Amendment SSA1-SB44

SB44-SSA1,975,3 552.23 (1) If the target company is an insurance company subject to regulation by the commissioner of insurance, a banking corporation subject to regulation by the division of banking, a , savings bank, or savings and loan association subject to regulation by the division of savings institutions banking, or a company subject to regulation by the public service commission, the department of transportation, or the office of the commissioner of railroads, the division of securities shall promptly furnish a copy of the registration statement filed under this chapter to the regulatory agency having supervision of the target company. Any hearing under this chapter involving any such target company shall be held jointly with the regulatory agency having supervision, and any determination following the hearing shall be made jointly with that regulatory agency.

SB44-SSA1, s. 2618t Section 2618t. 560.031 of the statutes is repealed.

SB44-SSA1, s. 2619 Section 2619. 560.045 (1) of the statutes is amended to read:

SB44-SSA1,975,13 560.045 (1) Notwithstanding s. 16.54 (2) (a), from moneys received under a community development block grant, 42 USC 5301 to 5320, the department shall contract with the department of administration for the administration of housing programs, including the housing improvement grant program and the initial rehabilitation grant program. To the extent allowed under federal law or regulation, the department shall give priority in the awarding of grants under the housing programs to grants for projects related to the redevelopment of brownfields, as defined in s. 560.60 (1v).

SB44-SSA1, s. 2624d Section 2624d. 560.25 (2) (intro.) of the statutes, as affected by 2001 Wisconsin Act 16, is amended to read:

SB44-SSA1,975,19 560.25 (2) Grants. (intro.) Subject to sub. (4), the department may make a grant from the appropriation under s. 20.143 (1) (ko) s. 20.143 (1) (fj) to a technology-based nonprofit organization to provide support for a manufacturing extension center if all of the following apply:

SB44-SSA1, s. 2628 Section 2628. 560.62 (2m) of the statutes is repealed.

SB44-SSA1, s. 2628c Section 2628c. 560.795 (3) (a) 4. and 5. of the statutes are consolidated, renumbered 560.795 (3) (a) 4. and amended to read:

SB44-SSA1,976,8 560.795 (3) (a) 4. Any person that is conducting or that intends to conduct economic activity in a development opportunity zone under sub. (1) (e) and that, in conjunction with the local governing body of the city in which the development opportunity zone is located, submits a project plan as described in par. (b) to the department shall be entitled to claim tax benefits while the area is designated as a development opportunity zone. 5. Any corporation that is conducting or that intends to conduct economic activity in a development opportunity zone under sub. (1) or (f) and that, in conjunction with the local governing body of the city in which the development opportunity zone is located, submits a project plan as described in par. (b) to the department shall be entitled to claim tax benefits while the area is designated as a development opportunity zone.

SB44-SSA1, s. 2628fd Section 2628fd. 560.80 (4) of the statutes is amended to read:

SB44-SSA1,976,14 560.80 (4) "Eligible development project costs" means costs that, in accordance with sound business and financial practices, are appropriately incurred in connection with a development project or a recycling development project, but does not include entertainment expenses or expenses incurred more than 6 months before the board approves a grant or loan under s. 560.83 or 560.835.

SB44-SSA1, s. 2628ff Section 2628ff. 560.80 (5) of the statutes is amended to read:

SB44-SSA1,976,18 560.80 (5) "Eligible recipient" means a person who is eligible to receive a grant under s. 560.82 (5) (a) or 560.837 or a grant or loan under s. 560.83 (5) (a) or (b) or 560.835.

SB44-SSA1, s. 2628fh Section 2628fh. 560.80 (11) of the statutes is amended to read:

SB44-SSA1,976,22 560.80 (11) "Project" means a development project, a recycling development project, an early planning project, a finance project, an education and training project or a revolving fund project.

SB44-SSA1, s. 2628fj Section 2628fj. 560.80 (12) of the statutes is repealed.

SB44-SSA1, s. 2628fL Section 2628fL. 560.81 (2) of the statutes is amended to read:

SB44-SSA1,977,3 560.81 (2) The board awards a grant or loan to the eligible recipient or local development corporation under ss. 560.83 (1) and 560.84 or to the eligible recipient under ss. 560.835 and s. 560.84.

SB44-SSA1, s. 2628fn Section 2628fn. 560.81 (3) of the statutes is amended to read:

SB44-SSA1,977,6 560.81 (3) The board awards a grant or loan to the local development corporation under s. 560.83 (2) or 560.835.

