Amendment AA2-ASA1-AB133

AB133-ASA1-AA2,405,15 (9) Ownership of subsidiaries. A subsidiary that engages in an activity under this section may be owned jointly, with one or more other financial institutions, individuals or entities.

AB133-ASA1-AA2,405,17 222.0415 Trust powers. Subject to rules of the division, a universal bank may exercise trust powers in accordance with s. 221.0316.

AB133-ASA1-AA2, s. 2347a Section 2347a. 223.105 (3) (a) of the statutes is amended to read:

AB133-ASA1-AA2,405,25 223.105 (3) (a) To assure compliance with such rules as may be established under s. 220.04 (7) the division of banking, the office of credit unions and the division of savings and loan institutions shall, at least once every 18 months, examine the fiduciary operations of each organization which is under its respective jurisdiction and is subject to examination under sub. (2). If a particular organization subject to examination under sub. (2) is not otherwise under the jurisdiction of one of the foregoing agencies, such examination shall be conducted by the division of banking.

AB133-ASA1-AA2, s. 2348a Section 2348a. 223.105 (4) of the statutes is amended to read:

AB133-ASA1-AA2,406,11 223.105 (4) Notice of fiduciary operation. Except for those organizations licensed under ch. 221 or this chapter, any organization engaged in fiduciary operations as defined in this section shall, as required by rule, notify the division of banking, the office of credit unions or the division of savings and loan institutions of that fact, directing the notice to the agency then exercising regulatory authority over the organization or, if there is none, to the division of banking. Any organization which intends to engage in fiduciary operations shall, prior to engaging in such operations, notify the appropriate agency of this intention. The notifications required under this subsection shall be on forms and contain information required by the rules promulgated by the division of banking.

AB133-ASA1-AA2, s. 2349a Section 2349a. 223.105 (5) of the statutes is amended to read:

AB133-ASA1-AA2,406,19 223.105 (5) Enforcement remedy. The division of banking or the division of savings and loan institutions or office of credit unions shall upon the failure of such organization to submit notifications or reports required under this section or otherwise to comply with the provisions of this section, or rules established by the division of banking under s. 220.04 (7), upon due notice, order such defaulting organization to cease and desist from engaging in fiduciary activities and may apply to the appropriate court for enforcement of such order.

AB133-ASA1-AA2, s. 2350a Section 2350a. 223.105 (6) of the statutes is amended to read:

AB133-ASA1-AA2,407,2 223.105 (6) Sunset. Except for an organization regulated by the office of credit unions or the division of savings and loan institutions or an organization authorized by the division of banking to operate as a bank or trust company under ch. 221 or this chapter, an organization may not begin activity as a fiduciary operation under this section after May 12, 1992. An organization engaged in fiduciary operations under this section on May 12, 1992, may continue to engage in fiduciary operations after that date.".

AB133-ASA1-AA2,407,3 895. Page 1193, line 20: delete lines 20 to 25.

AB133-ASA1-AA2,407,4 896. Page 1194, line 1: delete lines 1 to 3.

AB133-ASA1-AA2,407,5 897. Page 1194, line 9: after that line insert:

AB133-ASA1-AA2,407,6 " Section 2353sm. 227.01 (13) (zu) of the statutes is created to read:

AB133-ASA1-AA2,407,7 227.01 (13) (zu) Establishes standards under subch. IX of ch. 254.".

AB133-ASA1-AA2,407,8 898. Page 1194, line 9: after that line insert:

AB133-ASA1-AA2,407,9 " Section 2353t. 227.01 (13) (ym) of the statutes is repealed.

AB133-ASA1-AA2, s. 2353u Section 2353u. 227.01 (13) (zi) of the statutes is repealed.".

AB133-ASA1-AA2,407,11 899. Page 1194, line 10: delete lines 10 to 13.

AB133-ASA1-AA2,407,12 900. Page 1194, line 13: after that line insert:

AB133-ASA1-AA2,407,13 " Section 2355mm. 227.14 (1s) of the statutes is created to read:

AB133-ASA1-AA2,407,18 227.14 (1s) Exception; preparation of certain rules based on federal food code. Notwithstanding sub. (1), if the department of agriculture, trade and consumer protection or the department of health and family services prepares a proposed rule based on the model food code published by the federal food and drug administration, the proposed rule may be in the format of the model food code.".

AB133-ASA1-AA2,407,19 901. Page 1194, line 20: after that line insert:

AB133-ASA1-AA2,407,20 " Section 2357a. 227.52 (5) of the statutes is amended to read:

AB133-ASA1-AA2,407,21 227.52 (5) Decisions of the division of savings and loan institutions.

AB133-ASA1-AA2, s. 2358a Section 2358a. 227.53 (1) (b) 4. of the statutes is amended to read:

AB133-ASA1-AA2,408,4 227.53 (1) (b) 4. The savings and loan review board, the division of savings and loan institutions, except if the petitioner is the division of savings and loan institutions, the prevailing parties before the savings and loan review board shall be the named respondents.

AB133-ASA1-AA2, s. 2359a Section 2359a. 227.53 (1) (b) 5. of the statutes is amended to read:

AB133-ASA1-AA2,408,9 227.53 (1) (b) 5. The savings bank review board, the division of savings and loan institutions, except if the petitioner is the division of savings and loan institutions, the prevailing parties before the savings bank review board shall be the named respondents.".

AB133-ASA1-AA2,408,10 902. Page 1194, line 20: after that line insert:

AB133-ASA1-AA2,408,11 " Section 2359f. 229.41 (8m) of the statutes is created to read:

AB133-ASA1-AA2,408,12 229.41 (8m) "Labor organization" has the meaning given in s. 5.02 (8m).".

AB133-ASA1-AA2,408,13 903. Page 1195, line 5: after that line insert:

AB133-ASA1-AA2,408,14 " Section 2359j. 229.44 (4) (d) of the statutes is amended to read:

AB133-ASA1-AA2,408,19 229.44 (4) (d) Enter into contracts. All contracts, the estimated costs of which exceed $30,000, are subject to s. 229.46 (8), except contracts subject to s. 229.46 (5) and contracts for personal or professional services,. The contracts shall be subject to bid and shall be awarded to the lowest qualified and competent bidder. The district may reject any bid that is submitted under this paragraph.

AB133-ASA1-AA2, s. 2359k Section 2359k. 229.46 (8) of the statutes is created to read:

AB133-ASA1-AA2,408,23 229.46 (8) (a) The district shall ensure that the specifications for bids and contracts for construction projects entered into under this subchapter do not do any of the following:

AB133-ASA1-AA2,409,3 1. Require any bidder, contractor or subcontractor to enter into or to adhere to an agreement with any labor organization concerning services to be performed in relation to the project or a related project.

AB133-ASA1-AA2,409,6 2. Discriminate against any bidder, contractor or subcontractor for refusing to enter into or continue to adhere to an agreement with any labor organization concerning services to be performed in relation to the project or a related project.

AB133-ASA1-AA2,409,9 3. Require any bidder, contractor or subcontractor to enter into, continue to adhere to or enforce any agreement that requires its employes, as a condition of employment, to do any of the following:

AB133-ASA1-AA2,409,10 a. Become members of or become affiliated with a labor organization.

AB133-ASA1-AA2,409,13 b. Make payments to a labor organization, without the authorization of the employes, exceeding the employes' proportionate share of the cost of collective bargaining, contract administration and grievance adjustment.

AB133-ASA1-AA2,409,18 (b) Any taxpayer of this state or any other person who enters into contracts or subcontracts for building construction services may bring an action to require compliance with par (a). If that person prevails in his or her action, the court shall award to that person reasonable actual attorney fees in addition to other costs allowed to prevailing parties under ch. 814.

AB133-ASA1-AA2, s. 2359L Section 2359L. 229.65 (6m) of the statutes is created to read:

AB133-ASA1-AA2,409,20 229.65 (6m) "Labor organization" has the meaning given in s. 5.02 (8m).

AB133-ASA1-AA2, s. 2359m Section 2359m. 229.68 (4) (d) of the statutes is amended to read:

AB133-ASA1-AA2,410,2 229.68 (4) (d) Enter into contracts, subject to s. 229.682 (9) and to such standards as may be established by the district board. The district board may award any such contract for any combination or division of work it designates and, subject to s. 229.682 (9), may consider any factors in awarding a contract, including price, time for completion of work and qualifications and past performance of a contractor.

AB133-ASA1-AA2, s. 2359n Section 2359n. 229.682 (9) of the statutes is created to read:

AB133-ASA1-AA2,410,6 229.682 (9) Contracts with labor organizations. (a) The district shall ensure that the specifications for bids and contracts for construction projects entered into under this subchapter do not do any of the following:

AB133-ASA1-AA2,410,9 1. Require any bidder, contractor or subcontractor to enter into or to adhere to an agreement with any labor organization concerning services to be performed in relation to the project or a related project.

AB133-ASA1-AA2,410,12 2. Discriminate against any bidder, contractor or subcontractor for refusing to enter into or continue to adhere to an agreement with any labor organization concerning services to be performed in relation to the project or a related project.

AB133-ASA1-AA2,410,15 3. Require any bidder, contractor or subcontractor to enter into, continue to adhere to or enforce any agreement that requires its employes, as a condition of employment, to do any of the following:

AB133-ASA1-AA2,410,16 a. Become members of or become affiliated with a labor organization.

AB133-ASA1-AA2,410,19 b. Make payments to a labor organization, without the authorization of the employes, exceeding the employes' proportionate share of the cost of collective bargaining, contract administration and grievance adjustment.

AB133-ASA1-AA2,410,24 (b) Any taxpayer of this state or any other person who enters into contracts or subcontracts for building construction services may bring an action to require compliance with par. (a). If that person prevails in his or her action, the court shall award to that person reasonable actual attorney fees in addition to other costs allowed to prevailing parties under ch. 814.".

AB133-ASA1-AA2,411,2 904. Page 1195, line 6: delete the material beginning with that line and ending with page 1196, line 13.

AB133-ASA1-AA2,411,3 905. Page 1197, line 3: delete lines 3 to 13 and substitute:

AB133-ASA1-AA2,411,4 " Section 2359ts. 230.046 (4) of the statutes is amended to read:

AB133-ASA1-AA2,411,8 230.046 (4) Records of training program participation. Each agency shall adopt a standardized system for measuring, recording, reporting, accumulating and recognizing employe participation in its training program. The system may not take effect until approved by the secretary.

AB133-ASA1-AA2, s. 2359tw Section 2359tw. 230.046 (5) (intro.) of the statutes is amended to read:

AB133-ASA1-AA2,411,12 230.046 (5) Initiation of programs. (intro.) Unless otherwise empowered by law, any agency desiring to initiate a training program under sub. (3) shall certify to the secretary ensure that:

AB133-ASA1-AA2, s. 2359uc Section 2359uc. 230.046 (10) of the statutes is repealed and recreated to read:

AB133-ASA1-AA2,411,15 230.046 (10) Department functions. The department may do all of the following:

AB133-ASA1-AA2,411,17 (a) Conduct off-the-job employe development and training programs relating to functions under this chapter or subch. V of ch. 111.

AB133-ASA1-AA2,411,19 (b) Charge fees to state agencies whose employes participate in employe development and training programs under this subsection.

AB133-ASA1-AA2, s. 2359uh Section 2359uh. 230.046 (11) of the statutes is repealed.".

AB133-ASA1-AA2,411,21 906. Page 1198, line 14: after that line insert:

AB133-ASA1-AA2,411,22 " Section 2362p. 230.08 (2) (pm) of the statutes is amended to read:

AB133-ASA1-AA2,411,23 230.08 (2) (pm) The All employes of the state fair park director board.".

AB133-ASA1-AA2,411,24 907. Page 1201, line 1: delete lines 1 to 5.

AB133-ASA1-AA2,412,1 908. Page 1205, line 3: after that line insert:

AB133-ASA1-AA2,412,2 " Section 2376c. 234.64 of the statutes is created to read:

AB133-ASA1-AA2,412,3 234.64 Biotechnology development finance company. (1) In this section:

AB133-ASA1-AA2,412,4 (a) "Biotechnology" means technology related to life sciences.

AB133-ASA1-AA2,412,5 (b) "Capital participation instrument" means all of the following:

AB133-ASA1-AA2,412,6 1. Any of the following or an option or other right to acquire any of the following:

AB133-ASA1-AA2,412,7 a. Common or preferred capital stock.

AB133-ASA1-AA2,412,8 b. Convertible securities.

AB133-ASA1-AA2,412,9 c. Evidences of long-term or short-term indebtedness.

AB133-ASA1-AA2,412,10 d. Warrants.

AB133-ASA1-AA2,412,11 e. Subscriptions.

AB133-ASA1-AA2,412,12 f. Partnership or membership interests.

AB133-ASA1-AA2,412,14 2. Royalties or other lawful derivations of a capital participation instrument listed under subd. 1.

AB133-ASA1-AA2,412,21 (c) "Cost of a project" means costs associated with the design, planning and implementation of a project that, in accordance with sound business and financial practices, are appropriate charges to the project. The costs may include the costs of planning and design, options to buy land, feasibility or other studies, equipment, seed money, construction, working capital and any other costs determined by the biotechnology development finance company to be necessary to the purposes of this section.

AB133-ASA1-AA2,412,23 (d) "Project" means commercial, industrial or other economic activity that is undertaken by a biotechnology company in this state.

AB133-ASA1-AA2,413,7 (2) (a) The authority may organize and maintain a biotechnology development finance company as a nonstock, nonprofit corporation under ch. 181 for the exclusive purpose of investing in new or existing biotechnology companies in this state. If the authority organizes a biotechnology development finance company, the authority shall transfer all moneys received by the authority in the transfer under 1999 Wisconsin Act .... (this act), section 9210 (2e), to the company for start-up capital and for reasonable administrative expenses of the company.

AB133-ASA1-AA2,413,11 (b) Subject to par. (c), the biotechnology development finance company may purchase a capital participation instrument of a project. The biotechnology development finance company shall ensure that all of the following apply with respect to a project before any investment is made in the project:

AB133-ASA1-AA2,413,13 1. The biotechnology company has certified that the project plans conform to all applicable environmental, zoning, building, planning or sanitation laws.

AB133-ASA1-AA2,413,15 2. There is a reasonable expectation that the biotechnology company will be successful.