Amendment AA7-ASA1-AB759

LRBa2269/1

ARG:amn

2017 - 2018 LEGISLATURE

ASSEMBLY AMENDMENT 7, TO ASSEMBLY SUBSTITUTE AMENDMENT 1, TO ASSEMBLY BILL 759

February 20, 2018 - Offered by Representative Petryk.

AB759-ASA1-AA7,1,1 At the locations indicated, amend the substitute amendment as follows:

AB759-ASA1-AA7,1,2 1. Page 1, line 2: delete “and granting" and substitute “, granting".

AB759-ASA1-AA7,1,3 2. Page 1, line 3: after “authority" insert “, and making an appropriation".

AB759-ASA1-AA7,1,4 3. Page 5, line 1: before that line insert:

AB759-ASA1-AA7,1,6 “ Section 1d. 20.144 (1) (g) of the statutes, as affected by 2017 Wisconsin Act 59, is amended to read:

AB759-ASA1-AA7,2,3 20.144 (1) (g) General program operations. The amounts in the schedule for the general program operations of the department of financial institutions. Except as provided in pars. (a), (h), (i), (j), (jm), and (u) and sub. (3), all moneys received by the department, other than by the office of credit unions and the division of banking, and 88 percent of all moneys received by the office of credit unions and the department's division of banking shall be credited to this appropriation, but any balance at the close of a fiscal year under this appropriation shall lapse to the general fund. Annually, $150,000 of the amounts received under this appropriation account shall be transferred to the appropriation account under s. 20.575 (1) (g).

AB759-ASA1-AA7,1g Section 1g. 20.144 (1) (jm) of the statutes is created to read:

AB759-ASA1-AA7,2,6 20.144 (1) (jm) Rental-purchase company payments funding financial literacy. All moneys received under s. 420.12 (4) for promoting financial literacy.” .

AB759-ASA1-AA7,2,7 4. Page 17, line 15: after that line insert:

AB759-ASA1-AA7,2,14 “(4) Additional payment funding financial literacy. In addition to the annual fee under sub. (3), a rental-purchase company shall pay to the department with the annual fee an amount equal to $1 for each original rental-purchase agreement, not including reinstatement of a rental-purchase agreement, entered into by the rental-purchase company during the 12-month period covered by the report under sub. (2). All payments received under this subsection shall be credited to the appropriation account under s. 20.144 (1) (jm).”.

AB759-ASA1-AA7,2,15 (End)