AB68-ASA2-AA6,114,4 4 Section 364o. 238.137 of the statutes is created to read:
AB68-ASA2-AA6,114,10 5238.137 Small business pandemic recovery program. The corporation
6shall aid in the state's economic recovery from the COVID-19 global pandemic by
7providing financial assistance to small businesses adversely affected by the
8pandemic, including for the retention of current employees and the rehiring of former
9employees. The corporation shall, as necessary, coordinate with the department of
10revenue in the administration of the program under this section.”.
AB68-ASA2-AA6,114,11 1179. Page 340, line 17: after that line insert:
AB68-ASA2-AA6,114,12 12 Section 364p. 238.139 of the statutes is created to read:
AB68-ASA2-AA6,114,16 13238.139 Financial assistance for underserved communities. The
14corporation shall expend $5,000,000 annually to provide grants, loans, and other
15assistance to underserved communities in this state, including members of minority
16groups, woman-owned businesses, and individuals and businesses in rural areas.”.
AB68-ASA2-AA6,114,17 1780. Page 340, line 17: after that line insert:
AB68-ASA2-AA6,114,18 18 Section 364q. 238.145 of the statutes is created to read:
AB68-ASA2-AA6,114,20 19238.145 Venture capital fund of funds program. (1) Definitions. In this
20section:
AB68-ASA2-AA6,114,2221 (a) “Investment manager” means the person with whom the oversight board
22enters into a contract under sub. (4).
AB68-ASA2-AA6,114,2323 (b) “Oversight board” means the oversight board created under sub. (2) (c).
AB68-ASA2-AA6,115,4
1(2) Establishment of program. The corporation shall establish and administer
2a fund of funds program to invest moneys in venture capital funds that invest in
3businesses located in this state, subject to the requirements of this section. In
4establishing the program, the corporation shall do all of the following:
AB68-ASA2-AA6,115,55 (a) Create a fund of funds.
AB68-ASA2-AA6,115,66 (b) Provide that the fund of funds will continuously reinvest its assets.
AB68-ASA2-AA6,115,87 (c) Create an oversight board to conduct any activity as required by this section
8or as directed by the corporation.
AB68-ASA2-AA6,115,14 9(3) Investments in venture capital funds. (a) The investment manager shall
10request from the corporation monies to make investments through the program
11established under sub. (2) and to pay the investment manager's management fee,
12and the corporation shall, subject to the approval of the secretary of the department
13of administration, pay the monies to the investment manager from the appropriation
14under s. 20.192 (1) (c).
AB68-ASA2-AA6,115,1615 (b) The oversight board shall establish investment policies for the program
16established under sub. (2), subject to all of the following conditions:
AB68-ASA2-AA6,115,2017 1. All moneys paid to the investment manager under par. (a) to make
18investments shall be committed for investment to venture capital funds, subject to
19the requirements of this section, no later than 60 months after the creation of the
20fund of funds under sub. (2) (a).
AB68-ASA2-AA6,115,2321 2. No more than $25,000,000 of the total moneys paid to the investment
22manager under par. (a) to make investments may be invested in any single venture
23capital fund.
AB68-ASA2-AA6,115,2524 3. At least 20 percent of the investments made through the program shall be
25directed to any combination of the following:
AB68-ASA2-AA6,116,2
1a. Businesses located in parts of this state that typically do not receive
2significant investment from venture capital funds.
AB68-ASA2-AA6,116,53 b. Businesses that are at least 51 percent owned by one or more members of a
4racial minority group and the management and daily business operations of which
5are controlled by one or more members of a racial minority group.
AB68-ASA2-AA6,116,86 c. Businesses that are at least 51 percent owned by one or more women and the
7management and daily business operations of which are controlled by one or more
8women.
AB68-ASA2-AA6,116,99 (c) No investment may be made through the program in a lobbying or law firm.
AB68-ASA2-AA6,116,14 10(4) Investment manager. The oversight board shall contract with an
11investment manager who meets the qualifications established by the corporation.
12The contract shall establish the investment manager's compensation, including any
13management fee. A management fee may not annually exceed 1 percent of the total
14assets under management in the program established under sub. (2).
AB68-ASA2-AA6,116,18 15(5) Venture capital fund requirements. The investment manager shall
16contract with each venture capital fund that receives moneys through the program
17established under sub. (2). Each contract shall require the venture capital fund to
18do all of the following:
AB68-ASA2-AA6,116,2119 (a) Make new investments in an amount equal to the amount of moneys it
20receives through the program in one or more businesses who are headquartered in
21this state and whose operations are primarily in this state.
AB68-ASA2-AA6,117,322 (b) At least match any moneys it receives through the program and invests in
23a business described in par. (a) with an investment in that business of moneys the
24venture capital fund has raised from sources other than the program. The
25investment manager shall ensure that, on average, for every $1 a venture capital

1fund receives through the program and invests in a business described in par. (a), the
2venture capital fund invests $2 in that business from sources other than the
3program.
AB68-ASA2-AA6,117,54 (c) Provide to the investment manager the information necessary for the
5investment manager to complete the reports under sub. (6) (a) and (c).
AB68-ASA2-AA6,117,9 6(6) Reports of the investment manager; public disclosures. (a) Annually, no
7later than 120 days after the end of the investment manager's fiscal year, the
8investment manager shall submit to the corporation a report for that fiscal year that
9includes all of the following:
AB68-ASA2-AA6,117,1110 1. An audit of the investment manager's financial statements performed by an
11independent certified public accountant.
AB68-ASA2-AA6,117,1312 2. The investment manager's internal rate of return from investments made
13through the program established under sub. (2).
AB68-ASA2-AA6,117,1514 3. For each venture capital fund that contracts with the investment manager
15under sub. (5), all of the following:
AB68-ASA2-AA6,117,1616 a. The name and address of the venture capital fund.
AB68-ASA2-AA6,117,1817 b. The amounts invested in the venture capital fund through the program
18established under sub. (2).
AB68-ASA2-AA6,117,2019 c. An accounting of any fee the venture capital fund paid to itself or any
20principal or manager of the venture capital fund.
AB68-ASA2-AA6,117,2221 d. The venture capital fund's average internal rate of return on its investments
22of the moneys it received through the program established under sub. (2).
AB68-ASA2-AA6,117,2423 4. For each business in which a venture capital fund held an investment of
24moneys received through the program established under sub. (2), all of the following:
AB68-ASA2-AA6,117,2525 a. The name and address of the business.
AB68-ASA2-AA6,118,1
1b. A description of the nature of the business.
AB68-ASA2-AA6,118,22 c. The identification of the venture capital fund.
AB68-ASA2-AA6,118,43 d. The amount of the investment and the amount invested by the venture
4capital fund from funding sources other than the program.
AB68-ASA2-AA6,118,65 e. The internal rate of return realized by the venture capital fund upon the
6venture capital fund's exit from the investment in the business.
AB68-ASA2-AA6,118,107 f. A statement of the number of employees the business employed when the
8venture capital fund first invested moneys received through the program and the
9number of employees the business employed on the first day and last day of the
10investment manager's fiscal year.
AB68-ASA2-AA6,118,1311 (b) No later than 10 days after it receives the investment manager's report
12under par. (a), the corporation shall submit the report to the chief clerk of each house
13of the legislature, for distribution to the legislature under s. 13.172 (2).
AB68-ASA2-AA6,118,1514 (c) Quarterly, the investment manager shall submit to the oversight board a
15report for the preceding quarter that includes all of the following:
AB68-ASA2-AA6,118,1716 1. An identification of each venture capital fund under contract with the
17investment manager under sub. (5).
AB68-ASA2-AA6,118,2018 2. An identification of each business in which a venture capital fund held an
19investment of moneys received through the program established under sub. (2) and
20a statement of the amount of the investment in each business.
AB68-ASA2-AA6,118,2421 3. A statement of the number of employees the business employed when the
22venture capital fund first invested moneys received through the program established
23under sub. (2) and the number of employees the business employed on the last day
24of the quarter.
AB68-ASA2-AA6,119,2
1(d) The oversight board shall make the reports under par. (c) readily accessible
2to the public on the corporation's Internet site.
AB68-ASA2-AA6,119,4 3(7) Policies and procedures. The corporation shall establish policies and
4procedures to administer this section.”.
AB68-ASA2-AA6,119,5 581. Page 340, line 17: after that line insert:
AB68-ASA2-AA6,119,6 6 Section 364r. 238.29 of the statutes is created to read:
AB68-ASA2-AA6,119,9 7238.29 Tribal economic development. The corporation shall establish and
8administer economic development programs to promote small business economic
9development benefitting American Indian tribes or bands in this state.”.
AB68-ASA2-AA6,119,10 1082. Page 355, line 11: after that line insert:
AB68-ASA2-AA6,119,11 11 Section 416h. 946.15 of the statutes is created to read:
AB68-ASA2-AA6,120,2 12946.15 Public construction contracts at less than full rate. (1) Any
13employer, or any agent or employee of an employer, who induces any individual who
14seeks to be or is employed pursuant to a public contract, as defined in s. 66.0901 (1)
15(c), or who seeks to be or is employed on a project on which a prevailing wage rate
16determination has been issued by the department of workforce development under
17s. 66.0903 (3), 103.49 (3), 103.50 (3), or 229.8275 (3) to give up, waive, or return any
18part of the compensation to which that individual is entitled under his or her contract
19of employment or under the prevailing wage rate determination issued by the
20department, or who reduces the hourly basic rate of pay normally paid to an
21employee for work on a project on which a prevailing wage rate determination has
22not been issued under s. 66.0903 (3), 103.49 (3), 103.50 (3), or 229.8275 (3) during a
23week in which the employee works both on a project on which a prevailing wage rate

1determination has been issued and on a project on which a prevailing wage rate
2determination has not been issued, is guilty of a Class I felony.
AB68-ASA2-AA6,120,15 3(2) Any individual employed pursuant to a public contract, as defined in s.
466.0901 (1) (c), or employed on a project on which a prevailing wage rate
5determination has been issued by the department of workforce development under
6s. 66.0903 (3), 103.49 (3), 103.50 (3), or 229.8275 (3) who gives up, waives, or returns
7to the employer or agent of the employer any part of the compensation to which the
8employee is entitled under his or her contract of employment or under the prevailing
9wage determination issued by the department, or who gives up any part of the
10compensation to which he or she is normally entitled for work on a project on which
11a prevailing wage rate determination has not been issued under s. 66.0903 (3),
12103.49 (3), 103.50 (3), or 229.8275 (3) during a week in which the individual works
13part-time on a project on which a prevailing wage rate determination has been
14issued and part-time on a project on which a prevailing wage rate determination has
15not been issued, is guilty of a Class C misdemeanor.
AB68-ASA2-AA6,120,24 16(3) Any employer or labor organization, or any agent or employee of an
17employer or labor organization, who induces any individual who seeks to be or is
18employed on a project on which a prevailing wage rate determination has been issued
19by the department of workforce development under s. 66.0903 (3), 103.49 (3), 103.50
20(3), or 229.8275 (3) to allow any part of the wages to which that individual is entitled
21under the prevailing wage rate determination issued by the department or local
22governmental unit to be deducted from the individual's pay is guilty of a Class I
23felony, unless the deduction would be allowed under 29 CFR 3.5 or 3.6 from an
24individual who is working on a project that is subject to 40 USC 3142.
AB68-ASA2-AA6,121,8
1(4) Any individual employed on a project on which a prevailing wage rate
2determination has been issued by the department of workforce development under
3s. 66.0903 (3), 103.49 (3), 103.50 (3), or 229.8275 (3) who allows any part of the wages
4to which that individual is entitled under the prevailing wage rate determination
5issued by the department or local governmental unit to be deducted from his or her
6pay is guilty of a Class C misdemeanor, unless the deduction would be allowed under
729 CFR 3.5 or 3.6 from an individual who is working on a project that is subject to
840 USC 3142.”.
AB68-ASA2-AA6,121,9 983. Page 355, line 11: after that line insert:
AB68-ASA2-AA6,121,10 10 Section 416m. 947.20 of the statutes is repealed.” .
AB68-ASA2-AA6,121,11 1184. Page 355, line 20: after that line insert:
AB68-ASA2-AA6,121,12 12 Section 417m. 978.05 (6) (a) of the statutes is amended to read:
AB68-ASA2-AA6,122,213 978.05 (6) (a) Institute, commence, or appear in all civil actions or special
14proceedings under and perform the duties set forth for the district attorney under ch.
15980 and ss. 17.14, 30.03 (2), 48.09 (5), 59.55 (1), 59.64 (1), 70.36, 89.08, 103.50 (8),
16103.92 (4), 109.09, 343.305 (9) (a), 806.05, 938.09, 938.18, 938.355 (6) (b) and (6g) (a),
17946.86, 946.87, 961.55 (5), 971.14 and 973.075 to 973.077, perform any duties in
18connection with court proceedings in a court assigned to exercise jurisdiction under
19chs. 48 and 938 as the judge may request and perform all appropriate duties and
20appear if the district attorney is designated in specific statutes, including matters
21within chs. 782, 976 and 979 and ss. 51.81 to 51.85. Nothing in this paragraph limits
22the authority of the county board to designate, under s. 48.09 (5), that the corporation
23counsel provide representation as specified in s. 48.09 (5) or to designate, under s.

148.09 (6) or 938.09 (6), the district attorney as an appropriate person to represent the
2interests of the public under s. 48.14 or 938.14.”.
AB68-ASA2-AA6,122,4 385. Page 358, line 16: delete the material beginning with that line and ending
4on page 379, line 1, and substitute:
AB68-ASA2-AA6,122,7 5“(1) Authorized State Building Program. For the fiscal years beginning on
6July 1, 2021, and ending on June 30, 2023, the Authorized State Building Program
7is as follows: - See PDF for table PDF
AB68-ASA2-AA6,144,21 (2) Programs previously authorized. In addition to the projects and
2financing”.
AB68-ASA2-AA6,144,3 386. Page 382, line 1: delete “1. a." and substitute “1. b.".
AB68-ASA2-AA6,144,4 487. Page 382, line 14: delete “1. d. and 2. b." and substitute “1. g. and 2. d.".
AB68-ASA2-AA6,144,5 588. Page 382, line 25: after that line insert:
AB68-ASA2-AA6,144,7 6“(7r) University of Wisconsin System instructional space projects program;
7Groups 1 and 2 projects.
AB68-ASA2-AA6,144,98 (a) Group 1. The amounts specified under sub. (1) (h) 1. a. shall be expended
9for the following projects:
AB68-ASA2-AA6,144,1010 1. UW–Eau Claire — Haas Fine Arts art and design studio renovation.
AB68-ASA2-AA6,144,1111 2. UW–Green Bay — studio arts visual arts laboratory renovation.
AB68-ASA2-AA6,144,1312 3. UW–River Falls — Agricultural Science Plant and Earth Science Laboratory
13renovation.
AB68-ASA2-AA6,145,1
14. UW–Whitewater — Center of the Arts Metals Laboratory renovation.
AB68-ASA2-AA6,145,32 5. UW–La Crosse — Wing Technology Center computer science laboratory
3renovation.
AB68-ASA2-AA6,145,44 6. UW–Oshkosh — Arts and Communication Center Music Hall renovation.
AB68-ASA2-AA6,145,65 7. UW–Milwaukee — Engelmann Hall hybrid active learning/lecture hall
6renovation.
AB68-ASA2-AA6,145,87 (b) Group 2. The amounts specified under sub. (1) (h) 1. f. shall be expended
8for the following projects:
AB68-ASA2-AA6,145,99 1. UW–Parkside — Greenquist Hall Laboratory 363/365 renovation.
AB68-ASA2-AA6,145,1010 2. UW–Whitewater — Center of the Arts 3D Design Laboratory renovation.
AB68-ASA2-AA6,145,1111 3. UW–Madison — Van Hise Hall first floor classroom renovations.
AB68-ASA2-AA6,145,1212 4. UW–Madison — Brogden Psychology Lecture Hall 105 renovation.
AB68-ASA2-AA6,145,1313 5. UW–Madison — Animal Science Lecture Hall 212 renovation.
AB68-ASA2-AA6,145,1514 6. UW–Green Bay — Mary Ann Cofrin Hall/Wood Hall health care skills and
15simulation laboratory renovation.
AB68-ASA2-AA6,145,1716 7. UW–Stevens Point — Science Building D-Wing Clinical Laboratory science
17and medical technology renovation.
AB68-ASA2-AA6,145,2118 (7s) State historical society headquarters; phase II. From the appropriation
19under s. 20.867 (2) (r), the building commission shall allocate $4,000,000 to develop
20preliminary plans and specifications for phase II of the renovation of the state
21historical society headquarters in the city of Madison.”.
AB68-ASA2-AA6,145,22 2289. Page 386, line 15: after that line insert:
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