2019 - 2020 LEGISLATURE
June 4, 2019 - Offered by Senator Marklein.
SB219-SA1,1,11 At the locations indicated, amend the bill as follows:
SB219-SA1,1,2 21. Page 3, line 3: delete “permanent".
SB219-SA1,1,3 32. Page 3, line 5: delete lines 5 to 7 and substitute:
SB219-SA1,1,4 4 Section 5m. 234.907 (2m) of the statutes is created to read:
SB219-SA1,1,95 234.907 (2m) Origination fees. The authority may charge a guarantee
6origination fee on every loan guaranteed under this section. The amount of the fee
7may not exceed 1.5 percent of a loan's guaranteed principal. The participating lender
8shall collect the fee and remit it to the authority. The authority shall deposit all fees
9received under this subsection in the Wisconsin development reserve fund.
SB219-SA1,5s 10Section 5s. 234.907 (3) of the statutes is amended to read:
SB219-SA1,2,411 234.907 (3) Guarantee of collection. The authority may guarantee collection
12of up to 90 percent of the disbursed principal of any loan eligible for a guarantee
13under sub. (2). The authority shall establish the percentage of the unpaid principal

1of an eligible loan that will be guaranteed, using the procedures described in the
2guarantee agreement under s. 234.93 (2) (a). The authority may establish a single
3percentage for all guaranteed loans or establish different percentages for eligible
4loans on an individual basis.”.
SB219-SA1,2,5 53. Page 3, line 11: after “of the" insert “disbursed".
SB219-SA1,2,6 64. Page 3, line 13: delete lines 13 to 15 and substitute:
SB219-SA1,2,11 7“(b) In the event of default, the amount guaranteed under par. (a) shall be
8payable in full to the authorized lender regardless of the amount due after all
9available collateral securing the loan has been liquidated and applied to the loan,
10except that if that amount due is less than the amount guaranteed under par. (a), the
11amount due shall be payable to the authorized lender.”.