2001 - 2002 LEGISLATURE
ASSEMBLY SUBSTITUTE AMENDMENT 1,
TO 2001 SENATE BILL 55
June 29, 2001 - Offered by Representatives Gard and Kaufert.
SB55-ASA1,1,2 1An Act relating to: state finances and appropriations, constituting the
2executive budget act of the 2001 legislature.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB55-ASA1, s. 1d 3Section 1d. 1.10 (title) of the statutes is amended to read:
SB55-ASA1,1,5 41.10 (title) State song, state ballad, state waltz, state dance, and state
5symbols.
SB55-ASA1, s. 1f 6Section 1f. 1.10 (1m) of the statutes is created to read:
SB55-ASA1,2,97 1.10 (1m) The Wisconsin state ballad is "Oh Wisconsin, Land of My Dreams,"
8music written by Shari A. Sarazin and lyrics written by Erma Barrett, the words to
9which are as follows: "Oh Wisconsin, land of beauty, with your hillsides and your
10plains, with your jackpine and your birch tree, and your oak of mighty frame. Land
11of rivers, lakes and valleys, land of warmth and winter snows, land of birds and

1beasts and humanity, oh Wisconsin, I love you so. Oh Wisconsin, land of my dreams.
2Oh Wisconsin, you're all I'll ever need. A little heaven here on earth could you be?
3Oh Wisconsin, land of my dreams. In the summer, golden grain fields; in the winter,
4drift of white snow; in the springtime, robins singing; in the autumn, flaming colors
5show. Oh I wonder who could wander, or who could want to drift for long, away from
6all your beauty, all your sunshine, all your sweet song? Oh Wisconsin, land of my
7dreams. Oh Wisconsin, you're all I'll ever need. A little heaven here on earth could
8you be? Oh Wisconsin, land of my dreams. And when it's time, let my spirit run free
9in Wisconsin, land of my dreams."
SB55-ASA1, s. 1g 10Section 1g. 1.10 (1r) of the statutes is created to read:
SB55-ASA1,2,2011 1.10 (1r) The Wisconsin state waltz is "The Wisconsin Waltz," music and lyrics
12written by Eddie Hansen, the words to which are as follows: "Music from heaven
13throughout the years; the beautiful Wisconsin Waltz. Favorite song of the pioneers;
14the beautiful Wisconsin Waltz. Song of my heart on that last final day, when it is time
15to lay me away. One thing I ask is to let them play the beautiful Wisconsin Waltz.
16My sweetheart, my complete heart, it's for you when we dance together; the beautiful
17Wisconsin Waltz. I remember that September, before love turned into an ember, we
18danced to the Wisconsin Waltz. Summer ended, we intended that our lives then
19would both be blended, but somehow our planning got lost. Memory now sings a
20dream song, a faded love theme song; the beautiful Wisconsin Waltz."
SB55-ASA1, s. 1j 21Section 1j. 1.10 (4) of the statutes is amended to read:
SB55-ASA1,2,2522 1.10 (4) The Wisconsin Blue Book shall include the information contained in
23this section concerning the state song, ballad, waltz, dance, beverage, tree, grain,
24flower, bird, fish, animal, domestic animal, wildlife animal, dog, insect, fossil,
25mineral, rock, and soil.
SB55-ASA1, s. 1x
1Section 1x. 5.02 (1) of the statutes is renumbered 5.02 (1c).
SB55-ASA1, s. 1 2Section 1. 7.33 (1) (c) of the statutes is amended to read:
SB55-ASA1,3,43 7.33 (1) (c) "State agency" has the meaning given under s. 20.001 (1) and
4includes an authority created under ch. 231, 232, 233 or , 234, or 237.
SB55-ASA1, s. 94f 5Section 94f. 9.10 (2) (b) of the statutes is amended to read:
SB55-ASA1,3,106 9.10 (2) (b) A recall petition for requesting the recall of a city, village, town or
7school district office officer shall contain a statement of a reason for the recall which
8is related to the official responsibilities of the official for whom removal is sought

9each cause for the recall and the specific allegations that constitute each cause. In
10this paragraph, "cause" means neglect of duty or official misconduct
.
