2005 Wisconsin Act 25

25,506 Section 506. 23.33 (2) (ir) 1. of the statutes is amended to read:

23.33 (2) (ir) 1. In addition to the applicable fee under par. (c), (d), or (e), each agent appointed under par. (i) 3. shall collect an expedited a service fee of $3 each time the agent issues a validated registration receipt under par. (ig) 1. a. The agent shall retain the entire amount of each expedited service fee the agent collects.

25,507 Section 507. 23.33 (2) (ir) 2. of the statutes is amended to read:

23.33 (2) (ir) 2. In addition to the applicable fee under par. (c), (d), or (e), the department or the agent appointed under par. (i) 3. shall collect an expedited a service fee of $3 $5 each time the expedited service under par. (ig) 1. b. is provided. The agent shall remit to the department $1 of each expedited service fee the agent collects.

25,508c Section 508c. 24.01 (1) of the statutes is amended to read:

24.01 (1) "Agricultural college lands" embraces all lands granted to the state by an act of congress entitled "An act donating public lands to the several states and territories which may provide colleges for the benefit of agriculture and the mechanic arts," approved July 2, 1862, as well as any land received under s. 24.09 (1) (bm) (3) in exchange for such land.

25,508f Section 508f. 24.01 (4) of the statutes is amended to read:

24.01 (4) "Marathon County lands" embraces all lands acquired by the state pursuant to chapter 22 of the general laws of 1867, as well as any land received under s. 24.09 (1) (bm) (3) in exchange for such land.

25,508i Section 508i. 24.01 (5) of the statutes is amended to read:

24.01 (5) "Normal school lands" embraces all parcels of said "swamp lands" which the legislature has declared or otherwise decided, or may hereafter declare or otherwise decide, were not or are not needed for the drainage or reclamation of the same or other lands, as well as any land received under s. 24.09 (1) (bm) (3) in exchange for such land.

25,508L Section 508L. 24.01 (7) of the statutes is amended to read:

24.01 (7) "School lands" embraces all lands made a part of "the school fund" by article X, section 2, of the constitution, as well as any land received under s. 24.09 (1) (bm) (3) in exchange for such land.

25,508p Section 508p. 24.01 (9) of the statutes is amended to read:

24.01 (9) "Swamp lands" embraces all lands which have been or may be transferred to the state pursuant to an act of congress entitled "An act to enable the state of Arkansas and other states to reclaim the swamp lands within their limits," approved September 28, 1850, or pursuant to an act of congress entitled "An act for the relief of purchasers and locators of swamp and overflowed lands," approved March 2, 1855, as well as any land received under s. 24.09 (1) (bm) (3) in exchange for such land.

25,508q Section 508q. 24.01 (10) of the statutes is amended to read:

24.01 (10) "University lands" embraces all lands the proceeds of which are denominated "the university fund" by article X, section 6, of the constitution, as well as any land received under s. 24.09 (1) (bm) (3) in exchange for such land.

25,509s Section 509s. 24.09 (1) (a) of the statutes is renumbered 24.09 (1) and amended to read:

24.09 (1) Except as provided under par. (c) sub. (4), the board may not sell or exchange any public lands which were not appraised or appraised under s. 24.08. Except as provided under pars. (b), (bm) and (c) subs. (2m), (3), and (4), the board may not sell or exchange any public lands except at public auction.

25,509sg Section 509sg. 24.09 (1) (b) of the statutes is renumbered 24.09 (2m).

25,509sm Section 509sm. 24.09 (1) (bm) of the statutes is renumbered 24.09 (3) and amended to read:

24.09 (3) The board may exchange part or all of any parcel of public lands for any other land of approximately equal value if the board determines that the exchange will contribute to the consolidation or completion of a block of land, enhance conservation of lands or otherwise be in the public interest. Under this paragraph subsection, an exchange is of "approximately equal value" if the difference in value between the more highly valued land and the less highly valued land does not exceed 10% of the value of the more highly valued land. All expenses necessarily incurred in making an exchange under this paragraph subsection shall be deducted from the gross receipts of the fund to which the proceeds of the sale of the exchanged land will be added.

25,509sr Section 509sr. 24.09 (1) (c) of the statutes is renumbered 24.09 (4).

25,509t Section 509t. 24.09 (1) (d) of the statutes is renumbered 24.09 (5) and amended to read:

24.09 (5) All sales other than sales under par. (b) or (c) sub. (2m) or (4) shall be made at the times and public places the board designates. Prior to any sale, the board shall publish a class 3 notice, under ch. 985, specifying the time and place and describing the lands to be sold in a newspaper published in the county where the lands are situated.

25,509u Section 509u. 24.09 (2) of the statutes is repealed.

25,509um Section 509um. 24.09 (6) of the statutes is created to read:

24.09 (6) No parcel of public land that was acquired before the effective date of this subsection .... [revisor inserts date], may be exchanged under this section.

25,509v Section 509v. 24.10 of the statutes is amended to read:

24.10 Procedure at sale. At the time and place specified in the notice under s. 24.09 (1) (d) (5) the board shall commence the sale of the lands described in the notice and thereafter continue the same from day to day, Sundays excepted, between 9 a.m. and the setting of the sun, until all lands described in the notice have been offered. The order of the sale shall be to begin at the lowest number of the sections, townships and ranges in each county and proceed regularly to the highest, until all then to be sold are offered for sale. Except for lands withheld from sale under s. 24.09 (2), each Each lot or tract of lands to be sold shall be offered separately at the minimum price fixed by law and shall be cried at public auction long enough to enable every one present to bid. If the minimum price or more is bid, the lot or tract shall be struck off to the highest bidder, but if the minimum price is not bid the tract shall be set down unsold.

25,511m Section 511m. 24.59 of the statutes is created to read:

24.59 Sale of public lands to state under Warren Knowles-Gaylord Nelson stewardship 2000 program. (1) Notwithstanding ss. 24.09, 24.10, 24.15, and 24.16, but subject to subs. (2) and (3), the board shall sell as soon as practicable all public lands under its jurisdiction on the effective date of this subsection .... [revisor inserts date], to the state with the state using moneys obligated by the department as specified under s. 23.0917 (3) and (4). Notwithstanding s. 24.08 (4), the public lands shall be sold at the appraised value determined under sub. (2).

(2) The board shall have all of the public lands independently appraised under s. 24.08 (2) and (3) after the effective date of this subsection .... [revisor inserts date], but before sale under sub. (1).

(3) Notwithstanding s. 24.11, public lands sold under sub. (1) may not be paid for in installments.

(4) The board may not take any action that would in any way impede or prohibit the sale of public lands under sub. (1).

25,513 Section 513. 24.61 (2) (a) (title) of the statutes is amended to read:

24.61 (2) (a) (title) Authorized investments by board.

25,515 Section 515. 24.61 (2) (b) of the statutes is amended to read:

24.61 (2) (b) Deposited with secretary of administration. All bonds, notes, and other securities so purchased under par. (a) shall be deposited with the secretary of administration.

25,516 Section 516. 24.61 (2) (c) of the statutes is created to read:

24.61 (2) (c) Delegation of investment authority to investment board. The board may delegate to the investment board the authority to invest part or all of the moneys belonging to the trust funds. If the board delegates the authority, the investment board may invest the moneys belonging to the trust funds in any fixed income investment or fund that invests only in fixed income instruments.

25,520 Section 520. 25.17 (1) (afp) of the statutes is created to read:

25.17 (1) (afp) Agricultural college fund (s. 24.82), but subject to the terms of delegation under s. 24.61 (2) (c);

25,520m Section 520m. 25.17 (1) (ap) of the statutes is renumbered 25.17 (1) (tw) and amended to read:

25.17 (1) (tw) Budget stabilization Taxpayer protection fund (s. 25.60);

25,521 Section 521. 25.17 (1) (axp) of the statutes is created to read:

25.17 (1) (axp) Common school fund (s. 24.76), but subject to the terms of delegation under s. 24.61 (2) (c);

25,522c Section 522c. 25.17 (1) (gf) of the statutes is repealed.

25,523 Section 523. 25.17 (1) (kd) of the statutes is created to read:

25.17 (1) (kd) Normal school fund (s. 24.80), but subject to the terms of delegation under s. 24.61 (2) (c);

25,524 Section 524. 25.17 (1) (xLc) of the statutes is created to read:

25.17 (1) (xLc) University fund (s. 24.81), but subject to the terms of delegation under s. 24.61 (2) (c);

25,525 Section 525. 25.17 (1) (zm) of the statutes is amended to read:

25.17 (1) (zm) All other funds of the state or of any state department or institution, except funds which under article X of the constitution are controlled and invested by the board of commissioners of public lands, funds which are required by specific provision of law to be controlled and invested by any other authority, and moneys in the University of Wisconsin trust funds, and in the trust funds of the state universities.

25,525m Section 525m. 25.17 (9) of the statutes is amended to read:

25.17 (9) Give advice and assistance requested by the board of commissioners of public lands or the board of regents of the University of Wisconsin System concerning the investment of any moneys that under sub. (1) are excepted from the moneys to be loaned or invested by the investment board, and assign, sell, convey and deed to the board of commissioners of public lands or the board of regents of the University of Wisconsin System any investments made by the investment board as may be mutually agreeable. The cost of any services rendered to the board of commissioners of public lands or the board of regents of the University of Wisconsin System under this section shall be charged to the fund to which the moneys invested belong and shall be added to the appropriation to the investment board in s. 20.536.

25,525t Section 525t. 25.17 (13m) of the statutes is amended to read:

25.17 (13m) No later than 45 days after the end of each calendar quarter, submit a report to the department of administration, the cochairpersons of the joint legislative audit committee, and the cochairpersons of the joint committee on finance detailing all costs and expenses charged to funds under s. 25.18 (1) (a) or (m) during that calendar quarter. The report shall include a breakdown of the amount and percentage of assets managed under each type of dedicated and commingled account or partnership, and the change in the amount and percentage from the prior calendar quarter.

25,528d Section 528d. 25.18 (2) (e) of the statutes is renumbered 25.18 (2) (e) 1. and amended to read:

25.18 (2) (e) 1. Contract with and delegate to investment advisers the management and control over assets from any fund or trust delivered to such investment advisers for investment in real estate, mortgages, equities, and debt and pay such advisers fees from the current income of the fund or trust being invested. No Subject to subd. 2., no more than 15% 20 percent of the total assets of the fixed retirement investment trust or 15% 20 percent of the total assets of the variable retirement investment trust may be delivered to investment advisers to manage in accounts in which the board directly holds title to all securities purchased for the accounts. The board shall set performance standards for such investment advisers, monitor such investments to determine if performance standards are being met and if an investment adviser does not consistently meet the performance standards then terminate the contract with such investment adviser.

25,528g Section 528g. 25.18 (2) (e) 2. of the statutes is created to read:

25.18 (2) (e) 2. For the purpose of calculating the 20 percent limit under subd. 1., the board shall not include any appreciation on assets delivered to the investment advisers. The board shall also not include for this purpose shares or participation in mutual funds, index funds, commingled funds, partnership funds, or other similar collective investment instruments in which the board does not hold title to the underlying investments purchased by the manager of the fund or the collective investment instrument.

25,528m Section 528m. 25.187 (2) (c) 1. of the statutes is amended to read:

25.187 (2) (c) 1. Except as provided in subd. 2., the total amount that the board may assess the funds for which the board has management responsibility for any fiscal year may not exceed the greater of $17,720,500 $20,352,800 or 0.0275% of the total average market value of the assets of the funds on at the end of each month between November 30 and April 30 of the preceding fiscal year.

25,528r Section 528r. 25.187 (2) (c) 2. of the statutes is amended to read:

25.187 (2) (c) 2. In addition to the amount assessed under subd. 1., the board may assess the funds for which the board has management responsibility for any fiscal year up to an additional 0.0025% of the total average market value of the assets of the funds on at the end of each month between November 30 and April 30 of the preceding fiscal year if the board notifies the joint committee on finance in writing of the proposed assessment. If the cochairpersons of the committee do not notify the board that the committee has scheduled a meeting for the purpose of reviewing the proposed assessment within 14 working days after the date of the board's notification, the board may make the assessment. If, within 14 working days after the date of the board's notification, the cochairpersons of the committee notify the board that the committee has scheduled a meeting for the purpose of reviewing the proposed assessment, the board may make the assessment only upon approval of the committee.

25,528w Section 528w. 25.187 (2) (c) 3. b. of the statutes is amended to read:

25.187 (2) (c) 3. b. Annually, no later than June 15, certify to the department of administration and to the joint committee on finance the total average market value of the assets of the funds on at the end of each month between November 30 and April 30 of the current fiscal year.

25,529g Section 529g. 25.36 (1) of the statutes, as affected by 2005 Wisconsin Act .... (Assembly Bill 210), is amended to read:

25.36 (1) Except as provided in sub. (2), all moneys appropriated or transferred by law shall constitute the veterans trust fund which shall be used for the lending of money to the mortgage loan repayment fund under s 45.37 (5) (a) 12. and for the veterans programs under ss. 20.485 (2) (m), (mn), (tm), (u), (v), (vo), (vy), (vz), (w), (z), and (zm), 45.03 (19), 45.07, 45.20, 45.21, 45.40 (1), 45.41, 45.42, 45.43, and 45.82 and administered by the department of veterans affairs, including all moneys received from the federal government for the benefit of veterans or their dependents; all moneys paid as interest on and repayment of loans under the post-war rehabilitation fund; soldiers rehabilitation fund, veterans housing funds as they existed prior to July 1, 1961; all moneys paid as interest on and repayment of loans under this fund; all moneys paid as expenses for, interest on, and repayment of veterans trust fund stabilization loans under s. 45.356, 1995 stats.; all moneys paid as expenses for, interest on, and repayment of veterans personal loans; the net proceeds from the sale of mortgaged properties related to veterans personal loans; all mortgages issued with the proceeds of the 1981 veterans home loan revenue bond issuance purchased with moneys in the veterans trust fund; all moneys received from the state investment board under s. 45.42 (8) (b); all moneys received from the veterans mortgage loan repayment fund under s. 45.37 (7) (a) and (c); and all gifts of money received by the board of veterans affairs for the purposes of this fund.

25,529m Section 529m. 25.40 (1) (a) 4g. of the statutes is created to read:

25.40 (1) (a) 4g. Fees collected under s. 341.14 (6r) (b) 9. that are deposited in the veterans trust fund.

25,531m Section 531m. 25.40 (2) (b) 19r. of the statutes is repealed.

25,532 Section 532. 25.40 (2) (b) 19rm. of the statutes is created to read:

25.40 (2) (b) 19rm. Section 20.380 (1) (w).

25,533g Section 533g. 25.40 (2) (b) 27. of the statutes is created to read:

25.40 (2) (b) 27. Section 20.855 (4) (v).

25,533r Section 533r. 25.40 (2) (b) 27. of the statutes, as created by 2005 Wisconsin Act .... (this act), is repealed.

25,535 Section 535. 25.50 (7) of the statutes is amended to read:

25.50 (7) Reimbursement of expenses. The state treasurer shall deduct quarterly a maximum of 0.25% of the amount of income received monthly from the earnings of the fund during the preceding calendar quarter for month an amount sufficient to cover all actual and necessary expenses incurred by the state in administering the fund in the preceding calendar month, except that in no fiscal year may the state treasurer deduct an amount exceeding the amount appropriated under s. 20.585 (1) (g) for that fiscal year.

25,535m Section 535m. 25.55 (intro.) of the statutes is repealed.

25,535p Section 535p. 25.55 (3) of the statutes is renumbered 149.11 (2) (a) 1. and amended to read:

149.11 (2) (a) 1. Insurer assessments under ch. 149 s. 149.13, paid to the board under s. 20.145 (5) (g).

25,535r Section 535r. 25.55 (4) of the statutes is renumbered 149.11 (2) (a) 2. and amended to read:

149.11 (2) (a) 2. Premiums paid by eligible persons under ch. 149.

25,536 Section 536. 25.60 of the statutes is amended to read:

25.60 Budget stabilization Taxpayer protection fund. There is created a separate nonlapsible trust fund designated as the budget stabilization taxpayer protection fund, consisting of moneys transferred to the fund from the general fund under ss. 13.41 (3), 13.48 (14) (c), 16.518 (3), and 16.72 (4) (b), and 16.848.

25,537 Section 537. 25.77 (3) of the statutes is amended to read:

25.77 (3) All moneys received under s. 50.14 (2) from assessments on licensed beds of facilities except $14,300,000 in fiscal year 2003-04 and $13,800,000 in fiscal year 2004-05 and, beginning July 1, 2005, 45% in each fiscal year .