AB40: Bill Text

AB40,1057,22 234.034 Consistency with state housing strategy plan. Subject to agreements with bondholders or noteholders, the authority shall exercise its powers and perform its duties related to housing consistent with the state housing strategy plan under s. 560.9802 234.5602.

AB40, s. 2822 Section 2822. 234.06 (1) of the statutes is amended to read:

AB40,1058,7 234.06 (1) The authority may, as authorized in the state housing strategy plan under s. 560.9802 234.5602, use the moneys held in the housing development fund to make temporary loans to eligible sponsors, with or without interest, and with such security for repayment, if any, as the authority determines reasonably necessary and practicable, solely from the housing development fund, to defray development costs for the construction of proposed housing projects for occupancy by persons and families of low and moderate income. No temporary loan may be made unless the authority may reasonably anticipate that satisfactory financing may be obtained by the eligible sponsor for the permanent financing of the housing project.

AB40, s. 2823 Section 2823. 234.06 (3) of the statutes is amended to read:

AB40,1058,18 234.06 (3) The authority may, as authorized in the state housing strategy plan under s. 560.9802 234.5602, use the moneys held in the housing development fund to establish and administer programs of grants to counties, municipalities, and eligible sponsors of housing projects for persons of low and moderate income, to pay organizational expenses, administrative costs, social services, technical services, training expenses, or costs incurred or expected to be incurred by counties, municipalities, or sponsors for land and building acquisition, construction, improvements, renewal, rehabilitation, relocation, or conservation under a plan to provide housing or related facilities, if the costs are not reimbursable from other private or public loan, grant, or mortgage sources.

AB40, s. 2824 Section 2824. 234.08 (5) of the statutes is amended to read:

AB40,1058,23 234.08 (5) This section does not supersede or impair the power of the department of commerce Wisconsin Economic Development Corporation to carry out its program responsibilities relating to economic development which are funded by bonds or notes issued under this section.

AB40, s. 2825 Section 2825. 234.08 (6) of the statutes is amended to read:

AB40,1059,4 234.08 (6) The authority may reimburse the department of commerce Wisconsin Economic Development Corporation its operating costs to carry out its program responsibilities relating to economic development which are funded by bonds or notes issued under this section.

AB40, s. 2826 Section 2826. 234.165 (2) (b) 2. of the statutes is amended to read:

AB40,1059,11 234.165 (2) (b) 2. Annually before August 31 the authority shall submit to the governor a plan for expending or encumbering the actual surplus reported under subd. 1. The part of the plan related to housing shall be consistent with the state housing strategy plan under s. 560.9802 234.5602. The plan submitted under this subdivision may be attached to and submitted as a part of the report filed under subd. 1.

AB40, s. 2827 Section 2827. 234.25 (1) (e) of the statutes is amended to read:

AB40,1059,16 234.25 (1) (e) An evaluation of its progress in implementing within its own housing programs the goals, policies, and objectives of the state housing strategy plan under s. 560.9802 234.5602, and recommendations for legislation to improve its ability to carry out its programs consistent with the state housing strategy plan.

AB40, s. 2828 Section 2828. 234.255 (title) of the statutes is amended to read:

AB40,1059,19 234.255 (title) Economic development assistance coordination and reporting.

AB40, s. 2829 Section 2829. 234.255 of the statutes is renumbered 234.255 (2) and amended to read:

AB40,1060,4 234.255 (2) Annually, no later than October 1, the authority shall submit to the joint legislative audit committee and to the appropriate standing committees of the legislature under s. 13.172 (3) a comprehensive report assessing economic development programs, as defined in s. 234.032 (1), administered by the authority. The report shall include all of the information required under s. 560.01 (2) (am) 238.07 (2). The authority shall collaborate with the department of commerce Wisconsin Economic Development Corporation to make readily accessible to the public on an Internet-based system the information required under this section.

AB40, s. 2830 Section 2830. 234.255 (1) of the statutes is created to read:

AB40,1060,7 234.255 (1) The authority shall coordinate any economic development assistance with the Wisconsin Economic Development Corporation.

AB40, s. 2831 Section 2831. 234.35 (1) of the statutes is amended to read:

AB40,1060,12 234.35 (1) In this section, "minority business", "minority financial adviser" and "minority investment firm" mean a business, financial adviser and investment firm, respectively, certified by the department of commerce safety and professional services under s. 560.036 490.04 (2).

AB40, s. 2832 Section 2832. 234.36 (1) of the statutes is amended to read:

AB40,1060,16 234.36 (1) In this section, "business," "financial adviser," and "investment firm" mean a business, financial adviser, and investment firm certified by the department of commerce safety and professional services under s. 560.0335 490.02 (3).

AB40, s. 2833 Section 2833. 234.65 (1) (a) of the statutes is amended to read:

AB40,1060,22 234.65 (1) (a) With the consent of the department of commerce Wisconsin Economic Development Corporation and subject to par. (f), the authority may issue its negotiable bonds and notes to finance its economic development activities authorized or required under this chapter, including financing economic development loans.

AB40, s. 2834 Section 2834. 234.65 (1) (f) of the statutes is amended to read:

AB40,1061,4 234.65 (1) (f) The authority may not issue bonds or notes under par. (a) unless it has contracted to reimburse the department of commerce Wisconsin Economic Development Corporation a sum certain for the department's corporation's operating costs in carrying out its responsibilities to effectuate and promote the economic development programs created with the bonding authority in this chapter and its responsibilities under s. 560.03 (17) 238.25.

AB40, s. 2835 Section 2835. 234.65 (1m) of the statutes is amended to read:

AB40,1061,9 234.65 (1m) The department of commerce Wisconsin Economic Development Corporation shall, in consultation with the authority, promulgate rules and adopt rules and procedures, in accordance with the procedures under ch. 227, to implement sub. (3).

AB40, s. 2836 Section 2836. 234.65 (3) (a) of the statutes is amended to read:

AB40,1061,15 234.65 (3) (a) The business that will receive the loan, at least 30 days prior to signing of the loan contract, has given notice of intent to sign the contract, on a form prescribed under s. 560.034 238.11 (1), to the department of commerce Wisconsin Economic Development Corporation and to any collective bargaining agent in this state with whom the person has a collective bargaining agreement.

AB40, s. 2837 Section 2837. 234.65 (3) (am) of the statutes is amended to read:

AB40,1061,22 234.65 (3) (am) The authority has received an estimate issued under s. 560.034 238.11 (5) (b), and the department of commerce Wisconsin Economic Development Corporation has estimated whether the project that the authority would finance under the loan is expected to eliminate, create, or maintain jobs on the project site and elsewhere in this state and the net number of jobs expected to be eliminated, created, or maintained as a result of the project.

AB40, s. 2838 Section 2838. 234.65 (3m) of the statutes is amended to read:

AB40,1062,3 234.65 (3m) An economic development loan may not be made unless the department of commerce Wisconsin Economic Development Corporation complies with sub. (1m) and certifies that each loan complies with sub. (3).

AB40, s. 2839 Section 2839. 234.65 (3r) of the statutes is amended to read:

AB40,1062,13 234.65 (3r) Any economic development loan which that a business receives from the authority under this section to finance a project shall require the business to submit to the department of commerce Wisconsin Economic Development Corporation within 12 months after the project is completed or 2 years after a loan is issued to finance the project, whichever is sooner, on a form prescribed under s. 560.034 234.11 (1), the net number of jobs eliminated, created, or maintained on the project site and elsewhere in this state as a result of the project. This subsection does not apply to an economic development loan to finance an economic development project described under s. 234.01 (4n) (c).

AB40, s. 2840 Section 2840. 234.65 (5) (intro.) of the statutes is amended to read:

AB40,1062,19 234.65 (5) (intro.) On or before July 1, 1985, and every July 1 thereafter, the department of commerce Wisconsin Economic Development Corporation shall submit to the chief clerk of each house of the legislature, for distribution to the appropriate standing committees under s. 13.172 (3), a report which shall address that addresses the effects of lending under this section in the following areas:

AB40, s. 2841 Section 2841. 234.83 (1c) (b) of the statutes is amended to read:

AB40,1062,22 234.83 (1c) (b) "Small business" means a business, as defined in s. 560.60 (2) 84.185 (1) (a), that employs 50 or fewer employees on a full-time basis.

AB40, s. 2842 Section 2842. 234.84 (1) of the statutes is amended to read:

AB40,1062,25 234.84 (1) Definition. In this section, "department" "corporation" means the department of commerce Wisconsin Economic Development Corporation.

AB40, s. 2843 Section 2843. 234.84 (3) (c) of the statutes is amended to read:

AB40,1063,3 234.84 (3) (c) The interest rate on the loan, including any origination fees or other charges, is approved by the department corporation.

AB40, s. 2844 Section 2844. 234.84 (4) (a) of the statutes is amended to read:

AB40,1063,12 234.84 (4) (a) Subject to par. (b), the authority shall guarantee collection of a percentage of the principal of, and all interest and any other amounts outstanding on, any loan eligible for a guarantee under sub. (2). The department corporation shall establish the percentage of the principal of an eligible loan that will be guaranteed, using the procedures described in the agreement under s. 234.932 (3) (a). The department corporation may establish a single percentage for all guaranteed loans or establish different percentages for eligible loans on an individual basis.

AB40, s. 2845 Section 2845. 234.84 (5) (a) of the statutes is amended to read:

AB40,1063,21 234.84 (5) (a) The program under this section shall be administered by the department corporation with the cooperation of the authority. The department corporation shall enter into a memorandum of understanding with the authority setting forth the respective responsibilities of the department corporation and the authority with regard to the administration of the program, including the functions and responsibilities specified in s. 234.932. The memorandum of understanding shall provide for reimbursement to the department corporation by the authority for costs incurred by the department corporation in the administration of the program.

AB40, s. 2846 Section 2846. 234.84 (5) (b) of the statutes is amended to read:

AB40,1063,25 234.84 (5) (b) The department corporation may charge a premium, fee, or other charge to a borrower of a guaranteed loan under this section for the administration of the loan guarantee.

AB40, s. 2847 Section 2847. 234.932 (1) of the statutes is repealed.

AB40, s. 2848 Section 2848. 234.932 (2) (a) of the statutes is amended to read:

AB40,1064,5 234.932 (2) (a) Moneys appropriated to the authority under s. 20.490 (6) (a) and (k) or received by the authority for the Wisconsin job training reserve fund from any other source.

AB40, s. 2849 Section 2849. 234.932 (3) (a) (intro.) of the statutes is amended to read:

AB40,1064,12 234.932 (3) (a) (intro.) The authority or department shall enter into a guarantee agreement with any bank, production credit association, credit union, savings bank, savings and loan association, or other person who wishes to participate in the loan program guaranteed by the Wisconsin job training reserve fund. The authority or department may determine all of the following, consistent with the terms of the loan guarantee program:

AB40, s. 2850 Section 2850. 234.932 (3) (a) 2. of the statutes is amended to read:

AB40,1064,15 234.932 (3) (a) 2. Any conditions upon which the authority or department may refuse to enter into such an agreement.

AB40, s. 2851 Section 2851. 234.932 (3) (c) of the statutes is amended to read:

AB40,1064,21 234.932 (3) (c) The department Wisconsin Economic Development Corporation may establish an eligibility criteria review panel, consisting of experts in finance and in the subject area of the job training loan guarantee program, to provide advice about lending requirements and issues related to the job training loan guarantee program.

AB40, s. 2852 Section 2852. 234.932 (4) of the statutes is amended to read:

AB40,1065,8 234.932 (4) Increases or decreases in loan guarantees. The authority or department may request the joint committee on finance to take action under s. 13.10 to permit the authority to increase or decrease the total outstanding guaranteed principal amount of loans that it may guarantee under the job training loan guarantee program. Included with its request, the authority or department shall provide a projection, for the next June 30, that compares the amounts required on that date to pay outstanding claims and to fund guarantees under the job training loan guarantee program, and the balance remaining in the Wisconsin job training reserve fund on that date after deducting such amounts, if the increase or decrease is approved, with such amounts and the balance remaining, if the increase or decrease is not approved.

AB40, s. 2853 Section 2853. 234.932 (5) of the statutes is amended to read:

AB40,1065,13 234.932 (5) Annual report. Annually, the authority or department shall report on the number and total dollar amount of guaranteed loans under the job training loan guarantee program, the default rate on the loans and any other information on the program that the authority or department determines is significant.

AB40, s. 2854 Section 2854. 235.02 (2) (d) of the statutes is amended to read:

AB40,1065,16 235.02 (2) (d) The secretary of commerce, or the secretary's chief executive officer of the Wisconsin Economic Development Corporation, or his or her designee.

AB40, s. 2855 Section 2855. 236.12 (2) (a) of the statutes is amended to read:

AB40,1066,5 236.12 (2) (a) Two copies for each of the state agencies required to review the plat to the department which shall examine the plat for compliance with ss. 236.15, 236.16, 236.20 and 236.21 (1) and (2). If the subdivision abuts or adjoins a state trunk highway or connecting highway, the department shall transmit 2 copies to the department of transportation so that agency may determine whether it has any objection to the plat on the basis of its rules as provided in s. 236.13. If the subdivision is not served by a public sewer and provision for that service has not been made, the department shall transmit 2 copies to the department of commerce safety and professional services so that that agency may determine whether it has any objection to the plat on the basis of its rules as provided in s. 236.13. In lieu of this procedure the agencies may designate local officials to act as their agents in examining the plats for compliance with the statutes or their rules by filing a written delegation of authority with the approving body.

