452.13 (2) (d) The department of commerce administration is the beneficial owner of the interest accruing to the interest-bearing common trust account, minus any service charges or fees.
32,3271
Section
3271. 452.13 (2) (e) 1. of the statutes is amended to read:
452.13 (2) (e) 1. Annually, before February 1, remit to the department of commerce administration the total interest or dividends, minus service charges or fees, earned on the average daily balance in the interest-bearing common trust account during the 12 months ending on the previous December 31. A depository institution is not required to remit any amount if the total interest or dividends for that period is less than $10 before any deduction for service charges or fees.
32,3272
Section
3272. 452.13 (2) (e) 2. of the statutes is amended to read:
452.13 (2) (e) 2. When the interest remittance is sent, furnish to the department of commerce administration and to the broker maintaining the interest-bearing common trust account a statement that includes the name of the broker for whose account the remittance is made, the rate of interest applied, the amount of service charges or fees deducted, if any, and the account balance for the period that the statement covers.
32,3273
Section
3273. 452.13 (2) (f) 2. of the statutes is amended to read:
452.13 (2) (f) 2. May not assess a service charge or fee for an interest-bearing common trust account against the department of commerce administration.
32,3274
Section
3274. 452.13 (2) (f) 3. of the statutes is amended to read:
452.13 (2) (f) 3. May deduct a service charge or fee from the interest earned by an interest-bearing common trust account, and if a balance remains, may deduct the remaining charge or fee from the interest earned on any other interest-bearing common trust account maintained in that depository institution, before remitting interest to the department of commerce administration.
32,3274m
Section 3274m. 452.13 (5) of the statutes is amended to read:
452.13 (5) Rules. In consultation with the department of regulation and licensing safety and professional services, the department of commerce administration shall promulgate rules necessary to administer this section.
32,3276
Section
3276. 452.14 (1) of the statutes is amended to read:
452.14 (1) The department board shall, upon motion of the board secretary or his or her designee or upon its own determination, conduct investigations and, as appropriate, may hold hearings and make findings, if the board or the department receives credible information that a broker, salesperson, or time-share salesperson has violated this chapter or any rule promulgated under this chapter.
32,3277
Section
3277. 452.14 (2) of the statutes is amended to read:
452.14 (2) The department shall present the findings of any investigation of a licensee or registrant to the board for its consideration. The department shall upon motion of the board, and board may, upon its own determination, commence disciplinary proceedings on any matter under investigation concerning a licensee or registrant. No investigation of a licensee or registrant may be closed without motion of the board.
32,3278
Section
3278. 452.14 (3) (L) of the statutes is amended to read:
452.14 (3) (L) Violated any provision of this chapter or any rule promulgated under this chapter;
32,3279
Section
3279. 452.17 (2) of the statutes is amended to read:
452.17 (2) Any person who engages in or follows the business or occupation of, or advertises or holds himself or herself out as or acts temporarily or otherwise as, a time-share salesperson in this state without being registered with the department board shall be prosecuted by the district attorney in the county where the violation occurs and may be fined not less than $25 nor more than $200 or imprisoned not less than 10 days nor more than 6 months or both.
32,3280
Section
3280. 452.22 (2) of the statutes is amended to read:
452.22 (2) The certificate of the secretary chairperson of the board or his or her designee to the effect that a specified individual or business entity is not or was not on a specified date the holder of a broker's, salesperson's, or time-share salesperson's license or registration, or that a specified license or registration was not in effect on a date specified, or as to the issuance, limitation, suspension, or revocation of any license or registration or the reprimand of any license or registration holder thereof, the filing or withdrawal of any application or its existence or nonexistence, is prima facie evidence of the facts therein stated in the certificate for all purposes in any action or proceedings.
32,3281
Section
3281. 462.01 (3) of the statutes is amended to read:
462.01 (3) "Department" means the department of regulation and licensing safety and professional services.
32,3283
Section
3283. 551.403 (2) (a) 2. of the statutes is amended to read:
551.403 (2) (a) 2. Institutional investors, except any institutional investor described in s. 551.102 (11) (k), (m), or (o).
32,3284
Section
3284. 551.403 (2) (a) 2m. of the statutes is amended to read:
551.403 (2) (a) 2m. Accredited investors as defined in Rule 501 (a) (1), (2), or (3)
, (7) or (8) adopted under the Securities Act of 1933.
32,3285
Section
3285. Chapter 560 (title) of the statutes is repealed.
32,3286
Section
3286. Subchapter I (title) of chapter 560 [precedes 560.001] of the statutes is repealed.
32,3287
Section
3287. 560.001 of the statutes is repealed.
32,3288
Section
3288. 560.01 (title), (1) and (2) of the statutes are repealed.
32,3289
Section
3289. 560.01 (3) of the statutes is renumbered 238.04 (14) and amended to read:
238.04 (14) Foreign office agreements. The department may enter Enter into agreements regarding compensation, space, and other administrative matters as are necessary to operate departmental offices in other states and foreign countries. Such agreements shall be subject to the approval of the secretary of administration.
32,3290
Section
3290. 560.02 of the statutes is repealed.
32,3291
Section
3291. 560.03 (title) of the statutes is repealed.
32,3292
Section
3292. 560.03 (intro.) of the statutes is repealed.
32,3293
Section
3293. 560.03 (1) of the statutes is repealed.
32,3294
Section
3294. 560.03 (2) of the statutes is repealed.
32,3295
Section
3295. 560.03 (3) of the statutes is repealed.
32,3296
Section
3296. 560.03 (4) of the statutes is repealed.
32,3297
Section
3297. 560.03 (4m) of the statutes is repealed.
32,3298
Section
3298. 560.03 (5) of the statutes is repealed.
32,3299
Section
3299. 560.03 (6) of the statutes is repealed.
32,3299m
Section 3299m. 560.03 (7) of the statutes is repealed.
32,3300
Section
3300. 560.03 (8) of the statutes is repealed.
32,3301
Section
3301. 560.03 (9) of the statutes is repealed.
32,3302
Section
3302. 560.03 (10) of the statutes is repealed.
32,3303
Section
3303. 560.03 (11) of the statutes is repealed.
32,3304
Section
3304. 560.03 (16) of the statutes is repealed.
32,3305
Section
3305. 560.03 (17) of the statutes is renumbered 238.25 and amended to read:
238.25 Assistance to loan recipients. Assist The corporation shall assist new businesses and small businesses receiving economic development loans under s. 234.65 (1) (a) or the assistance of the Wisconsin Housing and Economic Development Authority in locating sources of venture capital and in obtaining the state and federal licenses and permits necessary for business operations.
32,3306
Section
3306. 560.03 (18) of the statutes is repealed.
32,3307
Section
3307. 560.03 (19) of the statutes is repealed.
32,3308
Section
3308. 560.03 (20) of the statutes is repealed.
32,3309
Section
3309. 560.03 (21) of the statutes is repealed.
32,3310
Section
3310. 560.03 (22) of the statutes is repealed.
32,3311
Section
3311. 560.03 (23) of the statutes is repealed.
32,3312
Section
3312. 560.03 (25) of the statutes is repealed.
32,3313
Section
3313. 560.03 (26) of the statutes is repealed.
32,3314
Section
3314. 560.031 of the statutes is repealed.
32,3315
Section
3315. 560.032 of the statutes is renumbered 238.10 and amended to read:
238.10 Allocation of volume cap on tax-exempt bonds. (1) Allocation. The
department, by rule, corporation shall establish under
26 USC 146 and administer a system for the allocation of the volume cap on the issuance of private activity bonds, as defined under
26 USC 141 (a), among all municipalities, as defined in s. 67.01 (5), and any corporation formed on behalf of those municipalities, and among this state, the Wisconsin Health and Educational Facilities Authority, the Wisconsin Aerospace Authority, and the Wisconsin Housing and Economic Development Authority.
(2) Amendment to allocation. At any time prior to December 31 in any year, the
department corporation may
promulgate adopt rules to revise the allocation system established for that year under sub. (1), except that any revision under this subsection does not apply to any allocation under which the recipient of that allocation has adopted a resolution authorizing the issuance of a private activity bond, as defined in
26 USC 141 (a).
(3) Conditions. The department corporation may establish, by rule, any procedure for, and place any condition upon, the granting of an allocation under this section which the department corporation deems to be in the best interest of the state including, but not limited to, a requirement that a cash deposit, at a rate established by the department in the rules corporation, be a condition for an allocation.
(4) Certification. If the
secretary corporation receives notice of the issuance of a bond under an allocation under subs. (1) to (3), the
secretary corporation shall certify that that bond meets the requirements of
26 USC 146.
32,3316
Section
3316. 560.033 of the statutes is repealed.
32,3317
Section
3317. 560.0335 of the statutes is renumbered 16.283.
32,3318
Section
3318. 560.034 of the statutes is renumbered 238.11, and 238.11 (1), (2), (3) and (5) (intro.), as renumbered, are amended to read:
238.11 (1) The department corporation shall prescribe the notice forms to be used under ss. 66.1103 (4m) (a) 1. and 234.65 (3) (a). The department corporation shall include on the forms a requirement for information on the number of jobs the person submitting the notice expects to be eliminated, created, or maintained on the project site and elsewhere in this state by the project which is the subject of the notice. The department
corporation shall prescribe the forms to be used under ss. 66.1103 (4m) (b) and 234.65 (3r).
(2) If the department corporation receives a notice under s. 66.1103 (4m) (a), the department corporation shall estimate, no later than 20 days after receipt of the notice, whether the project which that is the subject of the notice is expected to eliminate, create, or maintain jobs on the project site and elsewhere in this state and the net number of jobs expected to be eliminated, created, or maintained as a result of the project.
(3) If the department corporation receives a notice under s. 234.65 (3) (a), the department corporation shall estimate, no later than 20 days after receipt of the notice, whether the project which is the subject of the notice is expected to eliminate, create, or maintain jobs on the project site and elsewhere in this state and the net number of jobs expected to be eliminated, created, or maintained as a result of the project.
(5) (intro.) The department corporation shall issue an estimate made:
32,3319
Section
3319. 560.035 of the statutes is renumbered 16.285.
32,3320
Section
3320. 560.036 of the statutes is renumbered 16.287.
32,3321m
Section 3321m. 560.037 of the statutes is repealed.
32,3322
Section
3322. 560.04 of the statutes is repealed.
32,3323
Section
3323. 560.045 of the statutes is repealed.
32,3324
Section
3324. 560.047 of the statutes is repealed.
32,3325
Section
3325. 560.05 of the statutes is repealed.
32,3326
Section
3326. 560.07 of the statutes is repealed.
32,3327
Section
3327. 560.075 of the statutes is renumbered 238.12, and 238.12 (2), as renumbered, is amended to read:
238.12 (2) The department corporation may not award a grant or loan under this chapter to a person or certify a person to receive tax benefits unless the department corporation enters into an agreement with the person that requires the person to repay the grant, loan, or tax benefits if, within 5 years after receiving the grant or loan or being certified to receive tax benefits, the person ceases to conduct in this state the economic activity for which the person received the grant or loan or for which the person was certified to receive tax benefits and commences substantially the same economic activity outside this state.
32,3328
Section
3328. 560.08 (1), (2) (intro.), (a), (b), (c), (d), (e), (f), (g), (h), (i) and (j) of the statutes are repealed.
32,3329
Section
3329. 560.08 (2) (m) of the statutes is renumbered 238.26 and amended to read:
238.26 Report to investment board. No later than September 30 of each even-numbered year, the corporation shall submit to the investment board a report describing the types of investments in businesses in this state which that will have the greatest likelihood of enhancing economic development in this state.
32,3330c
Section 3330c. 560.081 (1) and (2) (intro.) and (a) of the statutes are renumbered 238.127 (2) (intro.) and (a), and 238.127 (2) (intro.), as renumbered, is amended to read:
238.127 (2) (intro.) The department
corporation shall establish and administer a state main street program to coordinate state and local participation in programs offered by the national main street center, created by the national trust for historic preservation, to assist municipalities in planning, managing and implementing programs for the revitalization of business areas. The department corporation shall do all of the following:
32,3330g
Section 3330g. 560.081 (2) (b) of the statutes is repealed.
32,3330m
Section 3330m. 560.081 (2) (c) to (h) of the statutes are renumbered 238.127 (2) (c) to (h), and 238.127 (2) (c) (intro.), (e), (f) 4. and (h), as renumbered, are amended to read:
