SB44-SSA1, s. 255 9Section 255. 18.53 (4) of the statutes is repealed and recreated to read:
SB44-SSA1,75,1310 18.53 (4) Unless otherwise provided in laws applicable to the issuance of a
11specific revenue obligation, in addition to the requirements established under sub.
12(3), the commission shall establish the amounts required for ancillary payments and
13establishment of reserves relating to the revenue obligations.
SB44-SSA1, s. 256 14Section 256. 18.54 (2) of the statutes is amended to read:
SB44-SSA1,75,1815 18.54 (2) The amount of evidences of revenue obligation issued or outstanding
16for purposes specified by the legislature under s. 18.53 (3) and (4) are subject only
17to the limits provided in the legislation which authorizes that revenue obligation.
18No refunding obligation is subject to any limitation specified by that legislation.
SB44-SSA1, s. 258 19Section 258. 18.55 (6) of the statutes is created to read:
SB44-SSA1,76,420 18.55 (6) Agreements and arrangements; delegation; use of revenue
21obligations.
(a) At the time of, or in anticipation of, contracting revenue obligations
22and at any time thereafter while the revenue obligations are outstanding, the
23commission may enter into agreements and ancillary arrangements relating to the
24revenue obligations, including trust indentures, liquidity facilities, remarketing or
25dealer agreements, letter of credit agreements, insurance policies, guaranty

1agreements, reimbursement agreements, indexing agreements, or interest
2exchange agreements. Any payment made or received pursuant to any such
3agreements or ancillary arrangements shall be made from or deposited into a fund
4relating to the relevant revenue obligation, as determined by the commission.
SB44-SSA1,76,75 (b) The commission may delegate to other persons the authority and
6responsibility to take actions necessary and appropriate to implement agreements
7and ancillary arrangements under par. (a).
SB44-SSA1,76,98 (c) Any revenue obligations may include revenue obligations contracted to fund
9interest, accrued or to accrue, on the revenue obligations.
SB44-SSA1, s. 261 10Section 261. 18.561 (5) of the statutes is amended to read:
SB44-SSA1,77,411 18.561 (5) Redemption fund. The proportion which shall be set aside for the
12payment of the principal of and interest on the enterprise obligations shall from
13month to month as they accrue and are received
and, as directed by the commission,
14payments to be received with respect to an agreement or ancillary arrangement
15entered into pursuant to s. 18.55 (6), shall, at such times as provided in the
16authorizing resolution
, be set apart and paid into a separate fund in the treasury or
17in an account maintained by a trustee appointed for that purpose in the authorizing
18resolution to be identified as "the ... redemption fund". Each redemption fund shall
19be expended, and all moneys from time to time on hand therein are irrevocably
20appropriated, in sums sufficient, only for the payment of principal of and interest on
21the enterprise obligations giving rise to it and premium, if any, due upon redemption
22of any such obligations, and for other obligations that are secured by the property or
23income, or both, of the enterprise or program
payment of obligations under an
24agreement or ancillary arrangement entered into under s. 18.55 (6) to the extent
25provided for in an authorizing resolution
. Moneys in the redemption funds may be

1commingled only for the purpose of investment with other public funds, but they
2shall be invested only in investment instruments permitted in s. 25.17 (3) (dr). All
3such investments shall be the exclusive property of the fund and all earnings on or
4income from such investments shall be credited to the fund.
SB44-SSA1, s. 262 5Section 262. 18.562 (1) of the statutes is renumbered 18.562 (1) (a) and
6amended to read:
SB44-SSA1,77,137 18.562 (1) (a) There is a security interest, for the benefit of the owners of the
8special fund obligations and other persons specified in the authorizing resolution
9providing for the issuance of the particular special fund obligations
, in the amounts
10that arise after the creation of the special fund program in the special fund related
11to the special fund obligations. For this purpose, amounts in the special fund shall
12be accounted for on a first-in, first-out basis. No, and no physical delivery,
13recordation, or other action is required to perfect the security interest.
SB44-SSA1,77,18 14(c) The special fund shall remain subject to the security interest until provision
15for payment in full of the principal and interest of the special fund obligations, and
16other obligations specified in the authorizing resolution providing for the issuance
17of the particular special fund obligations,
has been made, as provided in the
18authorizing resolution.
SB44-SSA1,77,21 19(d) An owner of special fund obligations may either at law or in equity protect
20and enforce the security interest and compel performance of all duties required by
21this section.
SB44-SSA1, s. 263 22Section 263. 18.562 (1) (b) of the statutes is created to read:
SB44-SSA1,78,223 18.562 (1) (b) 1. Except as provided in subd. 2., the security interest for the
24benefit of the owners of the special fund obligations and other persons specified in
25the authorizing resolution providing for the issuance of the particular special fund