AB40, s. 2856 Section 2856. 236.13 (1) (d) of the statutes is amended to read:

AB40,1066,10 236.13 (1) (d) The rules of the department of commerce safety and professional services relating to lot size and lot elevation necessary for proper sanitary conditions in a subdivision not served by a public sewer, where provision for public sewer service has not been made;

AB40, s. 2857 Section 2857. 236.13 (2m) of the statutes is amended to read:

AB40,1066,25 236.13 (2m) As a further condition of approval when lands included in the plat lie within 500 feet of the ordinary high-water mark of any navigable stream, lake or other body of navigable water or if land in the proposed plat involves lake or stream shorelands referred to in s. 236.16, the department of natural resources, to prevent pollution of navigable waters, or the department of commerce safety and professional services, to protect the public health and safety, may require assurance of adequate drainage areas for private sewage disposal systems and building setback restrictions, or provisions by the owner for public sewage disposal facilities for waters of the state, as defined in s. 281.01 (18), industrial wastes, as defined in s. 281.01 (5), and other wastes, as defined in s. 281.01 (7). The public sewage disposal facilities may consist of one or more systems as the department of natural resources or the department of commerce safety and professional services determines on the basis of need for prevention of pollution of the waters of the state or protection of public health and safety.

AB40, s. 2858 Section 2858. 236.335 of the statutes is amended to read:

AB40,1067,9 236.335 Prohibited subdividing; forfeit. No lot or parcel in a recorded plat may be divided, or used if so divided, for purposes of sale or building development if the resulting lots or parcels do not conform to this chapter, to any applicable ordinance of the approving authority or to the rules of the department of commerce safety and professional services under s. 236.13. Any person making or causing such a division to be made shall forfeit not less than $100 nor more than $500 to the approving authority, or to the state if there is a violation of this chapter or the rules of the department of commerce safety and professional services.

AB40, s. 2859 Section 2859. Subchapter I (title) of chapter 238 [precedes 238.01] of the statutes is created to read:

AB40,1067,12 chapter 238

AB40,1067,14 subchapter I general provisions

AB40, s. 2860 Section 2860. 238.08 of the statutes is created to read:

AB40,1067,20 238.08 Records of the corporation. All records of the corporation are open to the public as provided in s. 19.35 (1) except those records relating to pending grants, loans, or economic development projects that, in the opinion of the corporation, must remain confidential to protect the competitive nature of the grant, loan, or project.

AB40, s. 2861 Section 2861. 238.135 of the statutes is created to read:

AB40,1068,2 238.135 Grants to regional economic development organizations. The corporation shall award annual grants to regional economic development organizations to fund marketing activities. The amount of each grant may not exceed $100,000 or the amount of matching funds the organization obtains from sources other than the corporation or the state, whichever is less.

AB40, s. 2862 Section 2862. 238.145 of the statutes is created to read:

AB40,1068,7 238.145 Wisconsin-source assets exclusion; business certification. (1) The corporation shall implement a program to certify businesses for purposes of s. 71.05 (25). A business shall submit an application to the corporation in each calendar year for which the business desires certification.

AB40,1068,10 (2) The corporation may certify a business if, in the business's taxable year ending immediately before the date of the business's application, all of the following are true:

AB40,1068,13 (a) The amount of payroll compensation paid by the business in this state, as determined by the corporation, is equal to at least 50 percent of the amount of all payroll compensation paid by the business, as determined by the corporation.

AB40,1068,17 (b) The value of real and tangible personal property owned or rented and used by the business in this state, as determined by the corporation, is equal to at least 50 percent of the value of all real and tangible personal property owned or rented and used by the business, as determined by the corporation.

AB40,1068,20 (3) The corporation shall notify the department of revenue of every certification issued under this section and of the date on which a certification is revoked or expires.

AB40,1068,22 (4) The corporation, in consultation with the department of revenue, may adopt rules for the administration of this section.

AB40,1068,25 (5) The corporation shall compile a list of businesses certified under this section and the taxable years for which the businesses are certified and shall make the list available to the public at the corporation's Internet Web site.