93 (1) (f) To be used for guaranteeing loans under s. 234.83 (4) (am) and
14paying interest subsidies under s. 234.83 (5), moneys appropriated to the authority
15under s. 20.490 (5) (kp).
SB45, s. 2396 16Section 2396. 234.93 (4) (a) 2. of the statutes is amended to read:
SB45,1116,2117 234.93 (4) (a) 2. To fund guarantees under all of the programs guaranteed by
18funds from the Wisconsin development reserve fund, except for the program under
19s. 234.935, 1997 stats., at a ratio of $1 of reserve funding to $4.50 of total outstanding
20principal and outstanding guaranteed principal that the authority may guarantee
21under all of those programs.
SB45, s. 2397 22Section 2397. 234.93 (4) (a) 3. of the statutes is amended to read:
SB45,1116,2523 234.93 (4) (a) 3. To fund guarantees under the program under s. 234.935, 1997
24stats.,
at a ratio of $1 of reserve funding to $4 of total principal and outstanding
25guaranteed principal that the authority may guarantee under that program.
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