SB55-ASA1, s. 94i 11Section 94i. 9.10 (2) (d) of the statutes is amended to read:
SB55-ASA1,4,312 9.10 (2) (d) No petition may be offered for filing for the recall of an officer unless
13the petitioner first files a registration statement under s. 11.05 (1) or (2) with the
14filing officer with whom the petition is filed. The petitioner shall append to the
15registration a statement indicating his or her intent to circulate a recall petition, the
16name of the officer for whom recall is sought and, in the case of a petition for the recall
17of a city, village, town or school district officer, a statement of a reason for the recall
18which is related to the official responsibilities of the official for whom removal is
19sought
each cause, as defined in par. (b), for the recall and the specific allegations
20that constitute each cause
. No petitioner may circulate a petition for the recall of an
21officer prior to completing registration. The last date that a petition for the recall of
22a state, congressional, legislative, judicial or county officer may be offered for filing
23is 5 p.m. on the 60th day commencing after registration. The last date that a petition
24for the recall of a city, village, town or school district officer may be offered for filing
25is 5 p.m. on the 30th day commencing after registration. After the recall petition has

1been offered for filing, no name may be added or removed. No signature may be
2counted unless the date of the signature is within the period provided in this
3paragraph.
SB55-ASA1, s. 94L 4Section 94L. 9.10 (4) (a) of the statutes is amended to read:
SB55-ASA1,5,215 9.10 (4) (a) Immediately after a petition for the recall of a city, village, town,
6or school district officer is offered for filing, the municipal clerk, board of election
7commissioners, or school district clerk shall notify the officer against whom the
8petition is filed.
Within 10 days after a the petition for the recall of a city, village,
9town or school district official,
is offered for filing, the officer against whom the
10petition is filed may file a written challenge with the municipal clerk or board of
11election commissioners or school district clerk with whom it is filed, specifying any
12alleged insufficiency. If a challenge is filed, the petitioner may file a written rebuttal
13to the challenge with the clerk or board of election commissioners within 5 days after
14the challenge is filed. If a rebuttal is filed, the officer against whom the petition is
15filed may file a reply to any new matter raised in the rebuttal within 2 days after the
16rebuttal is filed. Within 14 days after the expiration of the time allowed for filing a
17reply to a rebuttal, the clerk or board of election commissioners shall file the
18certificate or an amended certificate. Within 31 days after the petition is offered for
19filing, the clerk or board of election commissioners shall determine by careful
20examination of the face of the petition whether the petition is sufficient and shall so
21state in a certificate attached to the petition. If the petition is found to be insufficient,
22the certificate shall state the particulars creating the insufficiency. The petition may
23be amended to correct any insufficiency within 5 days following the affixing of the
24original certificate. Within 2 days after the offering of the amended petition for filing,
25the clerk or board of election commissioners shall again carefully examine the face

1of the petition to determine sufficiency and shall attach to the petition a certificate
2stating the findings. Immediately upon finding an original or amended petition
3sufficient, except in cities over 500,000 population, the municipal clerk or, school
4district clerk, or board of election commissioners shall notify, in writing, the officer
5against whom the petition is filed. Within 3 days following receipt of the notification,
6the officer shall inform the municipal clerk, school district clerk, or board of election
7commissioners, in writing, as to whether the officer contests the petition. If the
8officer fails to inform the municipal clerk, school district clerk, or board of election
9commissioners within 3 days following receipt of the notification, or if the officer does
10not contest the petition, the municipal clerk, school district clerk, or board of election
11commissioners shall issue a certificate declaring that an election will be held under
12this section. If the certificate is issued by the municipal clerk, the municipal clerk
13shall immediately transmit the petition and certificate to the governing body of the
14municipality. If the certificate is issued by the school district clerk, the school district
15clerk shall immediately transmit the petition and certificate to the school board. If
16the officer contests the petition, the municipal clerk, school district clerk, or board
17of election commissioners shall
transmit the petition to the governing body or to the
18school board. Immediately upon finding an original or amended petition sufficient,
19in cities over 500,000 population, the board of election commissioners shall file the
20petition in its office
circuit court for the county in which the office of the clerk or board
21of election commissioners is located
.
