SB21,1418,3
1231.29 (1) In this section, "business," "financial adviser," and "investment firm"
2mean a business, financial adviser, and investment firm certified by the department
3of administration
under s. 16.283 203.03 (3).
SB21,3802 4Section 3802. 232.05 (3) of the statutes is amended to read:
SB21,1418,55 232.05 (3) The corporation may not:
SB21,1418,76 (a) Sell, exchange, or otherwise divest itself of the Bradley center to a sports
7and entertainment district under subch. VI of ch. 229
.
SB21,1418,108 (b) Dissolve and wind up its affairs, unless the legislature enacts a law ordering
9dissolution or except as provided in s. 232.07
upon the sale, exchange, or other
10divestiture of the Bradley center
.
SB21,3803 11Section 3803. 233.01 (3) of the statutes is amended to read:
SB21,1418,1312 233.01 (3) "Board of regents" means the board of regents of the University of
13Wisconsin System Authority.
SB21,3804 14Section 3804. 233.04 (7) (e) of the statutes is amended to read:
SB21,1418,1815 233.04 (7) (e) Any provision necessary to ensure that the general management
16and operation of the on-campus facilities are consistent with the mission of the
17University of Wisconsin System
and responsibilities of the University of Wisconsin
18System Authority specified in ss. 36.01 and 36.09 36.11.
SB21,3805 19Section 3805. 233.10 (3) (c) 4. of the statutes is amended to read:
SB21,1419,220 233.10 (3) (c) 4. Grant to the carry-over employee military leave, treatment of
21military leave, jury service leave and voting leave in accordance with s. 230.35 (3)
22and (4) (e) and, to the extent applicable, rules of the office division of state
23employment relations
personnel management in the department of administration
24governing such leaves for employees in the classified service as of the last day of the

1employee's employment as a state employee if the employee was entitled to those
2benefits on that day.
SB21,3806 3Section 3806. 233.10 (3r) (b) 1. of the statutes is amended to read:
SB21,1419,74 233.10 (3r) (b) 1. Enter into an employment contract for such period with the
5carry-over employee. For such period, the contract shall provide the carry-over
6employee with the same procedural guarantees provided to persons having academic
7staff appointments under s. 36.15, 2013 stats., on June 29, 1996.
SB21,3807 8Section 3807. 233.10 (3r) (b) 3. of the statutes is amended to read:
SB21,1419,159 233.10 (3r) (b) 3. Grant to the carry-over employee, except when he or she is
10on an unpaid leave of absence, a paid holiday on each of the days specified as a
11holiday in policies and procedures established by the board of regents under s. 36.15
12(2), 2013 stats., as of the last day of the employee's employment as a state employee
13and any holiday compensatory time off that may be specified in policies and
14procedures established by the board of regents under s. 36.15 (2), 2013 stats., as of
15the last day of the employee's employment in the academic staff appointment.
SB21,3808 16Section 3808. 233.10 (3r) (b) 5. of the statutes is amended to read:
SB21,1419,2017 233.10 (3r) (b) 5. Grant to the carry-over employee military leave, treatment
18of military leave, jury service leave and voting leave in accordance with policies and
19procedures established by the board of regents under s. 36.15 (2), 2013 stats., and,
20as of the last day of the employee's employment in the academic staff appointment.
SB21,3809 21Section 3809. 233.10 (3r) (b) 6. of the statutes is amended to read:
SB21,1419,2522 233.10 (3r) (b) 6. Grant to the carry-over employee the same opportunity for
23any employee training that may be provided under policies and procedures
24established by the board of regents under s. 36.15 (2), 2013 stats., as of the last day
25of his or her employment in the academic staff appointment.
SB21,3810
1Section 3810. 233.10 (4) of the statutes is amended to read:
SB21,1420,82 233.10 (4) Notwithstanding the requirement that an employee be a state
3employee, a carry-over employee of the authority who was employed in a position in
4the classified service immediately prior to beginning employment with the authority
5shall, from June 29, 1996, to June 30, 1997, have the same transfer rights under s.
6230.29 and the rules of the office division of state employment relations personnel
7management in the department of administration
governing transfers as a person
8who holds a position in the classified service.
SB21,3811 9Section 3811. Chapter 234 (title) of the statutes is repealed.
SB21,3812 10Section 3812. Subchapter I (title) of chapter 234 [precedes 234.01] of the
11statutes is renumbered subchapter IV (title) of chapter 235 [precedes 235.40] and
12amended to read:
SB21,1420,1313 CHAPTER 235
SB21,1420,1414 SUBCHAPTER IV
SB21,1420,16 15GENERAL PROVISIONS; HOUSING AND
16ECONOMIC DEVELOPMENT PROGRAMS
SB21,3813 17Section 3813. 234.01 (intro.) of the statutes is renumbered 235.40 (intro.) and
18amended to read:
SB21,1420,19 19235.40 Definitions. (intro.) In this chapter subchapter:
SB21,3814 20Section 3814. 234.01 (1) of the statutes is repealed.
SB21,3815 21Section 3815. 234.01 (2) of the statutes is repealed.
SB21,3816 22Section 3816. 234.01 (3) of the statutes is repealed.
SB21,3817 23Section 3817. 234.01 (3m) of the statutes is renumbered 235.40 (3m) and
24amended to read:
SB21,1421,3
1235.40 (3m) "Collateral" means a 3rd-party note, mortgage, guaranty,
2insurance policy, bond, letter of credit, security agreement, or other instrument
3securing the repayment of an economic development loan or a mortgage loan.
SB21,3818 4Section 3818. 234.01 (4) of the statutes is renumbered 235.40 (4).
SB21,3819 5Section 3819. 234.01 (4m) of the statutes is repealed.
SB21,3820 6Section 3820. 234.01 (4n) of the statutes is repealed.
SB21,3821 7Section 3821. 234.01 (5) of the statutes is renumbered 235.40 (5).
SB21,3822 8Section 3822. 234.01 (5k) of the statutes is renumbered 235.40 (5k).
SB21,3823 9Section 3823. 234.01 (5m) of the statutes is renumbered 235.40 (5m) and
10amended to read:
SB21,1421,1211 235.40 (5m) "Homeownership mortgage loan" has the meaning given under s.
12234.59 235.59 (1) (f).
SB21,3824 13Section 3824. 234.01 (6) of the statutes is renumbered 235.40 (6), and 235.40
14(6) (a) and (b), as renumbered, are amended to read:
SB21,1421,1815 235.40 (6) (a) If the corporation receives any loan or advance from the authority
16under this chapter subchapter, it may enter into an agreement with the authority
17providing for regulation with respect to rents, profits, dividends , and disposition of
18property or franchises; and.
SB21,1422,319 (b) If the corporation receives a loan or advance under this chapter subchapter,
20the chairperson of the board of the authority, or his or her designee, acting with the
21prior approval of the majority of the members of the authority board, may, if he or
22she determines that any such loan or advance is in jeopardy of not being repaid, that
23the proposed development for which such loan or advance was made is in jeopardy
24of not being constructed, or that the corporation is not carrying out the intent and
25purposes of this chapter subchapter, appoint to the board of directors of such

1corporation a number of new directors, which number shall be sufficient to constitute
2a majority of such that board of directors, notwithstanding any other provision of
3such articles of incorporation or of any other provision of law.
SB21,3825 4Section 3825. 234.01 (7) of the statutes is renumbered 235.40 (7).
SB21,3826 5Section 3826. 234.01 (7m) of the statutes is renumbered 235.40 (7m) and
6amended to read:
SB21,1422,87 235.40 (7m) "Housing rehabilitation loan" means a low interest housing
8rehabilitation loan as defined in s. 234.49 235.49 (1) (f) and (fm).