SB44-SSA1, s. 2628fp Section 2628fp. 560.82 (2) (intro.) of the statutes is amended to read:

SB44-SSA1,977,10 560.82 (2) (intro.) The department may not award a grant under sub. (1) or s. 560.835 (6) unless the eligible recipient submits an application, in a form required by the department, that contains or describes all of the following:

SB44-SSA1, s. 2628fr Section 2628fr. 560.82 (3) (intro.) of the statutes is amended to read:

SB44-SSA1,977,14 560.82 (3) (intro.) An eligible recipient who receives a grant under sub. (1) or s. 560.835 (6), 2001 stats., may only use the proceeds of the grant for the following purposes:

SB44-SSA1, s. 2628ft Section 2628ft. 560.82 (4) (b) of the statutes is amended to read:

SB44-SSA1,977,17 560.82 (4) (b) Award, to any one eligible recipient or for any one early planning project, grants under sub. (1) or s. 560.835 (6) that total more than $15,000.

SB44-SSA1, s. 2628fv Section 2628fv. 560.82 (5) (a) of the statutes is amended to read:

SB44-SSA1,977,21 560.82 (5) (a) The department may only award grants under sub. (1) or s. 560.835 (6) to individuals who are minority group members and residents of this state.

SB44-SSA1, s. 2628gd Section 2628gd. 560.835 of the statutes is repealed.

SB44-SSA1, s. 2628gf Section 2628gf. 560.84 (1) (b) 1. of the statutes is amended to read:

SB44-SSA1,977,25 560.84 (1) (b) 1. If an early planning project under s. 560.82 or 560.835 (6), that the project will increase employment in this state.

SB44-SSA1, s. 2628gh Section 2628gh. 560.84 (1) (b) 2. of the statutes is amended to read:

SB44-SSA1,978,3 560.84 (1) (b) 2. If a development project or recycling development project, that the project will retain or increase employment in this state.

SB44-SSA1, s. 2628gj Section 2628gj. 560.84 (1) (e) 1. of the statutes is amended to read:

SB44-SSA1,978,10 560.84 (1) (e) 1. For grants funding early planning projects under s. 560.82 or 560.835 (6), not less than 25% of the cost of the project. Up to 50% of the contribution under this subdivision may be in the form of the in-kind services of a qualified 3rd party or qualified 3rd parties. The department shall determine what services may be used as in-kind contributions and whether a 3rd party is qualified, for purposes of this subdivision.

SB44-SSA1, s. 2628gL Section 2628gL. 560.84 (1) (e) 2. of the statutes is amended to read:

SB44-SSA1,978,14 560.84 (1) (e) 2. For grants and loans funding development projects or recycling development projects, a cash contribution of not less than 25% of the cost of the project.

SB44-SSA1, s. 2628gn Section 2628gn. 560.84 (1) (f) of the statutes is amended to read:

SB44-SSA1,978,17 560.84 (1) (f) That the project meets all criteria set forth in s. 560.82, 560.83, 560.835 or 560.837, whichever is appropriate.

SB44-SSA1, s. 2628gp Section 2628gp. 560.84 (1) (j) of the statutes is amended to read:

SB44-SSA1,978,21 560.84 (1) (j) If a development project, recycling development project, finance project, or education and training project, that funds from the grant or loan will not be used to refinance existing debt.

SB44-SSA1, s. 2628gr Section 2628gr. 560.84 (2) (a) 1. of the statutes is amended to read:

SB44-SSA1,978,24 560.84 (2) (a) 1. If an early planning project under s. 560.82 or 560.835 (6), the extent to which the project will increase employment in this state.

SB44-SSA1, s. 2628gt Section 2628gt. 560.84 (2) (a) 2. of the statutes is amended to read:

SB44-SSA1,979,2 560.84 (2) (a) 2. If a development project or recycling development project, the extent to which the project will retain or increase employment in this state.

SB44-SSA1, s. 2628gv Section 2628gv. 560.84 (2) (c) (intro.) of the statutes is amended to read:

SB44-SSA1,979,5 560.84 (2) (c) (intro.) If a development project or recycling development project, whether the project will be located in any or all of the following:

SB44-SSA1, s. 2628gx Section 2628gx. 560.84 (2) (f) of the statutes is amended to read:

SB44-SSA1,979,9 560.84 (2) (f) If a development project or recycling development project, the financial soundness of the minority business involved in the project and the commitment of the eligible recipient to repay the loan or grant.

