SB27-SSA1,1190,623
234.06
(1) The authority may, as authorized in the state housing strategy plan
24under s.
560.9802 16.302, use the moneys held in the housing development fund to
25make temporary loans to eligible sponsors, with or without interest, and with such
1security for repayment, if any, as the authority determines reasonably necessary and
2practicable, solely from the housing development fund, to defray development costs
3for the construction of proposed housing projects for occupancy by persons and
4families of low and moderate income. No temporary loan may be made unless the
5authority may reasonably anticipate that satisfactory financing may be obtained by
6the eligible sponsor for the permanent financing of the housing project.
SB27-SSA1,1190,178
234.06
(3) The authority may, as authorized in the state housing strategy plan
9under s.
560.9802 16.302, use the moneys held in the housing development fund to
10establish and administer programs of grants to counties, municipalities
, and eligible
11sponsors of housing projects for persons of low and moderate income, to pay
12organizational expenses, administrative costs, social services, technical services,
13training expenses
, or costs incurred or expected to be incurred by counties,
14municipalities
, or sponsors for land and building acquisition, construction,
15improvements, renewal, rehabilitation, relocation
, or conservation under a plan to
16provide housing or related facilities, if the costs are not reimbursable from other
17private or public loan, grant
, or mortgage sources.
SB27-SSA1,1190,2219
234.08
(5) This section does not supersede or impair the power of the
20department of commerce Wisconsin Economic Development Corporation to carry out
21its program responsibilities relating to economic development which are funded by
22bonds or notes issued under this section.
SB27-SSA1,1191,224
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.
SB27-SSA1,1191,94
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.
SB27-SSA1,1191,1411
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.
SB27-SSA1,1191,17
16234.255 (title)
Economic development assistance coordination and
17reporting.
SB27-SSA1, s. 1757
18Section
1757. 234.255 of the statutes is renumbered 234.255 (2) and amended
19to read:
SB27-SSA1,1192,2
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.
SB27-SSA1,1192,54
234.255
(1) The authority shall coordinate any economic development
5assistance with the Wisconsin Economic Development Corporation.
SB27-SSA1,1192,107
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).
SB27-SSA1,1192,1412
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).
SB27-SSA1, s. 2832g
15Section 2832g. 234.622 (4) of the statutes is renumbered 234.622 (4) (intro.)
16and amended to read:
SB27-SSA1,1192,1717
234.622
(4) (intro.) "Participant" means
a all of the following:
SB27-SSA1,1192,19
18(a) A natural person 65 years of age or older who has been accepted into the
19program.
SB27-SSA1,1192,2221
234.622
(4) (b) A veteran, as defined in s. 45.01 (12) (a) to (f), who has been
22accepted into the program.
SB27-SSA1,1193,324
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.
SB27-SSA1,1193,105
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.
SB27-SSA1,1193,1512
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).
SB27-SSA1,1193,2117
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.
SB27-SSA1,1194,323
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.
SB27-SSA1,1194,75
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).
SB27-SSA1,1194,179
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).
SB27-SSA1, s. 1768
18Section
1768. 234.65 (5) (intro.) of the statutes is amended to read:
SB27-SSA1,1194,2319
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:
SB27-SSA1,1195,6
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.
SB27-SSA1,1195,9
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:
SB27-SSA1,1195,1110
(a) The borrower applies for a loan guarantee on a form provided by the
11authority.
SB27-SSA1,1195,1312
(b) The loan is eligible for a guarantee under sub. (3), and any applicable
13requirements under sub. (5) are met.
SB27-SSA1,1195,1514
(c) The lender is the authority or a financial institution that enters into an
15agreement under s. 234.93 (2) (a).
SB27-SSA1,1195,17
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:
SB27-SSA1,1195,1818
(a) The loan principal equals $5,000,000 or less.
SB27-SSA1,1195,1919
(b) The authority determines that the borrower is a public affairs network.
SB27-SSA1,1195,2120
(c) The borrower certifies that loan proceeds will be used for the borrower's
21operating expenses or expenses related to a capital project.
SB27-SSA1,1195,2322
(d) The borrower certifies that loan proceeds will not be used to refinance
23existing debt or for entertainment expenses.
SB27-SSA1,1196,3
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.
SB27-SSA1,1196,54
(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.
SB27-SSA1,1196,9
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.
SB27-SSA1,1196,14
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).
SB27-SSA1,1196,1515
(b) A loan guarantee under this subsection is subject to all of the following:
SB27-SSA1,1196,1716
1. The authority shall guarantee at least 90 percent of the unpaid principal of
17an eligible loan.
SB27-SSA1,1196,1918
2. The total principal amount of all loans guaranteed under this subsection may
19not exceed $5,000,000.
SB27-SSA1,1196,2420
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.
SB27-SSA1,1197,4
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:
SB27-SSA1,1197,65
1. The authority determines that the transfer is necessary to secure the loan
6guarantee.
SB27-SSA1,1197,77
2. The transfer of moneys does not exceed $5,000,000.
SB27-SSA1,1197,108
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.
SB27-SSA1,1197,1312
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.
SB27-SSA1,1197,1615
234.84
(1) Definition. In this section,
"department" "corporation" means the
16department of commerce Wisconsin Economic Development Corporation.
SB27-SSA1,1197,1918
234.84
(3) (c) The interest rate on the loan, including any origination fees or
19other charges, is approved by the
department corporation.
SB27-SSA1,1198,321
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.
SB27-SSA1,1198,125
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.
SB27-SSA1,1198,1614
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.
SB27-SSA1,1198,2018
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.
SB27-SSA1,1199,222
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.
SB27-SSA1,1199,74
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.
SB27-SSA1,1199,1210
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.
SB27-SSA1, s. 1777
13Section
1777. 234.932 (3) (a) (intro.) of the statutes is amended to read:
SB27-SSA1,1199,1914
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: