AB40-ASA1,1161,224 234.08 (6) The authority may reimburse the department of commerce
25Wisconsin Economic Development Corporation its operating costs to carry out its

1program responsibilities relating to economic development which are funded by
2bonds or notes issued under this section.
AB40-ASA1, s. 2826 3Section 2826. 234.165 (2) (b) 2. of the statutes is amended to read:
AB40-ASA1,1161,94 234.165 (2) (b) 2. Annually before August 31 the authority shall submit to the
5governor a plan for expending or encumbering the actual surplus reported under
6subd. 1. The part of the plan related to housing shall be consistent with the state
7housing strategy plan under s. 560.9802 16.302. The plan submitted under this
8subdivision may be attached to and submitted as a part of the report filed under subd.
91.
AB40-ASA1, s. 2827 10Section 2827. 234.25 (1) (e) of the statutes is amended to read:
AB40-ASA1,1161,1411 234.25 (1) (e) An evaluation of its progress in implementing within its own
12housing programs the goals, policies, and objectives of the state housing strategy
13plan under s. 560.9802 16.302, and recommendations for legislation to improve its
14ability to carry out its programs consistent with the state housing strategy plan.
AB40-ASA1, s. 2828 15Section 2828. 234.255 (title) of the statutes is amended to read:
AB40-ASA1,1161,17 16234.255 (title) Economic development assistance coordination and
17reporting.
AB40-ASA1, s. 2829 18Section 2829. 234.255 of the statutes is renumbered 234.255 (2) and amended
19to read:
AB40-ASA1,1162,2 20234.255 (2) Annually, no later than October 1, the authority shall submit to the
21joint legislative audit committee and to the appropriate standing committees of the
22legislature under s. 13.172 (3) a comprehensive report assessing economic
23development programs, as defined in s. 234.032 (1), administered by the authority.
24The report shall include all of the information required under s. 560.01 (2) (am)
25238.07 (2). The authority shall collaborate with the department of commerce

1Wisconsin Economic Development Corporation to make readily accessible to the
2public on an Internet-based system the information required under this section.
AB40-ASA1, s. 2830 3Section 2830. 234.255 (1) of the statutes is created to read:
AB40-ASA1,1162,54 234.255 (1) The authority shall coordinate any economic development
5assistance with the Wisconsin Economic Development Corporation.
AB40-ASA1, s. 2831 6Section 2831. 234.35 (1) of the statutes is amended to read:
AB40-ASA1,1162,107 234.35 (1) In this section, "minority business", "minority financial adviser" and
8"minority investment firm" mean a business, financial adviser and investment firm,
9respectively, certified by the department of commerce administration under s.
10560.036 16.287 (2).
AB40-ASA1, s. 2832 11Section 2832. 234.36 (1) of the statutes is amended to read:
AB40-ASA1,1162,1412 234.36 (1) In this section, "business," "financial adviser," and "investment firm"
13mean a business, financial adviser, and investment firm certified by the department
14of commerce administration under s. 560.0335 16.283 (3).
AB40-ASA1, s. 2832g 15Section 2832g. 234.622 (4) of the statutes is renumbered 234.622 (4) (intro.)
16and amended to read:
AB40-ASA1,1162,1717 234.622 (4) (intro.) "Participant" means a all of the following:
AB40-ASA1,1162,19 18(a) A natural person 65 years of age or older who has been accepted into the
19program.
AB40-ASA1, s. 2832r 20Section 2832r. 234.622 (4) (b) of the statutes is created to read:
AB40-ASA1,1162,2221 234.622 (4) (b) A veteran, as defined in s. 45.01 (12) (a) to (f), who has been
22accepted into the program.
AB40-ASA1, s. 2833 23Section 2833. 234.65 (1) (a) of the statutes is amended to read:
AB40-ASA1,1163,324 234.65 (1) (a) With the consent of the department of commerce Wisconsin
25Economic Development Corporation
and subject to par. (f), the authority may issue

