Amendment AA23-SB21

SB21-AA23,31,15 (f) Procedures, if any, by which the terms of any contract with bondholders may be amended, the amount of bonds the holders of which must consent to the amendment, and the manner in which this consent may be given.

SB21-AA23,31,18 (g) Defining the acts or omissions to act that constitute a default in the duties of the authority to the bondholders, and providing the rights and remedies of the bondholders in the event of a default.

SB21-AA23,31,19 (h) Other matters relating to the bonds that the board considers desirable.

SB21-AA23,31,23 (6) Neither the members of the board nor any person executing the bonds is liable personally on the bonds or subject to any personal liability or accountability by reason of the issuance of the bonds, unless the personal liability or accountability is the result of willful misconduct.

SB21-AA23,32,7 239.06 Bond security. The authority may secure bonds by a trust agreement, trust indenture, indenture of mortgage, or deed of trust by and between the authority and one or more corporate trustees. A bond resolution providing for the issuance of bonds so secured shall mortgage, pledge, assign, or grant security interests in some or all of the revenues to be received by, and property of, the authority and may contain those provisions for protecting and enforcing the rights and remedies of the bondholders that are reasonable and proper and not in violation of law. A bond resolution may contain other provisions determined by the board to be reasonable and proper for the security of the bondholders.

SB21-AA23,32,13 239.07 Bonds not public debt. (1) The state is not liable on bonds, and the bonds are not a debt of the state. All bonds shall contain a statement to this effect on the face of the bond. A bond issue does not, directly, indirectly, or contingently, obligate the state or a political subdivision of the state to levy any tax or make any appropriation for payment of the bonds. Nothing in this section prevents the authority from pledging its full faith and credit to the payment of bonds.

SB21-AA23,32,23 (2) Nothing in this chapter authorizes the authority to create a debt of the state, and all bonds issued by the authority are payable, and shall state that they are payable, solely from the funds pledged for their payment in accordance with the bond resolution authorizing their issuance or in any trust indenture or mortgage or deed of trust executed as security for the bonds. The state is not liable for the payment of the principal of or interest on a bond or for the performance of any pledge, mortgage, obligation, or agreement that may be undertaken by the authority. The breach of any pledge, mortgage, obligation, or agreement undertaken by the authority does not impose pecuniary liability upon the state or a charge upon its general credit or against its taxing power.

SB21-AA23,33,5 239.08 State pledge. The state pledges to and agrees with the bondholders, and persons that enter into contracts with the authority under this chapter, that the state will not limit or alter the rights vested in the authority by this chapter before the authority has fully met and discharged the bonds, and any interest due on the bonds, and has fully performed its contracts, unless adequate provision is made by law for the protection of the bondholders or those entering into contracts with the authority.

SB21-AA23,33,9 239.09 Liability limited. Neither the state nor any political subdivision of the state, nor any officer, employee, or agent of the state or a political subdivision of the state who is acting within the scope of employment or agency, is liable for any debt, obligation, act, or omission of the authority.

SB21-AA23,33,12 239.10 Annual report. (1) Annually, the board shall submit to the chief clerk of each house of the legislature, for distribution to the legislature under s. 13.172 (2), a report on the activities of the authority, including all of the following:

SB21-AA23,33,13 (a) Its operations, accomplishments, goals, and objectives.

SB21-AA23,33,14 (b) A statement of income and expenses for the fiscal year.

SB21-AA23,33,15 (c) Its assets and liabilities at the end of its fiscal year.

SB21-AA23,33,18 (d) A schedule of its bonds and notes outstanding at the end of its fiscal year, together with a statement of the amounts redeemed and incurred during such fiscal year.

SB21-AA23,33,24 (2) The authority, annually on January 15, shall file with the department of administration and the joint legislative council a complete and current listing of all forms, reports, and papers required by the authority to be completed by any person, other than a governmental body, as a condition of obtaining the approval of the authority or for any other reason. The authority shall attach a blank copy of each such form, report, or paper to the listing.".

SB21-AA23,34,2 2. Page 9, line 8: after "System Authority," insert "the Wisconsin Student Loan Refinancing Authority,".

SB21-AA23,34,3 3. Page 30, line 10: delete that line.

SB21-AA23,34,4 4. Page 55, line 5: after "238," insert "239,".

SB21-AA23,34,7 5. Page 123, line 3: increase the dollar amount for fiscal year 2015-16 by $125,000,000 and increase the dollar amount for fiscal year 2016-17 by $125,000,000 for the purpose for which the appropriation is made.

SB21-AA23,34,8 6. Page 124, line 20: delete lines 20 to 22 and substitute: - See PDF for table

SB21-AA23,34,9 7. Page 125, line 1: delete lines 1 to 4 and substitute: - See PDF for table

SB21-AA23,34,13 8. Page 195, line 7: decrease the dollar amount for fiscal year 2015-16 by $113,100,000 and decrease the dollar amount for fiscal year 2016-17 by $247,400,000 for the purpose of providing Medical Assistance to certain adults with incomes up to 133 percent of the federal poverty line.

SB21-AA23,34,14 9. Page 299, line 3: delete lines 3 to 14.

SB21-AA23,35,2 10. Page 404, line 18: delete the material beginning with that line and ending with page 406, line 22.

SB21-AA23,35,3 11. Page 411, line 13: delete that line.

SB21-AA23,35,4 12. Page 412, line 8: delete that line.

SB21-AA23,35,6 13. Page 412, line 20: delete the material beginning with that line and ending with page 422, line 14.

SB21-AA23,35,8 14. Page 422, line 22: delete the material beginning with that line and ending with page 423, line 3.

SB21-AA23,35,9 15. Page 424, line 1: delete lines 1 to 11.

SB21-AA23,35,10 16. Page 424, line 13: delete that line.

SB21-AA23,35,11 17. Page 425, line 4: delete lines 4 and 5.

SB21-AA23,35,12 18. Page 931, line 12: delete lines 12 to 22.

SB21-AA23,35,13 19. Page 1016, line 4: delete lines 4 to 12.

SB21-AA23,35,15 20. Page 1317, line 25: delete the material beginning with that line and ending with page 1318, line 17.

SB21-AA23,35,17 21. Page 1339, line 16: delete the material beginning with that line and ending with page 1340, line 10.

SB21-AA23,35,19 22. Page 1529, line 19: after "academic year" insert "or in the 6-month period thereafter".

SB21-AA23,35,20 23. Page 1531, line 22: after that line insert:

SB21-AA23,36,3 "(9u) Wisconsin Bioenergy Initiative. The authorized FTE positions for the University of Wisconsin System Board of Regents are increased by 35.2 SEG positions, to be funded from the appropriation under section 20.285 (1) (s) of the statutes, for the purpose of supporting research and development under the Wisconsin Bioenergy Initiative.

SB21-AA23,36,7 (9v) Extension recycling education. The authorized FTE positions for the University of Wisconsin System Board of Regents are increased by 4.0 SEG positions, to be funded from the appropriation under section 20.285 (1) (tb) of the statutes, for the purpose of supporting University of Wisconsin-Extension recycling education.

SB21-AA23,36,11 (9w) Solid waste research and experiments. The authorized FTE positions for the University of Wisconsin System Board of Regents are increased by 1.0 SEG position, to be funded from the appropriation under section 20.285 (1) (tm) of the statutes, for the purpose of supporting solid waste research and experiments.".

SB21-AA23,36,12 24. Page 1537, line 14: after that line insert:

SB21-AA23,36,19 "(3y) Staggered terms. Notwithstanding the length of terms specified for the members of the board of the Wisconsin Student Loan Refinancing Authority under section 239.02 of the statutes, as created by this act, of the 5 members appointed under section 239.02 (1) (a) 3. to 6. of the statutes, as created by this act, one of the initial members shall be appointed for a term expiring on July 1, 2017, 2 of the initial members shall be appointed for terms expiring on July 1, 2018, and the remaining 2 initial members shall be appointed for terms expiring on July 1, 2019.".

SB21-AA23,36,20 25. Page 1557, line 11: after that line insert:

SB21-AA23,37,2 "(3y) Tuition expenses deduction. The treatment of section 71.05 (6) (b) 28. (intro.) and j. of the statutes first applies to taxable years beginning on January 1 of the year in which this subsection takes effect, except that if this subsection takes effect after July 31 the treatment of section 71.05 (6) (b) 28. (intro.), am., h., and j. of the statutes first applies to taxable years beginning on January 1 of the year following the year in which this subsection takes effect.".

SB21-AA23,37,3 26. Page 1563, line 20: after that line insert:

SB21-AA23,37,6 "(5u) Medicaid expansion. The treatment of sections 49.45 (23) (a) and 49.471 (1) (cr), (4) (a) 4. b., and (4g) takes effect on January 1, 2016, or on the day after publication, whichever is later.".

SB21-AA23,37,7 27. Page 1568, line 4: delete lines 4 to 8.

SB21-AA23,37,8 28. Page 1568, line 11: delete lines 11 and 12.

SB21-AA23,37,9 29. Page 1570, line 21: after that line insert:

SB21-AA23,37,12 "(3y) Financial aid information. The treatment of sections 39.28 (7), 39.54, and 224.30 (6) of the statutes takes effect on the first day of the 7th month beginning after publication.".

SB21-AA23,37,13 (End)