SB44-SSA1, s. 2628hd Section 2628hd. 560.85 (2) of the statutes is amended to read:

SB44-SSA1,979,14 560.85 (2) The board shall develop a policy governing the repayment of grants and loans made under s. 560.83 or 560.835. The board or department shall deposit moneys received in repayment of grants and loans under s. 560.83 in the appropriation under s. 20.143 (1) (im).

SB44-SSA1, s. 2628hf Section 2628hf. 560.85 (3) (a) of the statutes is amended to read:

SB44-SSA1,979,18 560.85 (3) (a) Develop procedures to evaluate applications and monitor project performance for grants awarded for early planning projects under s. 560.82 or s. 560.835 (6), 2001 stats.

SB44-SSA1, s. 2628hh Section 2628hh. 560.85 (3) (b) of the statutes is amended to read:

SB44-SSA1,979,24 560.85 (3) (b) Develop procedures, with the approval of the board, to evaluate applications, monitor project performance and audit grants and loans awarded for development projects under s. 560.83, recycling development projects under s. 560.835, 2001 stats., and finance projects and education and training projects under s. 560.837.

SB44-SSA1, s. 2628m Section 2628m. 560.87 (6) of the statutes is repealed.

SB44-SSA1, s. 2629 Section 2629. 562.02 (1) (g) of the statutes is amended to read:

SB44-SSA1,980,7 562.02 (1) (g) At least once every 3 months, file a written report on the operation of racing in this state with the governor, the attorney general, the state treasurer secretary of administration, the secretary of state, the legislative audit bureau, the president of the senate, and the speaker of the assembly. The report shall include information on racetrack operations, race attendance, and private, state, and local revenues derived from racing in this state.

SB44-SSA1, s. 2629d Section 2629d. 562.057 (4m) (b) of the statutes is repealed.

SB44-SSA1, s. 2629e Section 2629e. 562.057 (4m) (bm) of the statutes is created to read:

SB44-SSA1,980,13 562.057 (4m) (bm) Wagering on simulcast races will be conducted at the racetrack only as an adjunct to, and not in a manner that will supplant, wagering on live on-track racing at that racetrack, and wagering on simulcast races will not be the primary source of wagering revenue at that racetrack.

SB44-SSA1, s. 2630g Section 2630g. 565.25 (1m) of the statutes is renumbered 565.25 (1m) (a) and amended to read:

SB44-SSA1,980,24 565.25 (1m) (a) Subject to approval by the secretary of revenue, the administrator may determine whether lottery functions shall be performed by department of revenue employees or by one or more persons under contract with the department of administration, except that no a contract may provide for the entire management of the lottery or for the entire operation of the lottery , other than services described in par. (c), by any a private person only if the joint committee on finance approves the contract, subject to par. (b), under s. 13.10. The department of administration may contract for management consultation services to assist in the management or operation of the lottery.

SB44-SSA1,981,6 (c) The department of administration may not contract for financial auditing or security monitoring services, except that, if the department of administration delegates under s. 16.71 (1) to the department of revenue the authority to make a major procurement, the department of revenue may contract with the department of administration for warehouse and building protection services relating to the state lottery.

SB44-SSA1,981,12 (d) If the department of administration delegates under s. 16.71 (1) to the department of revenue the authority to make a major procurement, the department of revenue shall assume the powers and duties of the department of administration and the administrator shall assume the powers and duties of the secretary of administration under this section and ss. 16.70 to 16.77, except under ss. 16.72 (4) (a), 16.76 (1) and 16.77 (1).

SB44-SSA1, s. 2630h Section 2630h. 565.25 (1m) (b) of the statutes is created to read:

SB44-SSA1,981,18 565.25 (1m) (b) The joint committee on finance may not approve a contract providing for the entire management of the lottery or for the entire operation of the lottery by any private person unless the departments of administration and revenue first jointly submit to the joint committee on finance a lottery privatization plan describing all of the following:

SB44-SSA1,981,19 1. What functions the private person would perform under the contract.

SB44-SSA1,981,22 2. What management authority the private person would have with respect to lottery advertising, prize payout levels, and any lottery function that the state would perform if the contract were approved.