SB55-ASA1, s. 94p 22Section 94p. 9.10 (4) (b) and (c) of the statutes are created to read:
SB55-ASA1,6,1523 9.10 (4) (b) Within 10 days after receipt of a petition under par. (a), the circuit
24court shall determine, after hearing, whether the allegations in the petition are true
25and, if true, whether the allegations constitute cause, as defined in sub. (2) (b), for

1the recall. The clerk of court shall notify the officer for whom the recall is sought of
2the hearing date. The officer and the person who offers the petition for filing may
3appear by counsel and the court may take testimony with respect to the petition. If
4the circuit court determines that the allegations in the petition are true and
5constitute cause, as defined in sub. (2) (b), for the recall, the court shall issue a
6certificate directing that an election be held under this section. If the petition
7concerns a city, village, or town office, the court shall transmit the petition and
8certificate to the governing body of the city, village, or town, except that in cities over
9500,000 population the court shall transmit the petition and certificate to the board
10of election commissioners. If the petition concerns a school district office, the court
11shall transmit the petition and certificate to the school board. Upon receiving a
12petition and certificate, the governing body, board of election commissioners, or
13school board shall file the petition and certificate in its office. If the court determines
14that the allegations in the petition are not true or do not constitute cause, as defined
15in sub. (2) (b), for the recall, the court may not issue the certificate.
SB55-ASA1,6,2316 (c) Any party aggrieved by a circuit court determination under par. (b) may
17appeal to the court of appeals within the time period specified in s. 808.04 (2). An
18appeal under this paragraph shall be given precedence over other matters not
19accorded similar precedence by law. The appeal shall stay the holding of a recall
20primary and election under a certificate issued by the circuit court under par. (b)
21until the court of appeals determines the validity of the certificate, but other acts
22required to be undertaken to prepare for the primary and election shall proceed
23during the pendency of the appeal.
SB55-ASA1, s. 94s 24Section 94s. 9.10 (4) (d) of the statutes is amended to read:
SB55-ASA1,7,6
19.10 (4) (d) The governing body, school board or board of election
2commissioners, upon receiving the a certificate from the circuit court under par. (b)
3or upon receiving or issuing a certificate under par. (a),
shall call an election to be held
4on the Tuesday of the 6th week commencing after the date of the certificate. If
5Tuesday is a legal holiday, the recall election shall be held on the first day after
6Tuesday which is not a legal holiday.
SB55-ASA1, s. 2 7Section 2. 13.101 (4) of the statutes is amended to read:
SB55-ASA1,7,228 13.101 (4) The committee may transfer between appropriations and programs
9if the committee finds that unnecessary duplication of functions can be eliminated,
10more efficient and effective methods for performing programs will result or
11legislative intent will be more effectively carried out because of such transfer, if
12legislative intent will not be changed as the result of such transfer and the purposes
13for which the transfer is requested have been authorized or directed by the
14legislature, or to implement s. 16.847 (8) (b) 3. The authority to transfer between
15appropriations includes the authority to transfer between 2 fiscal years of the same
16biennium, between 2 appropriations of the same agency and between an
17appropriation of one agency and an appropriation of a different agency. No transfer
18between appropriations or programs may be made to offset deficiencies arising from
19the lack of adequate expenditure controls by a department, board, institution,
20commission or agency. The authority to transfer between appropriations shall not
21include the authority to transfer from sum sufficient appropriations as defined under
22s. 20.001 (3) (d) to other types of appropriations.
SB55-ASA1, s. 3 23Section 3. 13.101 (6) (a) of the statutes is amended to read:
SB55-ASA1,8,1724 13.101 (6) (a) As an emergency measure necessitated by decreased state
25revenues and to prevent the necessity for a state tax on general property, the

1committee may reduce any appropriation made to any board, commission,
2department, or the University of Wisconsin System , or to any other state agency or
3activity, by such amount as it deems feasible, not exceeding 25% of the
4appropriations, except appropriations made by ss. 20.255 (2) (ac), (bc), (bh), (cg), and
5(cr) and (q), 20.395 (1), (2) (cq), (eq) to (ex) (fq) to (fx), and (gq) to (gx), (3), (4) (aq) to
6(ax), and (6) (aq) and (ar), 20.435 (6) (a) and (7) (da), and 20.445 (3) (a) and (dz) or for
7forestry purposes under s. 20.370 (1), or any other moneys distributed to any county,
8city, village, town, or school district. Appropriations of receipts and of a sum
9sufficient shall for the purposes of this section be regarded as equivalent to the
10amounts expended under such appropriations in the prior fiscal year which ended
11June 30. All functions of said state agencies shall be continued in an efficient
12manner, but because of the uncertainties of the existing situation no public funds
13should be expended or obligations incurred unless there shall be adequate revenues
14to meet the expenditures therefor. For such reason the committee may make
15reductions of such appropriations as in its judgment will secure sound financial
16operations of the administration for said state agencies and at the same time
17interfere least with their services and activities.
SB55-ASA1, s. 4 18Section 4. 13.101 (14) of the statutes is amended to read:
SB55-ASA1,8,2219 13.101 (14) With the concurrence of the joint committee on information policy
20and technology, direct the department of administration electronic government to
21report to the committee concerning any specific information technology system
22project in accordance with s. 13.58 (5) (b) 4.
SB55-ASA1, s. 100m 23Section 100m. 13.101 (16) of the statutes is created to read:
SB55-ASA1,9,3
113.101 (16) Annually, on June 15, beginning in 2004, the committee shall
2transfer from the permanent endowment fund to the general fund an amount equal
3to the amount calculated by the investment board under s. 25.17 (16).
SB55-ASA1, s. 5 4Section 5. 13.123 (1) (a) 1. of the statutes is amended to read:
SB55-ASA1,9,235 13.123 (1) (a) 1. Any member of the legislature who has signified, by affidavit
6filed with the department of administration, the necessity of establishing a
7temporary residence at the state capital for the period of any regular or special
8legislative session shall be entitled to an allowance for expenses incurred for food and
9lodging for each day that he or she is in Madison on legislative business, but not
10including any Saturday or Sunday unless the legislator is in actual attendance on
11such day at a session of the legislature or a meeting of a standing committee of which
12the legislator is a member. The amount of the allowance for each biennial session
13shall be established under s. 20.916 (8) 90% of the per diem rate for travel for federal
14government business within the city of Madison, as established by the federal
15general services administration. For the purpose of determining the amount of the
16allowance, the secretary of employment relations shall certify to the chief clerk of
17each house the federal per diem rate in effect on December 1, or the first business day
18thereafter if December 1 is not a business day, in each even-numbered year
. Each
19legislator shall file an affidavit with the chief clerk of his or her house certifying the
20specific dollar amount within the authorized allowance the member wishes to
21receive. Such affidavit, when filed, shall remain in effect for the biennial session,
22except that a new affidavit may be filed for any month following an adjustment in
23the amount of the authorized allowance under s. 20.916 (8)
.
SB55-ASA1, s. 6 24Section 6. 13.40 of the statutes is created to read:
SB55-ASA1,10,2
113.40 Limitation on state appropriations from general purpose
2revenue. (1)
In this section:
SB55-ASA1,10,43 (a) "Fiscal biennium" means a 2-year period beginning on July 1 of an
4odd-numbered year.
SB55-ASA1,10,65 (b) "General purpose revenue" has the meaning given for "general purpose
6revenues" in s. 20.001 (2) (a).
SB55-ASA1,10,10 7(2) Except as provided in sub. (3), the amount appropriated from general
8purpose revenue for each fiscal biennium, excluding any amount under an
9appropriation specified in sub. (3) (a) to (h), as determined under sub. (4), may not
10exceed the sum of:
SB55-ASA1,10,1711 (a) The amount appropriated from general purpose revenue, excluding any
12amount under an appropriation specified in sub. (3), for the 2nd fiscal year of the
13prior fiscal biennium as determined under sub. (4), multiplied by the sum of 1.0 and
14the annual percentage change in this state's aggregate personal income, expressed
15as a decimal, for the calendar year that begins on the January 1 which immediately
16precedes the first year of the fiscal biennium, as estimated by the department of
17revenue no later than December 5 of each even-numbered year.
SB55-ASA1,10,2218 (b) The amount determined under par. (a) multiplied by the sum of 1.0 and the
19annual percentage change in this state's aggregate personal income, expressed as a
20decimal, for the calendar year that begins on the January 1 which immediately
21precedes the 2nd year of the fiscal biennium, as estimated by the department of
22revenue no later than December 5 of each even-numbered year.
SB55-ASA1,10,23 23(3) The limitation under sub. (2) does not apply to any of the following:
SB55-ASA1,10,2524 (a) An appropriation for principal repayment and interest payments on public
25debt, as defined in s. 18.01 (4), or operating notes, as defined in s. 18.71 (4).
SB55-ASA1,11,4
1(b) An appropriation to honor a moral obligation undertaken pursuant to ss.
218.61 (5), 85.25 (5), 101.143 (9m) (i), 229.50 (7), 229.74 (7), 229.830 (7), 234.15 (4),
3234.42 (4), 234.54 (4) (b), 234.626 (7), 234.93 (6), 234.932 (6), 234.933 (6), and 281.59
4(13m).
SB55-ASA1,11,65 (c) An appropriation to make a payment to the United States that the building
6commission determines to be payable under s. 13.488 (1) (m).
SB55-ASA1,11,87 (d) An appropriation contained in a bill that is enacted with approval of at least
8two-thirds of the members of each house of the legislature.
SB55-ASA1,11,109 (e) An appropriation for legal expenses and the costs of judgments, orders, and
10settlements of actions and appeals incurred by the state.
SB55-ASA1,11,1111 (f) An appropriation to make a payment for tax relief under s. 20.835 (2).
SB55-ASA1,11,1312 (g) An appropriation to make a transfer from the general fund to the budget
13stabilization fund under s. 20.875 (1) (a).
SB55-ASA1,11,1514 (h) An appropriation to make a transfer from the general fund to the tax relief
15fund under s. 20.876 (1) (a).
SB55-ASA1,11,21 16(4) For purposes of sub. (2), the department of administration shall determine
17the amount appropriated from general purpose revenue for any fiscal biennium to
18which sub. (2) applies. The department of administration shall make this
19determination no later than December 31 of each even-numbered year and shall
20include a statement of the determination in the biennial state budget report
21prepared under s. 16.46.
SB55-ASA1, s. 104m 22Section 104m. 13.48 (7) of the statutes is amended to read:
SB55-ASA1,12,1523 13.48 (7) Biennial recommendations. The building commission shall prepare
24and formally adopt recommendations for the long-range state building program on
25a biennial basis. The building commission shall not recommend any project for

1enumeration in the authorized state building program unless the commission adopts
2and provides with its recommendation a statement of the amount of the anticipated
3annual operating costs or the amount of any increased annual operating costs, plus
4the amount of any anticipated annual debt service costs, generated by the project in
5the first full year following completion, and the amount of such costs to be funded
6from each revenue source under s. 20.001 (2).
The building commission shall include
7in its report any projects proposed by the state fair park board involving a cost of not
8more than $250,000, together with the method of financing those projects proposed
9by the board, without recommendation. Unless a later date is requested by the
10building commission and approved by the joint committee on finance, the building
11commission shall, no later than the first Tuesday in April of each odd-numbered
12year, transmit the report prepared by the department of administration under s.
1316.40 (20) and the commission's recommendations for the succeeding fiscal biennium
14that require legislative approval to the joint committee on finance in the form of
15proposed legislation prepared in proper form.
SB55-ASA1, s. 7 16Section 7. 13.48 (10) (b) 3m. of the statutes is created to read:
SB55-ASA1,12,1817 13.48 (10) (b) 3m. Rehabilitation projects of the Fox River Navigational System
18Authority.
SB55-ASA1, s. 105m 19Section 105m. 13.48 (12) (b) 2. of the statutes is amended to read:
SB55-ASA1,12,2120 13.48 (12) (b) 2. A facility constructed by or for the state fair park board, if the
21cost of constructing the facility does not exceed the amount specified in sub. (3)
.
SB55-ASA1, s. 8 22Section 8. 13.48 (12) (b) 4. of the statutes is created to read:
SB55-ASA1,12,2423 13.48 (12) (b) 4. A facility constructed by or for the Fox River Navigational
24System Authority.
SB55-ASA1, s. 9 25Section 9. 13.48 (13) (a) of the statutes is amended to read:
SB55-ASA1,13,12
113.48 (13) (a) Except as provided in par. (b) or (c), every building, structure or
2facility that is constructed for the benefit of or use of the state, any state agency,
3board, commission or department, the University of Wisconsin Hospitals and Clinics
4Authority, the Fox River Navigational System Authority, or any local professional
5baseball park district created under subch. III of ch. 229 if the construction is
6undertaken by the department of administration on behalf of the district, shall be
7in compliance with all applicable state laws, rules, codes and regulations but the
8construction is not subject to the ordinances or regulations of the municipality in
9which the construction takes place except zoning, including without limitation
10because of enumeration ordinances or regulations relating to materials used,
11permits, supervision of construction or installation, payment of permit fees, or other
12restrictions.
SB55-ASA1, s. 10 13Section 10. 13.48 (14) (e) of the statutes is amended to read:
SB55-ASA1,13,1914 13.48 (14) (e) If the state office building located at 3319 West Beltline Highway
15in Dane County is sold by the state, the building commission shall ensure that the
16transferee pays $476,228 from the proceeds of the sale to the Wisconsin Public
17Broadcasting Foundation, if the foundation exists at the time of the transfer and if
18the secretary of administration does not transfer title to the building under s. 39.86
19(2) (a) 2
.
SB55-ASA1, s. 108b 20Section 108b. 13.48 (15) of the statutes is amended to read:
SB55-ASA1,13,2421 13.48 (15) Acquisition of leasehold interests. The Subject to the
22requirements of s. 20.924 (1) (i) and (j), the
building commission shall have the
23authority to acquire leasehold interests in land and buildings where such authority
24is not otherwise provided to an agency by law.
SB55-ASA1, s. 108c 25Section 108c. 13.48 (19) of the statutes is amended to read:
SB55-ASA1,14,11
113.48 (19) Alternatives to state construction. Whenever the building
2commission determines that the use of innovative types of design and construction
3processes will make better use of the resources and technology available in the
4building industry, the building commission may waive any or all of s. 16.855 if such
5action is in the best interest of the state and if the waiver is accomplished through
6formal action of the building commission. The building commission may authorize
7the lease, lease purchase or acquisition of such facilities constructed in the manner
8authorized by the building commission. The Subject to the requirements of s. 20.924
9(1) (i) and (j), the
building commission may also authorize the lease, lease purchase
10or acquisition of existing facilities in lieu of state construction of any project
11enumerated in the authorized state building program.