1obligations shall have priority over all conflicting security interests to the fees,
2penalties, or excise taxes that are required to be deposited in the special fund.
SB44-SSA1,78,103 2. For different special fund obligations secured by the same fees, penalties, or
4excise taxes, priority shall be established according to the date of issuance of the
5special fund obligation or the incurrence of the other obligations specified in an
6authorizing resolution, if applicable, with earlier issuances or incurrences having
7priority over later issuances or incurrences, unless laws governing the issuance of
8a particular special fund obligation or the authorizing resolution providing for the
9issuance of a particular special fund obligation permit later issuances or incurrences
10on a parity or priority basis.
SB44-SSA1, s. 264 11Section 264. 18.562 (3) of the statutes is amended to read:
SB44-SSA1,79,412 18.562 (3) Redemption fund. The special fund revenues that are to be set aside
13for the payment of the principal of and interest of on the special fund obligations and,
14as directed by the commission, payments to be received with respect to an agreement
15or ancillary arrangement entered into under s. 18.55 (6),
shall be paid into a separate
16fund in the treasury or in an account maintained by a trustee appointed for that
17purpose in the authorizing resolution to be identified as "the ... redemption fund".
18Each redemption fund shall be expended, and all moneys from time to time on hand
19therein are irrevocably appropriated, in sums sufficient, only for the payment of
20principal of and interest on the special fund obligations giving rise to it and premium,
21if any, due upon redemption of any such obligations, and for other obligations that
22are secured by any fees, penalties, or excise taxes deposited in the special fund

23payment of obligations under an agreement or ancillary arrangement entered into
24under s. 18.55 (6) to the extent provided for in an authorizing resolution
. Moneys in
25the redemption funds may be commingled only for the purpose of investment with

1other public funds, but they shall be invested only in investment instruments
2permitted in s. 25.17 (3) (dr). All such investments shall be the exclusive property
3of the fund and all earnings on or income from such investments shall be credited to
4the fund.
SB44-SSA1, s. 265 5Section 265. 18.57 (1) of the statutes is amended to read:
SB44-SSA1,79,236 18.57 (1) A separate and distinct fund shall be established in the state treasury
7or in an account maintained by a trustee appointed for that purpose by the
8authorizing resolution with respect to each revenue-producing enterprise or
9program the income from which is to be applied to the payment of any enterprise
10obligation. A separate and distinct fund shall be established in the state treasury
11or in an account maintained by a trustee appointed for that purpose by the
12authorizing resolution with respect to any special fund program that is created by
13the imposition of fees, penalties or excise taxes and is applied to the payment

14financed through the issuance of special fund obligations. All moneys resulting from
15the issuance of evidences of revenue obligation shall be credited to the appropriate
16fund, applied for refunding or note renewal purposes, or to make deposits to reserve
17funds, except that moneys which represent premium or accrued interest or, to the
18extent provided in the resolution authorizing the issuance of such evidences of
19revenue obligation, premium
received on the issuance of evidences shall be credited
20to the appropriate redemption fund. As determined by the commission, payments
21to be received under an agreement or ancillary arrangement entered into under s.
2218.55 (6) with respect to any such issuance of evidences of revenue obligation shall
23be credited to the appropriate fund.
SB44-SSA1, s. 266 24Section 266. 18.57 (2) of the statutes is amended to read:
SB44-SSA1,80,5
118.57 (2) Moneys in such funds may be expended, pursuant to appropriations,
2only for the purposes and in the amounts for which borrowed, for the payment of the
3principal of and interest on related revenue obligations, to make deposits to reserve
4funds, and for expenses incurred in issuing such obligations to make ancillary
5payments
.
SB44-SSA1, s. 267 6Section 267. 18.58 (2) of the statutes is repealed.
SB44-SSA1, s. 268 7Section 268. 18.60 (2) of the statutes is amended to read:
SB44-SSA1,81,28 18.60 (2) If the commission determines to exchange refunding obligations, they
9may be exchanged privately for and in payment and discharge of any of the
10outstanding obligations or notes being refinanced. Refunding obligations may be
11exchanged for a like or greater principal amount of the obligations or notes being
12exchanged therefor except that the principal amount of the refunding obligations
13may exceed the principal amount of the obligations or notes being exchanged
14therefor only to the extent determined by the commission to be necessary or
15advisable to pay redemption premiums and unpaid interest to the date of exchange
16not otherwise provided for
such principal amount of the obligations or notes being
17exchanged therefore as may be determined by the commission to be necessary or
18advisable
. The owners of the obligations or notes being refunded who elect to
19exchange need not pay accrued interest on the refunding obligations if and to the
20extent that interest is accrued and unpaid on the obligations or notes being refunded
21and to be surrendered. If any of the obligations or notes to be refinanced are to be
22called for redemption, the commission shall determine which redemption dates shall
23be used, if more than one date is applicable and shall, prior to the issuance of the
24refunding obligations, provide for notice of redemption to be given in the manner and

1at the times required by the proceedings authorizing the outstanding obligations or
2notes.
SB44-SSA1, s. 269 3Section 269. 18.60 (3) of the statutes is amended to read:
SB44-SSA1,82,84 18.60 (3) The principal proceeds from the sale of any refunding obligations
5shall be applied either to the immediate payment and retirement of the obligations
6or notes being refinanced or, if the obligations or notes have not matured and are not
7presently redeemable, to the creation of a trust for and shall be pledged to the
8payment of the obligations or notes being refinanced. If a trust is created, a separate
9deposit shall be made for each issue of obligations or notes being refinanced. Each
10deposit shall be with the state treasurer secretary of administration or a bank or
11trust company that is then a member of the federal deposit insurance corporation.
12If the total amount of any deposit, including money other than sale proceeds but
13legally available for such purpose, is less than the principal amount of the obligations
14or notes being refinanced and for the payment of which the deposit has been created
15and pledged, together with applicable redemption premiums and interest accrued
16and to accrue to maturity or to the date of redemption, then the application of the sale
17proceeds shall be legally sufficient only if the money deposited is invested in
18securities issued by the United States or one of its agencies, or securities fully
19guaranteed by the United States, and only if the principal amount of the securities
20at maturity and the income therefrom to maturity will be sufficient and available,
21without the need for any further investment or reinvestment, to pay at maturity or
22upon redemption the principal amount of the obligations or notes being refinanced
23together with applicable redemption premiums and interest accrued and to accrue
24to maturity or to the date of redemption. The income from the principal proceeds of
25the securities shall be applied solely to the payment of the principal of and interest

1and redemption premiums on the obligations or notes being refinanced, but
2provision may be made for the pledging and disposition of any surplus. Nothing in
3this subsection shall be construed as a limitation on the duration of any deposit in
4trust for the retirement of obligations or notes being refinanced, but which have not
5matured and which are not presently redeemable. Nothing in this subsection shall
6be construed to prohibit reinvestment of the income of a trust if the reinvestments
7will mature at such times that sufficient cash will be available to pay interest,
8applicable premiums, and principal on the obligations or notes being refinanced.
SB44-SSA1, s. 276 9Section 276. 19.36 (4) of the statutes is amended to read:
SB44-SSA1,82,1410 19.36 (4) Computer programs and data. A computer program, as defined in s.
1122.03 16.971 (4) (c), is not subject to examination or copying under s. 19.35 (1), but
12the material used as input for a computer program or the material produced as a
13product of the computer program is subject to the right of examination and copying,
14except as otherwise provided in s. 19.35 or this section.
SB44-SSA1, s. 277 15Section 277. 19.43 (7) of the statutes is amended to read:
SB44-SSA1,83,216 19.43 (7) If an official required to file fails to make a timely filing, the board
17shall promptly provide notice of the delinquency to the state treasurer secretary of
18administration
, and to the chief executive of the department of which the official's
19office or position is a part, or, in the case of a district attorney, to the chief executive
20of that department and to the county clerk of each county served by the district
21attorney or in the case of a municipal judge to the clerk of the municipality of which
22the official's office is a part, or in the case of a justice, court of appeals judge, or circuit
23judge, to the director of state courts. Upon such notification both the state treasurer
24secretary of administration and the department, municipality, or director shall
25withhold all payments for compensation, reimbursement of expenses, and other