SB44-SSA1,981,23 3. How the private person would interact with other lottery vendors.

SB44-SSA1,981,25 4. Whether the contract would require some form of profit sharing and, if so, a description of the profit-sharing mechanism.

SB44-SSA1,982,4 5. A transition plan to ensure the successful conversion of the lottery to new management, including a schedule for phasing out state positions and a rationale for the number and classification of state positions that would be needed after the conversion.

SB44-SSA1, s. 2631 Section 2631. 565.25 (2) (a) 4. of the statutes is repealed and recreated to read:

SB44-SSA1,982,15 565.25 (2) (a) 4. The administrator shall develop specifications for major procurements. If security is a factor in the materials, supplies, equipment, property, or services to be purchased in any major procurement, then invitations for bids or competitive sealed proposals shall include specifications related to security. The administrator shall submit specifications for major procurement to the secretary of revenue for review and approval before the department of administration releases the specifications in invitations for bids or competitive sealed proposals. The department of administration shall require separate bids or separate competitive sealed proposals for management consultation services if the services are provided under contract as provided in sub. (1m) (a).

SB44-SSA1, s. 2632 Section 2632. 565.37 (3) of the statutes is amended to read:

SB44-SSA1,982,21 565.37 (3) Department report. The department shall submit quarterly reports on the operation of the lottery to the chief clerk of each house of the legislature, for distribution to the legislature under s. 13.172 (2) and to the governor, attorney general, state treasurer secretary of administration, secretary of state, and state auditor.

SB44-SSA1, s. 2633m Section 2633m. 569.06 of the statutes is amended to read:

SB44-SSA1,983,4 569.06 Indian gaming receipts. Indian gaming receipts shall be credited to the appropriation accounts under ss. 20.455 (2) (gc) and 20.505 (8) (h) and (hm) as specified under ss. 20.455 (2) (gc) and 20.505 (8) (h) and (hm). Indian gaming receipts shall be credited to the appropriation account under s. 20.505 (8) (hm) in the amount necessary to make the transfers specified under s. 20.505 (8) (hm). Indian gaming receipts not otherwise credited to appropriation accounts under this section shall be paid into the general fund.

SB44-SSA1, s. 2635 Section 2635. 601.13 (1) (intro.) of the statutes is amended to read:

SB44-SSA1,983,9 601.13 (1) Receipt of deposits. (intro.) Subject to the approval of the commissioner, the state treasurer secretary of administration shall accept deposits or control of acceptable book-entry accounts from insurers and other licensees of the office as follows:

SB44-SSA1, s. 2636 Section 2636. 601.13 (3) (intro.) of the statutes is amended to read:

SB44-SSA1,983,15 601.13 (3) Securities eligible. (intro.) All deposits may consist of any of the securities authorized in this subsection. Each security must be approved by the commissioner, must be subject to disposition by the state treasurer secretary of administration, and must not be available to any other person except as expressly provided by law. The authorized securities are:

SB44-SSA1, s. 2637 Section 2637. 601.13 (5) of the statutes is amended to read:

SB44-SSA1,984,2 601.13 (5) Receipt, inspection, and record. The state treasurer secretary of administration shall deliver to the depositor a receipt for all securities deposited or held under the control of the state treasurer secretary of administration and shall permit the depositor to inspect its physically held securities at any reasonable time. On application of the depositor the treasurer secretary of administration shall certify when required by any law of the United States or of any other state or foreign country or by the order of any court of competent jurisdiction that the deposit was made. The treasurer secretary of administration and the commissioner shall each keep a permanent record of securities deposited or held under the control of the state treasurer secretary of administration and of any substitutions or withdrawals and shall compare records at least annually.

SB44-SSA1, s. 2638 Section 2638. 601.13 (6) of the statutes is amended to read:

SB44-SSA1,984,6 601.13 (6) Transfer of securities. No transfer of a deposited security, whether voluntary or by operation of law, is valid unless approved in writing by the commissioner and countersigned by the treasurer secretary of administration.

SB44-SSA1, s. 2639 Section 2639. 601.13 (8) (intro.) of the statutes is amended to read:

SB44-SSA1,984,10 601.13 (8) Interest and substitutions. (intro.) Subject to s. 14.58 (13) 16.401 (11), a depositor shall, while solvent and complying with the laws of this state, be entitled: