3. "Leased generation contract" means a contract or arrangement or set of contracts or arrangements under which an affiliated interest of a public utility agrees with the public utility to construct or improve an electric generating facility and to lease to the public utility land and the facility for operation by the public utility.
(b) The commission may approve a leased generation contract under sub. (3) only if all of the following apply:
1. The commission has not issued a certificate under s. 196.49 or a certificate of public convenience and necessity under s. 196.491 (3) before January 1, 2002, for any construction or improvement that is subject to the leased generation contract.
2. Construction or improvement of the electric generating facility that is subject to the leased generation contract commences on or after January 1, 2002.
3. Except as provided in s. 196.795 (5) (k) 3., no electric generating facility, electric generating equipment, or associated facilities, held or used by the public utility for the provision of electric service, is transferred to the affiliated interest.
4. The estimated gross cost of the construction or improvement that is subject to the leased generation contract is at least $10,000,000.
5. The construction or improvement is not to a nuclear-powered facility.
6. Any real property that the public utility transfers to the affiliated interest for the purpose of implementing the leased generation contract is transferred at book value, which is determined on the basis of the regulated books of account at the time of the transfer.
7. If the public utility transfers real property to the affiliated interest for the purpose of implementing the leased generation contract, the leased generation contract provides for transferring that real property back to the public utility, on the same terms and conditions as the original transfer, if the commission determines that the construction or improvement that is subject to the leased generation contract has not been completed.
8. The leased generation contract provides that, upon termination of the contract, all of the following apply:
a. The public utility shall have the option, subject to commission approval, to extend the contract, or purchase the electric generating facility or the improvements to an electric generating facility, at fair market value as determined by a valuation process that is conducted by an independent third party and that is specified in the contract.
b. If the public utility exercises the option specified in subd. 8. a., the affiliated interest may require the public utility to extend the contract, rather than purchase the facilities or improvements, if the affiliated interest demonstrates to the commission that the extension avoids material adverse tax consequences and that the extension provides terms and conditions that are economically equivalent to a purchase.
9. For any gas-fired electric generating facility that is constructed under the leased generation contract, the term of the lease is 20 years or more.
10. For any coal-fired electric generating facility that is constructed under the leased generation contract, the term of the lease is 25 years or more.
11. The leased generation contract does not take effect until the date on which the affiliated interest commences construction or improvement of the electric generating facility, except that, if the leased generation contract relates to the construction or improvement of more than one electric generating facility, the leased generation contract does not take effect with respect to the construction or improvement of an individual electric generating facility until the date on which the affiliated interest commences construction or improvement on that electric generating facility.
(c) Except as provided in par. (d), the commission may not increase or decrease the retail revenue requirements of a public utility on the basis of any income, expense, gain, or loss that is received or incurred by an affiliated interest of the public utility and that arises from the ownership of an electric generating facility or an improvement to an electric generating facility by an affiliated interest under a leased generation contract.
(d) The commission shall allow a public utility that has entered into a leased generation contract that has been approved by the commission under sub. (3) to recover fully in its retail rates that portion of any payments under the leased generation contract that the commission allocates to the public utility's retail electric service, and that portion of all other costs that is prudently incurred in the public utility's operation and maintenance of the electric generating facility or improvement that is subject to the leased generation contract and that the commission allocates to the public utility's retail electric service.
(e) Notwithstanding sub. (5) (a), the commission may not modify or terminate a leased generation contract approved under sub. (3) except as specified in the leased generation contract or the commission's order approving the leased generation contract.
(f) The commission shall maintain jurisdiction to ensure that the construction or improvement under a leased generation contract approved under sub. (3) is completed as provided in the leased generation contract.
(g) Nothing in this subsection prohibits a cooperative association organized under ch. 185, a municipal utility, as defined in s. 196.377 (2) (a) 3., or a municipal electric company, as defined in s. 66.0825 (3) (d), from acquiring an interest in an electric generating facility that is constructed pursuant to a leased generation contract or from acquiring an interest in land on which such an electric generating facility is located.
