SB21-SSA1-SA20,2,84
13.94
(1) (dt) Biennially, beginning in 2017, conduct a financial audit of the
5Wisconsin Student Loan Refinancing Authority and a program evaluation audit of
6the programs administered by the Wisconsin Student Loan Refinancing Authority
7under ch. 239. The legislative audit bureau shall file a copy of each audit report
8under this paragraph with the distributees specified in par. (b).
SB21-SSA1-SA20,4
9Section
4. 13.94 (1s) (c) 9. of the statutes is created to read:
SB21-SSA1-SA20,2,1110
13.94
(1s) (c) 9. The Wisconsin Student Loan Refinancing Authority for the cost
11of the audit required to be performed under sub. (1) (dt).
SB21-SSA1-SA20,5
12Section
5. 13.94 (4) (a) 1. of the statutes is amended to read:
SB21-SSA1-SA20,3,413
13.94
(4) (a) 1. Every state department, board, examining board, affiliated
14credentialing board, commission, independent agency, council or office in the
15executive branch of state government; all bodies created by the legislature in the
16legislative or judicial branch of state government; any public body corporate and
17politic created by the legislature including specifically the Fox River Navigational
18System Authority, the Lower Fox River Remediation Authority, the Wisconsin
19Aerospace Authority,
the Wisconsin Student Loan Refinancing Authority, the
20Wisconsin Economic Development Corporation, a professional baseball park district,
21a local professional football stadium district, a local cultural arts district
, and a
22long-term care district under s. 46.2895; every Wisconsin works agency under subch.
23III of ch. 49; every provider of medical assistance under subch. IV of ch. 49; technical
24college district boards; every county department under s. 51.42 or 51.437; every
25nonprofit corporation or cooperative or unincorporated cooperative association to
1which moneys are specifically appropriated by state law; and every corporation,
2institution, association or other organization which receives more than 50% of its
3annual budget from appropriations made by state law, including subgrantee or
4subcontractor recipients of such funds.
SB21-SSA1-SA20,3,18
613.95 Legislative fiscal bureau. (intro.) There is created a bureau to be
7known as the "Legislative Fiscal Bureau" headed by a director. The fiscal bureau
8shall be strictly nonpartisan and shall at all times observe the confidential nature
9of the research requests received by it; however, with the prior approval of the
10requester in each instance, the bureau may duplicate the results of its research for
11distribution. Subject to s. 230.35 (4) (a) and (f), the director or the director's
12designated employees shall at all times, with or without notice, have access to all
13state agencies, the University of Wisconsin Hospitals and Clinics Authority, the
14Wisconsin Aerospace Authority, the Lower Fox River Remediation Authority,
the
15Wisconsin Student Loan Refinancing Authority, the Wisconsin Economic
16Development Corporation, and the Fox River Navigational System Authority, and to
17any books, records, or other documents maintained by such agencies or authorities
18and relating to their expenditures, revenues, operations, and structure.
SB21-SSA1-SA20,3,2420
16.002
(2) "Departments" means constitutional offices, departments, and
21independent agencies and includes all societies, associations, and other agencies of
22state government for which appropriations are made by law, but not including
23authorities created in subch. II of ch. 114 or in ch. 231, 232, 233, 234, 237, 238,
239, 24or 279.
SB21-SSA1-SA20,4,6
116.004
(4) Freedom of access. The secretary and such employees of the
2department as the secretary designates may enter into the offices of state agencies
3and authorities created under subch. II of ch. 114 and under chs. 231, 233, 234, 237,
4238,
239, and 279, and may examine their books and accounts and any other matter
5that in the secretary's judgment should be examined and may interrogate the
6agency's employees publicly or privately relative thereto.
SB21-SSA1-SA20,4,118
16.004
(5) Agencies and employees to cooperate. All state agencies and
9authorities created under subch. II of ch. 114 and under chs. 231, 233, 234, 237, 238,
10239, and 279, and their officers and employees, shall cooperate with the secretary
11and shall comply with every request of the secretary relating to his or her functions.
SB21-SSA1-SA20,4,2013
16.004
(12) (a) In this subsection, "state agency" means an association,
14authority, board, department, commission, independent agency, institution, office,
15society, or other body in state government created or authorized to be created by the
16constitution or any law, including the legislature, the office of the governor, and the
17courts, but excluding the University of Wisconsin Hospitals and Clinics Authority,
18the Wisconsin Aerospace Authority, the Lower Fox River Remediation Authority, the
19Wisconsin Economic Development Corporation,
the Wisconsin Student Loan
20Refinancing Authority, and the Fox River Navigational System Authority.
SB21-SSA1-SA20,5,222
16.045
(1) (a) "Agency" means an office, department, independent agency,
23institution of higher education, association, society, or other body in state
24government created or authorized to be created by the constitution or any law, that
25is entitled to expend moneys appropriated by law, including the legislature and the
1courts, but not including an authority created in subch. II of ch. 114 or in ch. 231, 232,
2233, 234, 237, 238,
239, or 279.
SB21-SSA1-SA20,5,74
16.15
(1) (ab) "Authority" has the meaning given under s. 16.70 (2), but
5excludes the University of Wisconsin Hospitals and Clinics Authority, the Lower Fox
6River Remediation Authority,
the Wisconsin Student Loan Refinancing Authority, 7and the Wisconsin Economic Development Corporation.
SB21-SSA1-SA20,5,109
16.41
(4) In this section, "authority" means a body created under subch. II of
10ch. 114 or under ch. 231, 233, 234, 237, 238,
239, or 279.
SB21-SSA1-SA20,5,1312
16.417
(1) (b) "Authority" means a body created under subch. II of ch. 114 or
13ch. 231, 232, 233, 234, 237, 238,
239, or 279.
SB21-SSA1-SA20,5,2415
16.52
(7) Petty cash account. With the approval of the secretary, each agency
16that is authorized to maintain a contingent fund under s. 20.920 may establish a
17petty cash account from its contingent fund. The procedure for operation and
18maintenance of petty cash accounts and the character of expenditures therefrom
19shall be prescribed by the secretary. In this subsection, "agency" means an office,
20department, independent agency, institution of higher education, association,
21society, or other body in state government created or authorized to be created by the
22constitution or any law, that is entitled to expend moneys appropriated by law,
23including the legislature and the courts, but not including an authority created in
24subch. II of ch. 114 or in ch. 231, 233, 234, 237, 238,
239, or 279.
SB21-SSA1-SA20,6,6
116.528
(1) (a) "Agency" means an office, department, independent agency,
2institution of higher education, association, society, or other body in state
3government created or authorized to be created by the constitution or any law, that
4is entitled to expend moneys appropriated by law, including the legislature and the
5courts, but not including an authority created in subch. II of ch. 114 or in ch. 231, 233,
6234, 237, 238,
239, or 279.
SB21-SSA1-SA20,6,168
16.53
(2) Improper invoices. If an agency receives an improperly completed
9invoice, the agency shall notify the sender of the invoice within 10 working days after
10it receives the invoice of the reason it is improperly completed. In this subsection,
11"agency" means an office, department, independent agency, institution of higher
12education, association, society, or other body in state government created or
13authorized to be created by the constitution or any law, that is entitled to expend
14moneys appropriated by law, including the legislature and the courts, but not
15including an authority created in subch. II of ch. 114 or in ch. 231, 233, 234, 237, 238,
16239, or 279.
SB21-SSA1-SA20,6,2318
16.54
(9) (a) 1. "Agency" means an office, department, independent agency,
19institution of higher education, association, society or other body in state
20government created or authorized to be created by the constitution or any law, which
21is entitled to expend moneys appropriated by law, including the legislature and the
22courts, but not including an authority created in subch. II of ch. 114 or in ch. 231, 233,
23234, 237, 238,
239, or 279.
SB21-SSA1-SA20,7,11
116.765
(1) Contracting agencies, the University of Wisconsin Hospitals and
2Clinics Authority, the Fox River Navigational System Authority, the Wisconsin
3Aerospace Authority, the Lower Fox River Remediation Authority,
the Wisconsin
4Student Loan Refinancing Authority, the Wisconsin Economic Development
5Corporation, and the Bradley Center Sports and Entertainment Corporation shall
6include in all contracts executed by them a provision obligating the contractor not
7to discriminate against any employee or applicant for employment because of age,
8race, religion, color, handicap, sex, physical condition, developmental disability as
9defined in s. 51.01 (5), sexual orientation as defined in s. 111.32 (13m), or national
10origin and, except with respect to sexual orientation, obligating the contractor to take
11affirmative action to ensure equal employment opportunities.
SB21-SSA1-SA20,8,513
16.765
(2) Contracting agencies, the University of Wisconsin Hospitals and
14Clinics Authority, the Fox River Navigational System Authority, the Wisconsin
15Aerospace Authority, the Lower Fox River Remediation Authority,
the Wisconsin
16Student Loan Refinancing Authority, the Wisconsin Economic Development
17Corporation, and the Bradley Center Sports and Entertainment Corporation shall
18include the following provision in every contract executed by them: "In connection
19with the performance of work under this contract, the contractor agrees not to
20discriminate against any employee or applicant for employment because of age, race,
21religion, color, handicap, sex, physical condition, developmental disability as defined
22in s. 51.01 (5), sexual orientation or national origin. This provision shall include, but
23not be limited to, the following: employment, upgrading, demotion or transfer;
24recruitment or recruitment advertising; layoff or termination; rates of pay or other
25forms of compensation; and selection for training, including apprenticeship. Except
1with respect to sexual orientation, the contractor further agrees to take affirmative
2action to ensure equal employment opportunities. The contractor agrees to post in
3conspicuous places, available for employees and applicants for employment, notices
4to be provided by the contracting officer setting forth the provisions of the
5nondiscrimination clause".
SB21-SSA1-SA20,8,237
16.765
(5) The head of each contracting agency and the boards of directors of
8the University of Wisconsin Hospitals and Clinics Authority, the Fox River
9Navigational System Authority, the Wisconsin Aerospace Authority, the Lower Fox
10River Remediation Authority,
the Wisconsin Student Loan Refinancing Authority, 11the Wisconsin Economic Development Corporation, and the Bradley Center Sports
12and Entertainment Corporation shall be primarily responsible for obtaining
13compliance by any contractor with the nondiscrimination and affirmative action
14provisions prescribed by this section, according to procedures recommended by the
15department. The department shall make recommendations to the contracting
16agencies and the boards of directors of the University of Wisconsin Hospitals and
17Clinics Authority, the Fox River Navigational System Authority, the Wisconsin
18Aerospace Authority, the Lower Fox River Remediation Authority,
the Wisconsin
19Student Loan Refinancing Authority, the Wisconsin Economic Development
20Corporation, and the Bradley Center Sports and Entertainment Corporation for
21improving and making more effective the nondiscrimination and affirmative action
22provisions of contracts. The department shall promulgate such rules as may be
23necessary for the performance of its functions under this section.
SB21-SSA1-SA20,9,9
116.765
(6) The department may receive complaints of alleged violations of the
2nondiscrimination provisions of such contracts. The department shall investigate
3and determine whether a violation of this section has occurred. The department may
4delegate this authority to the contracting agency, the University of Wisconsin
5Hospitals and Clinics Authority, the Fox River Navigational System Authority, the
6Wisconsin Aerospace Authority, the Lower Fox River Remediation Authority,
the
7Wisconsin Student Loan Refinancing Authority, the Wisconsin Economic
8Development Corporation, or the Bradley Center Sports and Entertainment
9Corporation for processing in accordance with the department's procedures.
SB21-SSA1-SA20,23
10Section
23. 16.765 (7) (intro.) of the statutes is amended to read:
SB21-SSA1-SA20,9,2111
16.765
(7) (intro.) When a violation of this section has been determined by the
12department, the contracting agency, the University of Wisconsin Hospitals and
13Clinics Authority, the Fox River Navigational System Authority, the Wisconsin
14Aerospace Authority, the Lower Fox River Remediation Authority,
the Wisconsin
15Student Loan Refinancing Authority, the Wisconsin Economic Development
16Corporation, or the Bradley Center Sports and Entertainment Corporation, the
17contracting agency, the University of Wisconsin Hospitals and Clinics Authority, the
18Fox River Navigational System Authority, the Wisconsin Aerospace Authority, the
19Lower Fox River Remediation Authority,
the Wisconsin Student Loan Refinancing
20Authority, the Wisconsin Economic Development Corporation, or the Bradley Center
21Sports and Entertainment Corporation shall:
SB21-SSA1-SA20,9,2523
16.765
(7) (d) Direct the violating party to take immediate steps to prevent
24further violations of this section and to report its corrective action to the contracting
25agency, the University of Wisconsin Hospitals and Clinics Authority, the Fox River
1Navigational System Authority, the Wisconsin Aerospace Authority, the Lower Fox
2River Remediation Authority,
the Wisconsin Student Loan Refinancing Authority, 3the Wisconsin Economic Development Corporation, or the Bradley Center Sports
4and Entertainment Corporation.
SB21-SSA1-SA20,10,236
16.765
(8) If further violations of this section are committed during the term
7of the contract, the contracting agency, the Fox River Navigational System Authority,
8the Wisconsin Aerospace Authority, the Lower Fox River Remediation Authority,
the
9Wisconsin Student Loan Refinancing Authority, the Wisconsin Economic
10Development Corporation, or the Bradley Center Sports and Entertainment
11Corporation may permit the violating party to complete the contract, after complying
12with this section, but thereafter the contracting agency, the Fox River Navigational
13System Authority, the Wisconsin Aerospace Authority, the Lower Fox River
14Remediation Authority,
the Wisconsin Student Loan Refinancing Authority, the
15Wisconsin Economic Development Corporation, or the Bradley Center Sports and
16Entertainment Corporation shall request the department to place the name of the
17party on the ineligible list for state contracts, or the contracting agency, the Fox River
18Navigational System Authority, the Wisconsin Aerospace Authority, the Lower Fox
19River Remediation Authority,
the Wisconsin Student Loan Refinancing Authority, 20the Wisconsin Economic Development Corporation, or the Bradley Center Sports
21and Entertainment Corporation may terminate the contract without liability for the
22uncompleted portion or any materials or services purchased or paid for by the
23contracting party for use in completing the contract.
SB21-SSA1-SA20,11,15
116.865
(8) Annually in each fiscal year, allocate as a charge to each agency a
2proportionate share of the estimated costs attributable to programs administered by
3the agency to be paid from the appropriation under s. 20.505 (2) (k). The department
4may charge premiums to agencies to finance costs under this subsection and pay the
5costs from the appropriation on an actual basis. The department shall deposit all
6collections under this subsection in the appropriation account under s. 20.505 (2) (k).
7Costs assessed under this subsection may include judgments, investigative and
8adjustment fees, data processing and staff support costs, program administration
9costs, litigation costs, and the cost of insurance contracts under sub. (5). In this
10subsection, "agency" means an office, department, independent agency, institution
11of higher education, association, society, or other body in state government created
12or authorized to be created by the constitution or any law, that is entitled to expend
13moneys appropriated by law, including the legislature and the courts, but not
14including an authority created in subch. II of ch. 114 or in ch. 231, 232, 233, 234, 237,
15238,
239, or 279.
SB21-SSA1-SA20,11,1817
19.42
(10) (t) The chief executive officer and members of the board of directors
18of the Wisconsin Student Loan Refinancing Authority.
SB21-SSA1-SA20,11,2120
19.42
(13) (p) The chief executive officer and members of the board of directors
21of the Wisconsin Student Loan Refinancing Authority.
SB21-SSA1-SA20,29
22Section
29. 20.005 (3) (schedule) of the statutes: at the appropriate place,
23insert the following amounts for the purposes indicated:
-
See PDF for table ![PDF](http://docs.legis.wisconsin.gov/assets/image/file_acrobat.gif)
SB21-SSA1-SA20,12,4
220.195 Wisconsin Student Loan Refinancing Authority. There is
3appropriated to the Wisconsin Student Loan Refinancing Authority for the following
4programs:
SB21-SSA1-SA20,12,8
5(1) Student loan refinancing program. (a)
Initial funding. Biennially, the
6amounts in the schedule to fund the initial costs of operating the Wisconsin Student
7Loan Refinancing Authority and to start the student loan refinancing program under
8ch. 239.
SB21-SSA1-SA20,12,1210
39.28
(7) The board shall create on its Internet site a link to that portion of the
11department of financial institutions' Internet site created under s. 224.30 (6) (c) and
12(d).
SB21-SSA1-SA20,13,8
1439.52 Student loan debt reports.
(1) By January 1 of each year, the Board
15of Regents of the University of Wisconsin System shall provide to the board the
16average amount of student loan incurred in the previous year by resident
17undergraduate students enrolled in each institution within that system, the
18technical college system board shall provide to the board the average amount of
19student loan debt incurred in the previous year by resident undergraduate students
1enrolled in each technical college within that system, each tribally controlled college
2in this state shall provide to the board the average amount of student loan debt
3incurred in the previous year by resident undergraduate students enrolled in that
4tribally controlled college, and the Wisconsin Association of Independent Colleges
5and Universities or a successor organization shall provide to the board the average
6amount of student loan debt incurred in the previous year by resident undergraduate
7students enrolled in each of the private, nonprofit accredited institutions of higher
8education in this state.
SB21-SSA1-SA20,13,9
9(2) By March 1 of each year, the board shall do all of the following:
SB21-SSA1-SA20,13,1310
(a) Compile the information provided to the board under sub. (1) and, from that
11information, compute the statewide average amount of student loan debt incurred
12in the previous year by resident undergraduate students enrolled in the institutions
13specified in sub. (1).
SB21-SSA1-SA20,13,1614
(b) Compare the amount computed under par. (a) to the national average
15amount of student loan debt incurred in the previous year by undergraduate
16students enrolled in institutions of higher education in the United States.
SB21-SSA1-SA20,13,2017
(c) Compare the amount computed under par. (a) to the statewide average
18amount of student loan debt incurred in the previous year by undergraduate
19students in the state with the lowest ratio of statewide average student loan debt to
20the lowest quintile of state per capita income.
SB21-SSA1-SA20,13,2521
(d) Submit to the joint committee on finance a report regarding student loan
22debt incurred in the previous year by resident undergraduate students at the
23institutions specified in sub. (1). The report shall include the information provided
24to the board under sub. (1), the statewide average amount of student loan debt
25computed under par. (a), and the comparisons described in pars. (b) and (c).
SB21-SSA1-SA20,14,8
239.54 Student lending transparency.
(1) In this section, "institution of
3higher education" means an institution or college campus within the University of
4Wisconsin System, a technical college within the technical college system, a tribally
5controlled college, or a private, nonprofit institution of higher education located in
6this state that provides an educational program for which the institution awards an
7associate degree or higher or provides a program that is acceptable toward such a
8degree.
SB21-SSA1-SA20,14,11
9(2) Each institution of higher education shall provide to a prospective or newly
10accepted student and to the student's parents clearly outlined and
11easy-to-understand information pertaining to all of the following:
SB21-SSA1-SA20,14,1212
(a) The total cost of attendance at the institution of higher education.
SB21-SSA1-SA20,14,1713
(b) The approximate or, if known, the actual total amount of financial aid that
14the student would receive from the institution of higher education, and the
15approximate or, if known, the actual total amount of student loan debt that the
16student would accumulate, over the course of 4 years if the student were to attend
17the institution of higher education for 4 years.
SB21-SSA1-SA20,14,2018
(c) Student loan rates, repayment plans, default rates, and the actual monthly
19payment that would be required to pay the student loan debt described in par. (b)
20when the loan becomes due.
SB21-SSA1-SA20,14,23
21(3) Each institution of higher education shall create on its Internet site a link
22to that portion of the department of financial institutions' Internet site created under
23s. 224.30 (6) (c) and (d).
SB21-SSA1-SA20,15,5
139.56 Loan counseling.
(1) Definition. In this section, "institution of higher
2education" means an institution or college campus within the University of
3Wisconsin System, a technical college under ch. 38, or any private, nonprofit,
4educational institution located in this state that provides an educational program for
5which it awards an associate degree or higher.
SB21-SSA1-SA20,15,9
6(2) Applicability. This section applies to any student loan offered by an
7institution of higher education or a private lender or recommended to a student by
8an institution of higher education, other than a federally funded, federally insured,
9or federally guaranteed loan for which counseling is required by
20 USC 1092.
SB21-SSA1-SA20,15,17
10(3) Entrance counseling. (a) Before a student enters into a student loan
11agreement, an institution of higher education shall provide the student with
12comprehensive information on the terms and conditions of a loan and the
13responsibilities the student has with respect to the loan. The institution shall
14provide the information during a counseling session conducted in person, on a
15written form provided to the student that the student signs and returns, or online,
16with the student acknowledging receipt of the information. The information
17provided shall include all of the following:
SB21-SSA1-SA20,15,1918
1. To the extent practicable, the effect of accepting the loan to be disbursed on
19the eligibility of the borrower for other forms of student financial assistance.
SB21-SSA1-SA20,15,2120
2. How interest accrues and is capitalized during periods when the interest is
21not paid by the borrower.
SB21-SSA1-SA20,15,2422
3. The definitions of full-time and half-time enrollment at the institution of
23higher education, during regular terms and intersession terms, if applicable, and the
24consequences of not maintaining full-time or half-time enrollment.
SB21-SSA1-SA20,16,3
14. The importance of contacting the appropriate office at the institution of
2higher education if the borrower withdraws before completing his or her program of
3study so that the institution can provide counseling under sub. (4).
SB21-SSA1-SA20,16,54
5. Sample monthly repayment amounts, based on a range of levels of
5indebtedness.
SB21-SSA1-SA20,16,86
6. The obligation of the borrower to repay the full amount of the loan,
7irrespective of whether the borrower completes his or her program of study at the
8institution.
SB21-SSA1-SA20,16,109
7. The likely consequences of default on the loan, including adverse credit
10reports, delinquent debt collection procedures, and litigation.
SB21-SSA1-SA20,16,1211
8. Whether the student has reached the limit on his or her federal student loan
12opportunities.
SB21-SSA1-SA20,16,1513
9. The name of, and contact information for, an individual the borrower may
14contact if he or she has any questions about the borrower's rights and responsibilities
15or the terms and conditions of the loan.
SB21-SSA1-SA20,16,2016
10. How a student or any member of the public may file a complaint about a
17lender with the federal Consumer Financial Protection Bureau by calling a toll-free
18telephone number, or by completing a complaint form, which may be obtained on the
19bureau's Internet site. The institution of higher education shall also include the
20toll-free telephone number and Internet site address of the bureau.
SB21-SSA1-SA20,16,2221
(b) In conjunction with providing information under par. (a), the institution of
22higher education shall also do all of the following:
SB21-SSA1-SA20,16,2523
1. Clearly distinguish private loans from federal loans in individual financial
24aid awards by stating, for any private loans included by the institution as part of the
25institution's award package, all of the following:
SB21-SSA1-SA20,17,1
1a. Whether the rate is fixed or variable.
SB21-SSA1-SA20,17,32
b. An explanation that private student loan lenders can offer variable interest
3rates that can increase or decrease over time, depending on market conditions.