SB21,3827 9Section 3827. 234.01 (8) of the statutes is renumbered 235.40 (8), and 235.40
10(8) (a) and (b), as renumbered, are amended to read:
SB21,1422,1411 235.40 (8) (a) As a condition of acceptance of a loan or advance under this
12chapter subchapter, the limited-profit entity shall enter into an agreement with the
13authority providing for limitations of rents, profits, dividends, and disposition of
14property or franchises; and.
SB21,1423,215 (b) If the limited-profit entity receives a loan or advance under this chapter
16subchapter, the chairperson of the board of directors of the authority, or his or her
17designee
, acting with the prior approval of the majority of members of the authority
18board, may, if he or she determines that any such loan or advance is in jeopardy of
19not being repaid, that the proposed development for which such loan or advance was
20made is in jeopardy of not being constructed, or that the limited-profit entity is
21otherwise not carrying out the intent and purposes of this chapter subchapter,
22appoint to the board of directors or other comparable controlling body of such
23limited-profit entity a number of new directors or persons, which number shall be
24sufficient to constitute a voting majority of such board or controlling body,

1notwithstanding any other provisions of the limited-profit entity's articles of
2incorporation or other documents of organization, or of any other provisions of law.
SB21,3828 3Section 3828. 234.01 (9) of the statutes is renumbered 235.40 (9), and 235.40
4(9) (a) 5., as renumbered, is amended to read:
SB21,1423,195 235.40 (9) (a) 5. That if the corporation receives a loan or advance under this
6chapter subchapter, the chairperson of the board of directors of the authority, or his
7or her designee
, acting with the prior approval of the majority of the members of the
8authority
board, may, on determination that any such loan or advance is in jeopardy
9of not being repaid, that the proposed development for which such loan or advance
10was made is in jeopardy of not being constructed, that some part of the net income
11or net earnings of the corporation is inuring to the benefit of any private person, that
12the corporation is in some manner controlled or under the direction of or acting in
13the substantial interest of any private person seeking to derive benefit or gain
14therefrom or seeking to eliminate or minimize losses in any dealings or transactions
15therewith, or that the corporation is not carrying out the intent and purposes of this
16chapter subchapter, appoint to the board of directors of such corporation a number
17of new directors, which number shall be sufficient to constitute a majority of such
18board, notwithstanding any other provisions of such articles of incorporation or of
19any other provisions of law.
SB21,3829 20Section 3829. 234.01 (10) of the statutes is renumbered 235.40 (10) and
21amended to read:
SB21,1424,822 235.40 (10) "Persons and families of low and moderate income" means persons
23and families who cannot afford to pay the amounts at which private enterprise,
24without federally-aided federally aided mortgages or loans from the authority, can
25provide a substantial supply of decent, safe and sanitary housing and who fall within

1income limitations set by the authority in its rules policies and procedures. In
2determining such income limitations the authority shall consider the amounts of the
3total income of such persons available for housing needs, the size of the family, the
4cost and condition of available housing facilities, standards established for various
5federal programs, and any other factors determined by the authority to be
6appropriate in arriving at such limitations. Among low- or moderate-income
7persons and families, preference shall be given to those displaced by governmental
8action.
SB21,3830 9Section 3830. 234.02 of the statutes is repealed.
SB21,3831 10Section 3831. 234.03 of the statutes is repealed.
SB21,3832 11Section 3832. 234.032 of the statutes is repealed.
SB21,3833 12Section 3833. 234.034 of the statutes is renumbered 235.401.
SB21,3834 13Section 3834. 234.04 of the statutes is renumbered 235.402, and 235.402 (2),
14as renumbered, is amended to read:
SB21,1425,515 235.402 (2) The authority may make or participate in the making and enter
16into commitments for the making of long-term mortgage loans to eligible sponsors
17of housing projects for occupancy by persons and families of low and moderate
18income, or for the making of homeownership mortgage loans or housing
19rehabilitation loans or loans for the refinancing of qualified subprime loans under
20s. 234.592   235.592 to persons and families of low and moderate income, an applicant
21under s. 234.59 or 234.592 235.59 to 235.592, or other eligible beneficiaries as defined
22in s. 234.49 235.49. The loans may be made only upon the determination by the
23authority that they are not otherwise available from private lenders upon reasonably
24equivalent terms and conditions. The authority may not make a loan to a person
25whose name appears on the statewide support lien docket under s. 49.854 (2) (b),

1unless the person provides to the authority a payment agreement that has been
2approved by the county child support agency under s. 59.53 (5) and that is consistent
3with rules promulgated under s. 49.858 (2) (a). The authority may employ, for such
4compensation as it determines, the services of any financial institution in connection
5with any loan.