16,3011d
Section 3011d. 196.66 (3) (b) 1. and 3. of the statutes are amended to read:
196.66 (3) (b) 1. The appropriateness of the forfeiture to the volume of business of the public utility or telecommunications provider.
3. Any good faith attempt to achieve compliance after the public utility, telecommunications provider, agent, director, officer, or employee receives notice of the violation.
16,3011g
Section 3011g. 196.795 (5) (k) 1. of the statutes is amended to read:
196.795 (5) (k) 1. Except as provided under subd. 2. or 3., no public utility affiliate may transfer, sell, or lease to any nonutility affiliate with which it is in a holding company system any real property which, on or after November 28, 1985, is held or used for provision of utility service except by public sale or offering to the highest qualified bidder.
16,3011jc
Section 3011jc. 196.795 (5) (k) 3. of the statutes is created to read:
196.795 (5) (k) 3. For the purpose of implementing a leased generation contract, as defined in s. 196.52 (9) (a) 3., that is approved under s. 196.52 (3), a public utility affiliate may transfer to a nonutility affiliate, at book value determined on the basis of the regulated books of account at the time of the transfer, any of the following:
a. Land that is held or used for the provision of utility service.
b. Electric generating equipment or associated facilities that are located on the land on which an electric generating facility subject to a leased generation contract is to be constructed, and that are part of an electric generating facility on that land that is no longer used or useful for the provision of utility service and that has been retired from the provision of utility service.
16,3012
Section 3012. 196.85 (1) of the statutes is renumbered 196.85 (1) (a) and amended to read:
196.85 (1) (a) If the commission in a proceeding upon its own motion, on complaint, or upon an application to it deems it necessary in order to carry out the duties imposed upon it by law to investigate the books, accounts, practices, and activities of, or make appraisals of the property of any public utility, power district, or sewerage system or to render any engineering or accounting services to any public utility, power district, or sewerage system, the public utility, power district, or sewerage system shall pay the expenses attributable to the investigation, including the cost of litigation, appraisal, or service. The commission shall mail a bill for the expenses to the public utility, power district, or sewerage system either at the conclusion of the investigation, appraisal, or services, or during its progress. The bill constitutes notice of the assessment and demand of payment. The public utility, power district, or sewerage system shall, within 30 days after the mailing of the bill, pay to the commission the amount of the special expense for which it is billed. Ninety percent of the payment shall be credited to the appropriation account under s. 20.155 (1) (g). The
(b) Except as provided in sub. (1m) (a), the total amount in any one calendar year for which any public utility, power district, or sewerage system is liable
under this subsection, by reason of costs incurred by the commission within the calendar year, including charges under s. 201.10 (3), may not exceed four-fifths of one percent of its gross operating revenues derived from intrastate operations in the last preceding calendar year.
(c) Nothing in this subsection shall prevent the commission from rendering bills in one calendar year for costs incurred within a previous year.
(d) For the purpose of calculating the costs of investigations, appraisals, and other services under this subsection, 90% of the costs determined shall be costs of the commission and 10% of the costs determined shall be costs of state government operations.
16,3013
Section 3013. 196.85 (1m) (a) of the statutes is amended to read:
196.85 (1m) (a) For the purpose of direct assessment under sub. (1) of expenses incurred by the commission in connection with its activities under s. 196.491, the term "public utility" includes electric utilities, as defined in s. 196.491 (1) (d). Subsection (1) (b) does not apply to assessments for the commission's activities under s. 196.491 related to the construction of wholesale merchant plants.
16,3014b
Section 3014b. 196.85 (2g) of the statutes is repealed.
16,3015
Section 3015. 196.85 (3) of the statutes is amended to read:
196.85 (3) If any public utility, sewerage system, joint local water authority, mobile home park operator or power district is billed under sub. (1), (2), or (2e) or (2g) and fails to pay the bill within 30 days or fails to file objections to the bill with the commission, as provided in this subsection, the commission shall transmit to the state treasurer a certified copy of the bill, together with notice of failure to pay the bill, and on the same day the commission shall mail by registered mail to the public utility, sewerage system, joint local water authority, mobile home park operator or power district a copy of the notice which that it has transmitted to the state treasurer. Within 10 days after receipt of the notice and certified copy of the bill, the state treasurer shall levy the amount stated on the bill to be due, with interest, by distress and sale of any property, including stocks, securities, bank accounts, evidences of debt, and accounts receivable belonging to the delinquent public utility, sewerage system, joint local water authority, mobile home park operator or power district. The levy by distress and sale shall be governed by s. 74.10, 1985 stats., except that it shall be made by the state treasurer and that goods and chattels anywhere within the state may be levied upon.
16,3016
Section 3016. 196.85 (4) (a) of the statutes is amended to read:
196.85 (4) (a) Within 30 days after the date of the mailing of any bill under sub. (1), (2), or (2e)
or (2g), the public utility, sewerage system, joint local water authority, mobile home park operator or power district that has been billed may file with the commission objections setting out in detail the grounds upon which the objector regards the bill to be excessive, erroneous, unlawful, or invalid. The commission, after notice to the objector, shall hold a hearing upon the objections, from 5 to 10 days after providing the notice. If after the hearing the commission finds any part of the bill to be excessive, erroneous, unlawful, or invalid, it shall record its findings upon its minutes and transmit to the objector by registered mail an amended bill, in accordance with the findings. The amended bill shall have the same force and effect under this section as an original bill rendered under sub. (1), (2), or (2e) or (2g).
16,3017
Section 3017. 196.85 (5) of the statutes is amended to read:
196.85 (5) No suit or proceeding may be maintained in any court to restrain or delay the collection or payment of any bill rendered under sub. (1), (2), or (2e)
or (2g). Every public utility, sewerage system, joint local water authority, mobile home park operator or power district that is billed shall pay the amount of the bill, and after payment may in the manner provided under this section, at any time within 2 years from the date the payment was made, sue the state to recover the amount paid plus interest from the date of payment, upon the ground that the assessment was excessive, erroneous, unlawful, or invalid in whole or in part. If the court finds that any part of the bill for which payment was made was excessive, erroneous, unlawful, or invalid, the state treasurer shall make a refund to the claimant as directed by the court. The refund shall be charged to the appropriations to the commission.
16,3017m
Section 3017m. 196.856 of the statutes is repealed.
16,3018
Section 3018. 196.858 (1) of the statutes is amended to read:
196.858 (1) The commission shall annually assess against local exchange and interexchange telecommunications utilities the total, not to exceed $5,000,000, of the amounts appropriated under s. 20.505 (4) (is)
20.530 (1) (ir).
16,3019
Section 3019. 196.858 (2) of the statutes is amended to read:
196.858 (2) The commission shall assess a sum equal to the annual total amount under sub. (1) to local exchange and interexchange telecommunications utilities in proportion to their gross operating revenues during the last calendar year. If total expenditures for telephone relay service exceeded the payment made under this section in the prior year, the commission shall charge the remainder to assessed telecommunications utilities in proportion to their gross operating revenues during the last calendar year. A telecommunications utility shall pay the assessment within 30 days after the bill has been mailed to the assessed telecommunication utility. The bill constitutes notice of the assessment and demand of payment. Payments shall be credited to the appropriation account under s. 20.505 (4) (is)
20.530 (1) (ir).
16,3020d
Section 3020d. 198.167 of the statutes is amended to read:
198.167 Certified public accountant; annual report. The directors of the district shall employ annually the commission or a certified public accountant licensed or certified under ch. 442 approved by said commission who shall be qualified to, and who shall with all due diligence, examine and report upon the system of accounts kept by the district, all the contracts of whatsoever kind made and entered into by the board of directors within the year immediately preceding, and the properties and investments of the district. Said The certified public accountant shall in the report make such recommendations and suggestions as to the certified public accountant shall seem proper and required for the good of the district, and the efficient and economical or advantageous management and operation of the public utility or utilities of the district; and the certified public accountant shall in the report make such recommendations and suggestions as to the system of accounts kept, or in the certified public accountant's judgment to be kept, by the district, in connection with each public utility, the classification of the public utilities of the district and the establishment of a system of accounts for each class, the manner in which such accounts shall be kept, the form of accounts, records, and memoranda kept or to be kept, including accounts, records, and memoranda of receipts and expenditures of money, and depreciation and sinking fund accounts, as in the certified public accountant's judgment may be proper and necessary, and shall not conflict with the requirements of the commission.
16,3020h
Section 3020h. 200.49 (1) (a) of the statutes is amended to read:
200.49 (1) (a) "Minority business" means a sole proprietorship, partnership, limited liability company, joint venture or corporation that is at least 51% owned and controlled by one or more minority group members and that is engaged in construction or construction-related activities business that is certified by the department of commerce under s. 560.036 (2).
16,3020i
Section 3020i. 200.49 (3) (intro.) of the statutes is amended to read:
200.49 (3) Request for proposals. (intro.) The executive director shall request proposals for prime contracts from bondable general contractors or construction contractors that are bona fide independent minority businesses. Each proposal submitted shall include all of the following conditions:
16,3020j
Section 3020j. 200.49 (3) (b) of the statutes is amended to read:
200.49 (3) (b) A subcontracting plan that provides sufficient detail to enable the executive director to determine that the prime contractor has made or will make a good faith effort to award at least 20% of the total contract amount to bona fide independent minority business subcontractors.
16,3020k
Section 3020k. 200.49 (4) of the statutes is repealed.
16,3020L
Section 3020L. 214.76 (2) and (4) of the statutes are amended to read:
214.76 (2) The certified public accountant shall deliver the audit report to a committee composed of 3 or more members of the board of directors, none of whom may be an officer, employee or agent of the savings bank. The committee shall present the nature, extent and conclusions of the report at the next meeting of the board of directors. A written summary of the committee's presentation, together with a copy of the audit report and a list of all criticisms made by the certified public accountant conducting the audit and any response of any member of the board of directors or any officer of the savings bank, shall be personally served or sent by certified mail to all members of the board of directors.
(4) The audit report filed with the division shall be certified by the certified public accountant conducting the audit. If a savings bank fails to cause an audit to be made, the division shall order an audit to be made by an independent certified public accountant at the savings bank's expense. Instead of the audit required under sub. (1), the division may accept an audit or portion of an audit made exclusively for a deposit insurance corporation or for a financial regulator of another state if the home office of the savings bank is located in that state.
16,3020m
Section 3020m. 215.523 (2) of the statutes is amended to read:
215.523 (2) Legal counsel, certified public accountants licensed or certified under ch. 442, or other persons as to matters the director or officer believes in good faith are within the person's professional or expert competence.
16,3020n
Section 3020n. 217.08 (2) of the statutes is amended to read:
217.08 (2) Annual license fee; additions and deletions of locations. Each licensee shall file with the division on or before December 1 of each year a statement listing the locations of the offices of the licensee and the names and locations of the agents authorized by the licensee. Every licensee shall also on or before December 1 of each year file a financial statement of its assets and liabilities as of a date not earlier than the preceding August 31 or, if the licensee is audited annually by an independent certified public accountant licensed or certified under ch. 442 at the end of each fiscal year, the licensee may submit financial statements certified by said the certified public accountant for the licensee's latest fiscal year. Such statement shall be accompanied by the annual licensee fee for the calendar year beginning the following January 1 in an amount determined under s. 217.05. The amount of the surety bond or deposit of securities required by s. 217.06 shall be adjusted to reflect the number of such locations. Licensees which do not pay the maximum license fee under s. 217.05 and which do not maintain a bond or deposit of securities in the maximum sum of $300,000 as provided in s. 217.06 shall also file a supplemental statement setting forth any changes in the list of offices and agents with the division on or before April 1, July 1 and October 1 of each year, and the principal sum of the corporate surety bond or deposit of securities required by s. 217.06 shall be adjusted to reflect any increase or decrease in the number of such locations. Any additional license fees which may become due under s. 217.05 shall be paid to the division.
16,3020p
Section 3020p. Chapter 218 (title) of the statutes is amended to read:
CHAPTER 218
FINANCE COMPANIES, AUTO
DEALERS, ADJUSTMENT COMPANIES
and, collection agencies,
rental-purchase companies, and
rent-to-own agreements
16,3020q
Section 3020q. 218.0101 (19m) of the statutes is created to read:
218.0101 (19m) "Low-speed vehicle" has the meaning given in s. 340.01 (27m).
16,3020r
Section 3020r. 218.0101 (23) (a) 2. of the statutes is amended to read:
218.0101 (23) (a) 2. Is engaged wholly or in part in the business of selling or leasing motor vehicles, including motorcycles and low-speed vehicles, whether or not the motor vehicles are owned by that person, firm or corporation.
16,3020s
Section 3020s. 218.0114 (5) (a) of the statutes is amended to read:
218.0114 (5) (a) A motor vehicle dealer or an applicant for a motor vehicle dealer license shall provide and maintain in force a bond or irrevocable letter of credit of not less than $25,000 or, if the dealer or applicant sells or proposes to sell motorcycles or low-speed vehicles, or both, and not other types of motor vehicles, a bond or irrevocable letter of credit of not less than $5,000. The bond or letter of credit shall be executed in the name of the department of transportation for the benefit of any person who sustains a loss because of an act of a motor vehicle dealer that constitutes grounds for the suspension or revocation of a license under ss. 218.0101 to 218.0163.
16,3020t
Section 3020t. 218.0122 (3) of the statutes is amended to read:
218.0122 (3) This section does not apply to motorcycles or low-speed vehicles that are delivered in a crated, disassembled condition to the dealer or the dealer's agent.
16,3020u
Section 3020u. 218.0171 (2) (b) 2. b. of the statutes is amended to read:
218.0171 (2) (b) 2. b. Accept return of the motor vehicle and refund to the consumer and to any holder of a perfected security interest in the consumer's motor vehicle, as their interest may appear, the full purchase price plus any sales tax, finance charge, amount paid by the consumer at the point of sale and collateral costs, less a reasonable allowance for use. Under this subdivision, a reasonable allowance for use may not exceed the amount obtained by multiplying the full purchase price of the motor vehicle by a fraction, the denominator of which is 100,000 or, for a motorcycle or low-speed vehicle, 20,000, and the numerator of which is the number of miles the motor vehicle was driven before the consumer first reported the nonconformity to the motor vehicle dealer.
16,3020v
Section 3020v. Subchapter XI of chapter 218 [precedes 218.61] of the statutes is created to read:
CHAPTER 218
Subchapter XI
Rental-purchase companies and
Rent-to-own agreements
218.61 Definitions. In this subchapter:
(1) "Division" means the division of banking in the department of financial institutions.
(2) "Lessee" means an individual who rents personal property under a rent-to-own agreement.
(3) "Licensee" means a rental-purchase company holding a license issued by the division under this subchapter.
(4) "Rental property" means personal property rented under a rent-to-own agreement.
(5) "Rental-purchase company" means a person engaged in the business of entering into rent-to-own agreements in this state or acquiring or servicing rent-to-own agreements that are entered into in this state.
(6) "Rent-to-own agreement" means an agreement between a rental-purchase company and a lessee for the use of personal property if all of the following conditions are met:
(a) The personal property that is rented under the agreement is to be used primarily for personal, family, or household purposes.
(b) The agreement has an initial term of 4 months or less and is automatically renewable with each payment after the initial term.
(c) The agreement does not obligate or require the lessee to renew the agreement beyond the initial term.