1obligations to the official until the board notifies the officers to whom notice of the
2delinquency was provided that the official has complied with this section.
SB44-SSA1, s. 279 3Section 279. 19.45 (11) (a) of the statutes is amended to read:
SB44-SSA1,83,94 19.45 (11) (a) The administrator of the division of merit recruitment and
5selection in the department of employment relations office of state human resources
6management
shall, with the board's advice, promulgate rules to implement a code
7of ethics for classified and unclassified state employees except state public officials
8subject to this subchapter, unclassified personnel in the University of Wisconsin
9System and officers and employees of the judicial branch.
SB44-SSA1, s. 280 10Section 280. 20.003 (4) (e) of the statutes is amended to read:
SB44-SSA1,83,1111 20.003 (4) (e) For fiscal year 2003-04, 1.6% $35,000,000.
SB44-SSA1, s. 281 12Section 281. 20.003 (4) (f) of the statutes is amended to read:
SB44-SSA1,83,1313 20.003 (4) (f) For fiscal year 2004-05, 1.8% $40,000,000.
SB44-SSA1, s. 282 14Section 282. 20.003 (4) (fm) of the statutes is created to read:
SB44-SSA1,83,1515 20.003 (4) (fm) For fiscal year 2005-06, $75,000,000.
SB44-SSA1, s. 283 16Section 283. 20.003 (4) (g) of the statutes is amended to read:
SB44-SSA1,83,1817 20.003 (4) (g) For fiscal year 2005-06 2006-07 and each fiscal year thereafter,
182%.
SB44-SSA1, s. 284 19Section 284. 20.005 (1) of the statutes is repealed and recreated to read:
SB44-SSA1,83,2220 20.005 (1) Summary of all funds. The budget governing fiscal operations for
21the state of Wisconsin for all funds beginning on July 1, 2003, and ending on June
2230, 2005, is summarized as follows: [See Figure 20.005 (1) following]

SB44-SSA1,84,22 Figure: 20.005 (1)
SB44-SSA1,84,33 GENERAL FUND SUMMARY - See PDF for table PDF
SUMMARY OF APPROPRIATIONS — ALL FUNDS - See PDF for table PDF
SUMMARY OF COMPENSATION RESERVES — ALL FUNDS - See PDF for table PDF
LOTTERY FUND SUMMARY - See PDF for table PDF
SB44-SSA1, s. 285ag 2Section 285ag. 20.005 (2) of the statutes is repealed and recreated to read:
SB44-SSA1,86,53 20.005 (2) State borrowing program summary. The following schedule sets
4forth the state borrowing program summary: [See Figures 20.005 (2) (a) and (b)
5following]

SB44-SSA1,87,22 Figure: 20.005 (2) (a)
SB44-SSA1,87,33 SUMMARY OF BONDING AUTHORITY MODIFICATIONS
2003-05 FISCAL BIENNIUM - See PDF for table PDF
SB44-SSA1,89,22 Figure: 20.005 (2) (b)
SB44-SSA1,89,33 GENERAL OBLIGATION AND
BUILDING CORPORATION DEBT SERVICE
FISCAL YEARS 2003-04 AND 2004-05 - See PDF for table PDF
SB44-SSA1, s. 286 1Section 286. 20.005 (3) of the statutes is repealed and recreated to read:
SB44-SSA1,97,22 20.005 (3) Appropriations. The following schedule sets forth all annual,
3biennial, and sum certain continuing appropriations and anticipated expenditures
4from other appropriations for the programs and other purposes indicated. All
5appropriations are made from the general fund unless otherwise indicated. The

1letter abbreviations shown designating the type of appropriation apply to both fiscal
2years in the schedule unless otherwise indicated. [See Figure 20.005 (3) following]
SB44-SSA1,97,44 Figure: 20.005 (3)
SB44-SSA1, s. 287p 2Section 287p. 20.115 (1) (km) of the statutes is created to read:
SB44-SSA1,278,63 20.115 (1) (km) Consumer protection assessments. All moneys transferred
4under s. 100.261 (4) from the department of justice's sum certain, general purpose
5revenue state operations appropriations, for consumer protection and consumer
6information and education.
SB44-SSA1, s. 289 7Section 289. 20.115 (7) (v) of the statutes is repealed.
SB44-SSA1, s. 290 8Section 290. 20.115 (7) (va) of the statutes is created to read:
SB44-SSA1,278,119 20.115 (7) (va) Clean sweep grants. From the recycling fund, the amounts in
10the schedule for chemical and container collection grants under s. 93.55 and for
11household hazardous waste grants under s. 93.57.
SB44-SSA1, s. 291n 12Section 291n. 20.115 (8) (jm) of the statutes is amended to read:
SB44-SSA1,279,213 20.115 (8) (jm) Telephone solicitation regulation. The amounts in the schedule
14for establishing and maintaining the nonsolicitation directory under s. 100.52 (2).

15All moneys received from telephone solicitor registration and registration renewal
16fees paid under the rules promulgated under s. 100.52 (3) (a) for establishing and

1maintaining the nonsolicitation directory under s. 100.52 (2)
shall be credited to this
2appropriation
.
SB44-SSA1, s. 292c 3Section 292c. 20.143 (1) (c) of the statutes is amended to read:
SB44-SSA1,279,184 20.143 (1) (c) Wisconsin development fund; grants, loans, reimbursements, and
5assistance.
Biennially, the amounts in the schedule for grants under ss. 560.145,
6560.16, 560.175, and 560.26; for grants and loans under ss. 560.62, 560.63, and
7560.66; for loans under s. 560.147; for reimbursements under s. 560.167; for
8providing assistance under s. 560.06; for the costs specified in s. 560.607; for the loan
9under 1999 Wisconsin Act 9, section 9110 (4); for the grants under 1995 Wisconsin
10Act 27
, section 9116 (7gg), 1995 Wisconsin Act 119, section 2 (1), 1997 Wisconsin Act
1127
, section 9110 (6g), and 1999 Wisconsin Act 9, section 9110 (5), and 2003 Wisconsin
12Act .... (this act), section 9109 (1d) and (2q)
; and for providing up to $100,000 annually
13for the continued development of a manufacturing and advanced technology training
14center in Racine. Of the amounts in the schedule, $50,000 shall be allocated in each
15of fiscal years 1997-98 and 1998-99 for providing the assistance under s. 560.06 (1).
16Notwithstanding s. 560.607, of the amounts in the schedule, $125,000 shall be
17allocated in each of 4 consecutive fiscal years, beginning with fiscal year 1998-99,
18for grants and loans under s. 560.62 (1) (a).
SB44-SSA1, s. 292f 19Section 292f. 20.143 (1) (fj) of the statutes is created to read:
SB44-SSA1,279,2120 20.143 (1) (fj) Manufacturing extension center grants. The amounts in the
21schedule for grants under s. 560.25.
SB44-SSA1, s. 292m 22Section 292m. 20.143 (1) (hm) of the statutes is amended to read:
SB44-SSA1,280,223 20.143 (1) (hm) Certified capital companies. All moneys received under subch.
24II of ch. 560 for the cost of administering subch. II of ch. 560. Notwithstanding s.

120.001 (3) (c), at the end of each fiscal year the unencumbered balance in this
2appropriation account shall lapse to the general fund.
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