SB21,3835 6Section 3835. 234.05 of the statutes is renumbered 235.403.
SB21,3836 7Section 3836. 234.06 of the statutes is renumbered 235.404.
SB21,3837 8Section 3837. 234.07 of the statutes is renumbered 235.405, and 235.405 (1),
9as renumbered, is amended to read:
SB21,1426,810 235.405 (1) Except as provided in sub. (2), a limited-profit entity which that
11receives loans from the authority may not make distributions, other than from funds
12contributed to the limited-profit entity by stockholders, partners, members, or
13holders of beneficial interest in the limited-profit entity, in any one year with respect
14to a project financed by the authority in excess of 6% of its equity in such project on
15a cumulative basis. The equity in a project shall consist of the difference between the
16amount of the mortgage loan and the total project cost. Total project cost shall
17include construction or rehabilitation costs including job overhead and a builder's
18and sponsor's profit and risk fee, architectural, engineering, legal , and accounting
19costs, organizational expenses, land value, interest, and financing charges paid
20during construction, the cost of landscaping and off-site improvements, whether or
21not such costs have been paid in cash or in a form other than cash. With respect to
22every project the authority shall, pursuant to rules policies and procedures adopted
23by it, establish the entity's equity at the time of making of the final mortgage advance
24and, for purposes of this section, that figure shall remain constant during the life of
25the authority's loan with respect to such project. Upon the dissolution of the

1limited-profit entity any surplus in excess of the distributions allowed by this section
2shall be paid to the authority. For this purpose surplus shall not be deemed to include
3any increase in net worth of any limited-profit entity by reason of a reduction of
4mortgage indebtedness, by amortization or similar payments or by reason of the sale
5or disposition of any assets of a limited-profit entity to the extent such surplus can
6be attributed to any increase in market value of any real or tangible personal
7property accruing during the period the assets were owned and held by the
8limited-profit entity.
SB21,3838 9Section 3838. 234.08 (title) of the statutes is renumbered 235.02 (title).
SB21,3839 10Section 3839. 234.08 (1) of the statutes is renumbered 235.02 (1) and amended
11to read:
SB21,1426,2412 235.02 (1) The authority may issue its negotiable notes and bonds in such
13principal amount, as, in the opinion of the authority, is necessary to provide sufficient
14funds for achieving its corporate purposes, including the purchase of certain
15mortgages and securities and the making of secured loans for low- and
16moderate-income housing, for the rehabilitation of existing structures and for the
17construction of facilities appurtenant thereto as provided in this chapter; for the
18making of secured loans to assist eligible elderly homeowners in paying property
19taxes and special assessments; for the payment of interest on notes and bonds of the
20authority during construction; for the establishment of reserves to secure such notes
21and bonds; for the provision of moneys for the housing development fund in order to
22make temporary loans to sponsors of housing projects as provided in this chapter;
23and for all other expenditures of the authority incident to and necessary or
24convenient to carry out its corporate purposes and powers
.
SB21,3840 25Section 3840. 234.08 (2) of the statutes is renumbered 235.02 (2).
SB21,3841
1Section 3841. 234.08 (3) of the statutes is renumbered 235.02 (3).
SB21,3842 2Section 3842. 234.08 (4) of the statutes is renumbered 235.02 (4).
SB21,3843 3Section 3843. 234.08 (5) of the statutes is repealed.
SB21,3844 4Section 3844. 234.08 (6) of the statutes is repealed.