SB55-ASA1, s. 108d 12Section 108d. 13.48 (25p) of the statutes is created to read:
SB55-ASA1,14,2013 13.48 (25p) Biostar initiative. There is created a program, to be known as the
14biostar initiative, for the purpose of providing financial support to attract federal and
15private funds to construct biological sciences facilities to spur biological sciences
16education and research activities at the University of Wisconsin-Madison. Projects
17financed under the program shall be designed to provide biological sciences
18education and research facilities, ancillary systems, and supporting infrastructure.
19Projects shall be financed from the appropriation under s. 20.866 (2) (z) or as
20otherwise provided in the authorized state building program.
SB55-ASA1, s. 108e 21Section 108e. 13.48 (27) of the statutes is amended to read:
SB55-ASA1,15,322 13.48 (27) Lease of correctional facilities. The Subject to the requirements
23of s. 20.924 (1) (i) and (j), the
building commission may lease any facility for use of
24the department of corrections as a part of the authorized state building program,
25with an option to purchase the facility by the state. Any lease shall provide for the

1facility to be constructed in accordance with requirements and specifications
2approved by the department of administration and shall permit inspection of the site
3and facility by agents of the department.
SB55-ASA1, s. 108f 4Section 108f. 13.48 (31) of the statutes is created to read:
SB55-ASA1,15,155 13.48 (31) Debt increase for construction of a biomedical research and
6technology incubator at the Medical College of Wisconsin, Inc.
(a) The
7legislature finds and determines that it is in the public interest to promote the public
8health and welfare and to provide for economic development in this state by ensuring
9a fundamental and expanding capacity to conduct biomedical research and to create
10new technologies; by training students in the substance and methodology of
11biomedical research; and by providing scientific support to individuals and
12organizations in this state who are engaged in biomedical research and technological
13innovation. It is therefore the public policy of this state to assist the Medical College
14of Wisconsin, Inc., in the construction of facilities that will be used for biomedical
15research and the creation of new technologies.
SB55-ASA1,15,2416 (b) On or after July 1, 2003, the building commission may authorize up to
17$25,000,000 of general fund supported borrowing to aid in the construction of a
18biomedical research and technology incubator at the Medical College of Wisconsin,
19Inc. The state funding commitment for the construction of the incubator shall be in
20the form of a construction grant to the Medical College of Wisconsin, Inc. Before the
21building commission may award the construction grant under this paragraph, the
22Medical College of Wisconsin, Inc., must certify to the building commission that the
23total funding commitments of the state and nonstate sources will pay for the
24construction cost of the incubator.
SB55-ASA1,16,4
1(c) If the building commission awards a construction grant to the Medical
2College of Wisconsin, Inc., under this subsection, the Medical College of Wisconsin,
3Inc., shall provide the state with an option to purchase the biomedical research and
4technology incubator under the following conditions:
SB55-ASA1,16,85 1. The option price shall be the appraised fair market value at the time that the
6option is exercised, less a credit recognizing the amount of the state's construction
7grant. The option shall be subject to any mortgage or other security interest of any
8private lenders.
SB55-ASA1,16,99 2. The option may be exercised only upon the occurrence of any of the following:
SB55-ASA1,16,1110 a. Suspension of operation of a program of biomedical research and technology
11at the Medical College of Wisconsin, Inc., or any successor organization.
SB55-ASA1,16,1212 b. Foreclosure of any mortgage on the incubator by a private lender.
SB55-ASA1,16,2013 (d) If the state does not exercise the option to purchase the biomedical research
14and technology incubator under par. (c), and if the incubator is sold to any 3rd party,
15any agreement to sell the incubator shall provide that the state has the right to
16receive an amount equal to the construction grants awarded to the Medical College
17of Wisconsin, Inc., under this subsection from the net proceeds of any such sale after
18any mortgage on the incubator has been satisfied and all other secured debts have
19been paid. This right shall be paramount to the right of the Medical College of
20Wisconsin, Inc., to the proceeds upon such sale.
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