45.356 (10) Subject to the limit established in subs. (2) and (3), the department may periodically adjust the maximum loan amount based upon financial market conditions, funds available, needs of the veterans trust funds, or other factors that the department considers relevant.
83,24
Section
24. 45.356 (11) of the statutes is created to read:
45.356 (11) The department may periodically adjust the interest rates for loans made under this section, which may vary based upon the term of the loan, the type of security offered, the method of payment, or other factors that the department considers relevant.
83,25
Section
25. 45.356 (12) of the statutes is created to read:
45.356 (12) Each loan made under this section, except a loan of $5,000 or less made to an applicant whose total indebtedness for loans made under this section is $5,000 or less, shall be evidenced by a promissory note and secured by a mortgage on real estate located in this state. A loan of $5,000 or less made to an applicant whose total indebtedness for loans made under this section is $5,000 or less shall be evidenced by a promissory note and secured by a guarantor or by a mortgage on real estate located in this state. A mortgage securing a loan made under this section is acceptable if the applicant has equity in the property subject to the mortgage equal to or exceeding a minimum amount that the department establishes by rule.
83,26
Section
26. 45.358 (1) (b) of the statutes is amended to read:
45.358 (1) (b) "Veteran" means a person who has served on active duty, except service on active duty for training purposes, in the U.S. armed forces.
45.396 (5) (a) Except as provided in par. (b), the amount of the reimbursement may not exceed the total cost of the individual's veteran's tuition or the standard cost for a state resident for tuition for an equivalent undergraduate course at the University of Wisconsin-Madison per course, whichever is less, minus any grants or scholarships that the veteran receives specifically for the payment of tuition and may not be provided to an individual a veteran more than 4 times during any consecutive 12-month period.
83,28
Section
28. 45.396 (7) (a) (intro.) of the statutes is renumbered 45.396 (7) (a) and amended to read:
45.396 (7) (a) No veteran may receive a grant under this section if the department determines, after disregarding any payment described under s. 45.85, 1997 stats., that the income of the veteran and his or her spouse exceeds $500 $50,000 plus $1,000 for each dependent in excess of 2 dependents plus whichever of the following applies:.
83,29
Section
29. 45.396 (7) (a) 1. and 2. of the statutes are repealed.
83,31
Section
31. 45.71 (2) of the statutes is amended to read:
45.71 (2) "Authorized lender" means any lender
or servicer authorized under s. 45.79 (5) (a) 5. to make or service loans under s. 45.79.
83,32
Section
32. 45.71 (16) (a) 2m. (intro.) of the statutes is amended to read:
45.71 (16) (a) 2m. (intro.) The person is either a resident of and living in this state at the time of making application, is serving on active duty in the U.S. armed forces at the time of making application, or is deceased, and meets one of the following conditions:
83,33
Section
33. 45.79 (2) (a) of the statutes is amended to read:
45.79 (2) (a) Application and content. Applications for loans under this section for a purpose specified in s. 45.76 (1) (a), (b), or (d) shall be made to an authorized lender and applications for loans under this section for a purpose specified under s. 45.76 (1) (c) shall may be made to the department or to a county veterans' service officer on forms approved by the department and signed by the applicant. If the applicant is married and not separated or in the process of obtaining a divorce, the applicant's spouse also shall sign the application.
83,34
Section
34. 45.79 (2) (b) of the statutes is amended to read:
45.79 (2) (b) Certification by department. The applicant shall may apply directly to the department or through a county veterans' service officer for certification of eligibility as a veteran.
83,35
Section
35. 45.79 (5) (a) 11. of the statutes is created to read:
45.79 (5) (a) 11. Enter into contracts with persons other than authorized lenders for the servicing of loans made under this section.
83,36
Section
36. 45.79 (7) (a) 12. of the statutes is created to read:
45.79 (7) (a) 12. To make payments of obligations arising from the acquisition of a headquarters and museum building for the department under s. 45.35 (20).
83,37
Section
37. 45.79 (13) of the statutes is created to read:
45.79 (13) Repayment of loan. Any money appropriated or transferred by law from the veterans mortgage loan repayment fund for purposes other than those listed in sub. (7), other than moneys made temporarily available to other funds under s. 20.002 (11), shall be repaid from the general fund with interest at a rate of 5% per year from the the date of the appropriation or transfer to the date of repayment.
83,38
Section
38. 71.03 (7) (d) of the statutes is created to read:
71.03
(7) (d) For taxable years beginning after December 31, 2002, and before January 1, 2005, for persons who served in support of Operation Iraqi Freedom or an operation that is a successor to Operation Iraqi Freedom in the United States, or for persons who qualify for a federal extension of time to file under
26 USC 7508, who served outside the United States because of their participation in Operation Iraqi Freedom or an operation that is a successor to Operation Iraqi Freedom in the Iraqi Freedom theater of operations.
83,39
Section
39. 230.36 (2m) (a) 19. of the statutes is repealed.
83,40
Section
40. 341.14 (6) (a) of the statutes is amended to read:
341.14 (6) (a) Upon application to register an automobile or a motor truck or dual purpose farm truck that has a gross weight of not more than 8,000 pounds by any person who was a member of any of the U.S. armed services and who was held as a prisoner of war during any of the conflicts described in s. 45.001 (5) (b) to (i) or in Bosnia, Grenada, Lebanon, Panama, Somalia, or a Middle East crisis under s. 45.34, and upon submission of a statement from the U.S. department of veterans affairs certifying that the person was a prisoner of war during one of the conflicts described in s. 45.001 (5) (b) to (i) or in Bosnia, Grenada, Lebanon, Panama, Somalia, or a Middle East crisis under s. 45.34, the department shall issue to the person a special plate that is colored red, white, and blue and that has the words "ex-prisoner of war" placed on the plate in the manner designated by the department.