1its negotiable bonds and notes to finance its economic development activities
2authorized or required under this chapter, including financing economic
3development loans.
AB40-ASA1, s. 2834 4Section 2834. 234.65 (1) (f) of the statutes is amended to read:
AB40-ASA1,1163,105 234.65 (1) (f) The authority may not issue bonds or notes under par. (a) unless
6it has contracted to reimburse the department of commerce Wisconsin Economic
7Development Corporation
a sum certain for the department's corporation's operating
8costs in carrying out its responsibilities to effectuate and promote the economic
9development programs created with the bonding authority in this chapter and its
10responsibilities under s. 560.03 (17) 238.25.
AB40-ASA1, s. 2835 11Section 2835. 234.65 (1m) of the statutes is amended to read:
AB40-ASA1,1163,1512 234.65 (1m) The department of commerce Wisconsin Economic Development
13Corporation
shall, in consultation with the authority, promulgate rules and adopt
14rules and procedures, in accordance with the procedures under ch. 227, to implement
15sub. (3).
AB40-ASA1, s. 2836 16Section 2836. 234.65 (3) (a) of the statutes is amended to read:
AB40-ASA1,1163,2117 234.65 (3) (a) The business that will receive the loan, at least 30 days prior to
18signing of the loan contract, has given notice of intent to sign the contract, on a form
19prescribed under s. 560.034 238.11 (1), to the department of commerce Wisconsin
20Economic Development Corporation
and to any collective bargaining agent in this
21state with whom the person has a collective bargaining agreement.
AB40-ASA1, s. 2837 22Section 2837. 234.65 (3) (am) of the statutes is amended to read:
AB40-ASA1,1164,323 234.65 (3) (am) The authority has received an estimate issued under s. 560.034
24238.11 (5) (b), and the department of commerce Wisconsin Economic Development
25Corporation
has estimated whether the project that the authority would finance

1under the loan is expected to eliminate, create, or maintain jobs on the project site
2and elsewhere in this state and the net number of jobs expected to be eliminated,
3created, or maintained as a result of the project.
AB40-ASA1, s. 2838 4Section 2838. 234.65 (3m) of the statutes is amended to read:
AB40-ASA1,1164,75 234.65 (3m) An economic development loan may not be made unless the
6department of commerce Wisconsin Economic Development Corporation complies
7with sub. (1m) and certifies that each loan complies with sub. (3).
AB40-ASA1, s. 2839 8Section 2839. 234.65 (3r) of the statutes is amended to read:
AB40-ASA1,1164,179 234.65 (3r) Any economic development loan which that a business receives
10from the authority under this section to finance a project shall require the business
11to submit to the department of commerce Wisconsin Economic Development
12Corporation
within 12 months after the project is completed or 2 years after a loan
13is issued to finance the project, whichever is sooner, on a form prescribed under s.
14560.034 234.11 (1), the net number of jobs eliminated, created, or maintained on the
15project site and elsewhere in this state as a result of the project. This subsection does
16not apply to an economic development loan to finance an economic development
17project described under s. 234.01 (4n) (c).
AB40-ASA1, s. 2840 18Section 2840. 234.65 (5) (intro.) of the statutes is amended to read:
AB40-ASA1,1164,2319 234.65 (5) (intro.) On or before July 1, 1985, and every July 1 thereafter, the
20department of commerce Wisconsin Economic Development Corporation shall
21submit to the chief clerk of each house of the legislature, for distribution to the
22appropriate standing committees under s. 13.172 (3), a report which shall address
23that addresses the effects of lending under this section in the following areas:
AB40-ASA1, s. 2840m 24Section 2840m. 234.75 of the statutes is created to read:
AB40-ASA1,1165,6
1234.75 Public affairs network loan guarantee program. (1) Definition.
2In this section, "public affairs network" means a nonprofit corporation organized
3under the laws of this state that has as its primary purpose the broadcast of
4proceedings of the legislature, including legislative committee meetings, and the
5reporting of events and activities related to politics in this state, through television,
6radio, the Internet, or similar communications media.
AB40-ASA1,1165,9 7(2) Guarantee requirements. The authority may use money from the
8Wisconsin development reserve fund to guarantee the unpaid principal of a loan
9under sub. (5) if all of the following apply:
AB40-ASA1,1165,1110 (a) The borrower applies for a loan guarantee on a form provided by the
11authority.
AB40-ASA1,1165,1312 (b) The loan is eligible for a guarantee under sub. (3), and any applicable
13requirements under sub. (5) are met.
AB40-ASA1,1165,1514 (c) The lender is the authority or a financial institution that enters into an
15agreement under s. 234.93 (2) (a).
AB40-ASA1,1165,17 16(3) Eligible loans. A loan is eligible for guarantee of collection under sub. (5)
17from the Wisconsin development reserve fund if all of the following apply:
AB40-ASA1,1165,1818 (a) The loan principal equals $5,000,000 or less.
AB40-ASA1,1165,1919 (b) The authority determines that the borrower is a public affairs network.
AB40-ASA1,1165,2120 (c) The borrower certifies that loan proceeds will be used for the borrower's
21operating expenses or expenses related to a capital project.
AB40-ASA1,1165,2322 (d) The borrower certifies that loan proceeds will not be used to refinance
23existing debt or for entertainment expenses.
AB40-ASA1,1166,3
1(e) The loan term is not less that 13 years, and the borrower is not required to
2to pay any principal or interest on the loan within the first 3 years after the loan is
3made.
AB40-ASA1,1166,54 (f) The terms of the loan authorize the lender to obtain a security interest in
5the real or personal property of the borrower to secure repayment of the loan.
AB40-ASA1,1166,9 6(4) Authority loan. The authority may make a loan to a public affairs network
7if the loan meets the eligibility requirements under sub. (3), except that the total
8principal amount of all loans that the authority makes under this subsection may not
9exceed $5,000,000.
AB40-ASA1,1166,14 10(5) Guarantee of repayment. (a) Subject to par. (b), the authority shall
11guarantee collection of all or part of the unpaid principal of a loan eligible for
12guarantee under sub. (3). The authority shall establish the amount of the unpaid
13principal of an eligible loan that will be guaranteed using the procedures described
14in the guarantee agreement under s. 234.93 (2) (a).
AB40-ASA1,1166,1515 (b) A loan guarantee under this subsection is subject to all of the following:
AB40-ASA1,1166,1716 1. The authority shall guarantee at least 90 percent of the unpaid principal of
17an eligible loan.
AB40-ASA1,1166,1918 2. The total principal amount of all loans guaranteed under this subsection may
19not exceed $5,000,000.
AB40-ASA1,1166,2420 3. Before the authority guarantees a loan under this subsection, the authority
21shall demonstrate to the satisfaction of the secretary of administration that there are
22sufficient moneys in the Wisconsin development reserve fund to guarantee the loan,
23or that there are sufficient moneys in the housing rehabilitation loan program
24administration fund that may be transferred under par. (c) to guarantee the loan.
AB40-ASA1,1167,4
1(c) Notwithstanding s. 234.51 (2), the authority may transfer moneys from the
2housing rehabilitation loan program administration fund to the Wisconsin
3development reserve fund for a loan guarantee under this subsection if all of the
4following conditions are met:
AB40-ASA1,1167,65 1. The authority determines that the transfer is necessary to secure the loan
6guarantee.
AB40-ASA1,1167,77 2. The transfer of moneys does not exceed $5,000,000.
AB40-ASA1,1167,108 3. Within 14 days after the transfer, the authority submits a report to the joint
9committee on finance that includes the amount of the transfer and a description of
10the circumstances surrounding the transfer.
AB40-ASA1, s. 2841 11Section 2841. 234.83 (1c) (b) of the statutes is amended to read:
AB40-ASA1,1167,1312 234.83 (1c) (b) "Small business" means a business, as defined in s. 560.60 (2)
1384.185 (1) (a), that employs 50 or fewer employees on a full-time basis.
AB40-ASA1, s. 2842 14Section 2842. 234.84 (1) of the statutes is amended to read:
AB40-ASA1,1167,1615 234.84 (1) Definition. In this section, "department" "corporation" means the
16department of commerce Wisconsin Economic Development Corporation.
AB40-ASA1, s. 2843 17Section 2843. 234.84 (3) (c) of the statutes is amended to read:
AB40-ASA1,1167,1918 234.84 (3) (c) The interest rate on the loan, including any origination fees or
19other charges, is approved by the department corporation.
AB40-ASA1, s. 2844 20Section 2844. 234.84 (4) (a) of the statutes is amended to read:
AB40-ASA1,1168,321 234.84 (4) (a) Subject to par. (b), the authority shall guarantee collection of a
22percentage of the principal of, and all interest and any other amounts outstanding
23on, any loan eligible for a guarantee under sub. (2). The department corporation
24shall establish the percentage of the principal of an eligible loan that will be
25guaranteed, using the procedures described in the agreement under s. 234.932 (3)

1(a). The department corporation may establish a single percentage for all
2guaranteed loans or establish different percentages for eligible loans on an
3individual basis.
AB40-ASA1, s. 2845 4Section 2845. 234.84 (5) (a) of the statutes is amended to read:
AB40-ASA1,1168,125 234.84 (5) (a) The program under this section shall be administered by the
6department corporation with the cooperation of the authority. The department
7corporation shall enter into a memorandum of understanding with the authority
8setting forth the respective responsibilities of the department corporation and the
9authority with regard to the administration of the program, including the functions
10and responsibilities specified in s. 234.932. The memorandum of understanding
11shall provide for reimbursement to the department corporation by the authority for
12costs incurred by the department corporation in the administration of the program.
AB40-ASA1, s. 2846 13Section 2846. 234.84 (5) (b) of the statutes is amended to read:
AB40-ASA1,1168,1614 234.84 (5) (b) The department corporation may charge a premium, fee, or other
15charge to a borrower of a guaranteed loan under this section for the administration
16of the loan guarantee.
AB40-ASA1, s. 2846c 17Section 2846c. 234.93 (1) (cm) of the statutes is amended to read:
AB40-ASA1,1168,2018 234.93 (1) (cm) Any moneys transferred under 1999 Wisconsin Act 9, section
199125 (1), or under s. 234.75 (5) (c), from the housing rehabilitation loan program
20administration fund.
AB40-ASA1, s. 2846g 21Section 2846g. 234.93 (4) (a) 2. of the statutes is amended to read:
AB40-ASA1,1169,222 234.93 (4) (a) 2. To fund guarantees under all of the programs guaranteed by
23funds from the Wisconsin development reserve fund, except for the program under
24s. 234.935, 1997 stats., and the program under s. 234.75, at a ratio of $1 of reserve

1funding to $4.50 of total outstanding principal and outstanding guaranteed principal
2that the authority may guarantee under all of those programs.
AB40-ASA1, s. 2646r 3Section 2646r. 234.93 (4) (a) 3. of the statutes is amended to read:
AB40-ASA1,1169,74 234.93 (4) (a) 3. To fund guarantees under the program under s. 234.935, 1997
5stats., and the program under s. 234.75 at a ratio of $1 of reserve funding to $4 of total
6principal and outstanding guaranteed principal that the authority may guarantee
7under that program.
AB40-ASA1, s. 2847 8Section 2847. 234.932 (1) of the statutes is repealed.
AB40-ASA1, s. 2848 9Section 2848. 234.932 (2) (a) of the statutes is amended to read:
AB40-ASA1,1169,1210 234.932 (2) (a) Moneys appropriated to the authority under s. 20.490 (6) (a) and
11(k) or
received by the authority for the Wisconsin job training reserve fund from any
12other source.
AB40-ASA1, s. 2849 13Section 2849. 234.932 (3) (a) (intro.) of the statutes is amended to read:
AB40-ASA1,1169,1914 234.932 (3) (a) (intro.) The authority or department shall enter into a
15guarantee agreement with any bank, production credit association, credit union,
16savings bank, savings and loan association, or other person who wishes to participate
17in the loan program guaranteed by the Wisconsin job training reserve fund. The
18authority or department may determine all of the following, consistent with the
19terms of the loan guarantee program:
AB40-ASA1, s. 2850 20Section 2850. 234.932 (3) (a) 2. of the statutes is amended to read:
AB40-ASA1,1169,2221 234.932 (3) (a) 2. Any conditions upon which the authority or department may
22refuse to enter into such an agreement.
AB40-ASA1, s. 2851 23Section 2851. 234.932 (3) (c) of the statutes is amended to read:
AB40-ASA1,1170,324 234.932 (3) (c) The department Wisconsin Economic Development Corporation
25may establish an eligibility criteria review panel, consisting of experts in finance and

1in the subject area of the job training loan guarantee program, to provide advice
2about lending requirements and issues related to the job training loan guarantee
3program.
AB40-ASA1, s. 2852 4Section 2852. 234.932 (4) of the statutes is amended to read:
AB40-ASA1,1170,155 234.932 (4) Increases or decreases in loan guarantees. The authority or
6department
may request the joint committee on finance to take action under s. 13.10
7to permit the authority to increase or decrease the total outstanding guaranteed
8principal amount of loans that it may guarantee under the job training loan
9guarantee program. Included with its request, the authority or department shall
10provide a projection, for the next June 30, that compares the amounts required on
11that date to pay outstanding claims and to fund guarantees under the job training
12loan guarantee program, and the balance remaining in the Wisconsin job training
13reserve fund on that date after deducting such amounts, if the increase or decrease
14is approved, with such amounts and the balance remaining, if the increase or
15decrease is not approved.
AB40-ASA1, s. 2853 16Section 2853. 234.932 (5) of the statutes is amended to read:
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