SB21,3845 5Section 3845. 234.08 (7) of the statutes is renumbered 235.02 (7).
SB21,3846 6Section 3846. 234.09 of the statutes is renumbered 235.021 and amended to
7read:
SB21,1427,20 8235.021 Same Notes and bonds; authorization; terms. The authority's
9notes and bonds shall be authorized by resolution of the members of the authority
10board; shall bear such date or dates, and shall mature at such time or times, in the
11case of any note, or any renewal thereof, not exceeding 5 years, from the date of issue
12of such original note, and in the case of any bond not exceeding 50 years from the date
13of issue, as the resolution provides. The notes and bonds shall bear interest at such
14rate or rates, be in such denominations of $1,000 or more, be in such form, either
15coupon or registered, carry such registration privileges, be executed in such manner,
16be payable in such medium of payment, at such place and be subject to such terms
17of redemption as the resolution provides. The bonds may be issued as serial bonds
18payable in annual installments or as term bonds or as a combination thereof. The
19notes and bonds of the authority may be sold by the authority, at public or private
20sale, at the price determined by the authority.
SB21,3847 21Section 3847. 234.10 of the statutes is renumbered 235.0215, and 235.0215
22(title) and (9), as renumbered, are amended to read:
SB21,1427,24 23235.0215 (title) Same Notes and bonds; resolution authorizing
24issuance, contents.
SB21,1428,6
1(9) Vesting in a trustee such property, rights, powers, and duties in trust as the
2authority determines, which may include any or all of the rights, powers, and duties
3of the trustee appointed by the noteholders or bondholders pursuant to s. 234.20
4235.0265 and limiting or abrogating the right of the noteholders or bondholders to
5appoint a trustee under s. 234.20 235.0265 or limiting the rights, powers, and duties
6of such trustee, in which event s. 234.20 235.0265 shall not apply.
SB21,3848 7Section 3848. 234.11 of the statutes is renumbered 235.022 and amended to
8read:
SB21,1428,16 9235.022 Same Notes and bonds; validity and effect of pledge. Any pledge
10made by the authority shall be valid and binding from the time when the pledge is
11made; the moneys or property so pledged and thereafter received by the authority
12shall immediately be subject to the lien of such pledge without any physical delivery
13thereof or further act; and the lien of any such pledge shall be valid and binding as
14against all parties having claims of any kind in tort, contract. or otherwise against
15the authority, irrespective of whether such parties have notice thereof. Neither the
16resolution nor any other instrument by which a pledge is created need be recorded.
SB21,3849 17Section 3849. 234.12 of the statutes is renumbered 235.0225 and amended to
18read:
SB21,1428,23 19235.0225 Same Notes and bonds; personal liability of members of
20authority.
Neither the members of the authority board, nor the members of a
21committee established by the board,
nor any person executing the notes or bonds
22shall be liable personally on the notes or bonds or be subject to any personal liability
23or accountability by reason of the issuance thereof.
SB21,3850 24Section 3850. 234.13 of the statutes is renumbered 235.023, and 235.023
25(title), as renumbered, is amended to read:
SB21,1429,1
1235.023 (title) Same Notes and bonds; purchase for cancellation.
SB21,3851 2Section 3851. 234.14 of the statutes is renumbered 235.0235, and 235.0235
3(title), as renumbered, is amended to read:
SB21,1429,4 4235.0235 (title) Same Notes and bonds; liability of state.
SB21,3852 5Section 3852. 234.15 of the statutes is renumbered 235.024.
SB21,3853 6Section 3853. 234.16 of the statutes is renumbered 235.0245.
SB21,3854 7Section 3854. 234.165 of the statutes is renumbered 235.025, and 235.025 (2)
8(dm), as renumbered, is amended to read:
SB21,1429,119 235.025 (2) (dm) The authority shall allocate a portion of its surplus in a plan
10prepared under par. (b) to the property tax deferral loan program under ss. 234.621
11to 234.626
235.621 to 235.626.
Loading...
Loading...