SB70-AA1,28,2320 2. The program may also offer options for account types other than a Roth IRA,
21and if other options are offered, the program shall allow an enrolled eligible employee
22to select any of these other account types for investing contributions under the
23program.
SB70-AA1,29,3
1(b) 1. The program under this section shall provide an eligible employee who
2has enrolled in the program with at least 5 investment options within each account
3type, including all of the following investment options:
SB70-AA1,29,44 a. A stable value or capital preservation fund.
SB70-AA1,29,65 b. A target date index fund or age-based fund that automatically rebalances
6asset allocations based on the eligible employee's age.
SB70-AA1,29,77 c. A low-cost fund focused on income generation.
SB70-AA1,29,88 d. A low-cost fund focused on asset growth.
SB70-AA1,29,99 e. A low-cost fund focused on balancing risk and return.
SB70-AA1,29,1410 2. The program under this section shall require the investment administrator
11to offer to each enrolled eligible employee, before the employee makes his or her
12investment selections, a tool allowing the employee to identify the employee's risk
13tolerance and projected retirement date as an aid to the employee in selecting
14suitable investments under the program.
SB70-AA1,29,1815 3. The program under this section shall require that the first $1,000 of an
16enrolled eligible employee's contributions be deposited in a fund described in subd.
171. a. and thereafter, unless the employee selects a different investment option, the
18employee's contributions be deposited in a fund described in subd. 1. b.
SB70-AA1,29,2319 (c) 1. Except as provided in subds. 3. and 4., during an eligible employee's first
20year of enrollment in the program, the participating employer's payroll deduction
21each pay period shall be at a rate of 5 percent of the employee's gross wages, and this
22deducted amount shall be remitted to the investment administrator as the
23employee's account contribution.
SB70-AA1,30,3
12. Except as provided in subds. 3. and 4., a participating employer shall
2increase the payroll deduction rate under subd. 1. by 1 percent per year until a
3maximum payroll deduction rate of 10 percent is reached.
SB70-AA1,30,64 3. An enrolled eligible employee may elect a different payroll deduction rate
5than that provided for in subds. 1. and 2., except the rate may not be less than 1
6percent nor more than 10 percent.
SB70-AA1,30,107 4. A participating employer shall make a good faith effort to establish an
8employee's payroll deduction at a rate that will not result in the employee's total
9annual contributions exceeding the contribution limits established under sub. (3) (g),
10but the participating employer is not responsible if excess contributions occur.
SB70-AA1,30,14 11(6) Record-keeping requirements. (a) Subject to par. (b), the board shall
12establish the record-keeping requirements for the investment administrator,
13including the nature and extent of the record-keeping services and performance
14metrics for measuring compliance with these requirements.
SB70-AA1,30,1615 (b) The program shall require the maintenance of separate records and
16accounting for each account.
SB70-AA1,30,18 17(7) Abandoned accounts. (a) An account is considered abandoned if any of the
18following applies:
SB70-AA1,30,2019 1. There has been no account activity for at least 6 months and the account
20balance is less than $250.
SB70-AA1,30,2121 2. There has been no account activity for at least 2 years.
SB70-AA1,30,2422 (b) If an account is considered abandoned under par. (a), the investment
23administrator shall close the account and disburse the account balance to the
24individual who established the account.
SB70-AA1,31,2
1(8) Powers of board; departmental assistance; rules. (a) The board may do
2any of the following:
SB70-AA1,31,53 1. In establishing the program under this section, create or impose any
4requirement or condition not inconsistent with this section that the board considers
5necessary for the effective functioning and widespread utilization of the program.
SB70-AA1,31,96 2. Enter into contracts or other arrangements for any services necessary for
7establishing and overseeing the program under this section or for otherwise carrying
8out the purposes of this section, including the services of financial institutions,
9attorneys, investment advisers, accountants, consultants, and other professionals.
SB70-AA1,31,1110 3. Exercise any other powers necessary to establish and oversee the program
11under this section or otherwise carry out the purposes of this section.
SB70-AA1,31,1212 4. Promulgate rules to carry out the purposes of this section.
SB70-AA1,31,1613 (b) The department shall provide the board with any assistance necessary to
14carry out the purposes of this section, including staff, equipment, and office space.
15The board may delegate to the department responsibility for carrying out any
16day-to-day board function related to the program under this section.
SB70-AA1,9116 17Section 9116. Nonstatutory provisions; Financial Institutions.
SB70-AA1,31,2118 (1) Small business retirement savings board; staggered terms.
19Notwithstanding the length of terms specified for the members of the small business
20retirement savings board under s. 15.185 (6) (b), the members appointed under s.
2115.185 (6) (a) 2., 4., and 6. shall be appointed for initial terms expiring on May 1, 2025.
SB70-AA1,31,2522 (2) Small business retirement savings program position. The authorized FTE
23positions for the department of financial institutions are increased by 1.0 PR
24position, to be funded from the appropriation under s. 20.144 (4) (g), to establish and
25administer the small business retirement savings program under s. 224.56.”.
SB70-AA1,32,1
1113. Page 374, line 11: after that line insert:
SB70-AA1,32,3 2 Section 23 . 20.005 (3) (schedule) of the statutes: at the appropriate place,
3insert the following amounts for the purposes indicated: - See PDF for table PDF - See PDF for table PDF
SB70-AA1,24 4Section 24. 20.437 (2) (c) of the statutes is created to read:
SB70-AA1,32,65 20.437 (2) (c) Child care quality improvement program. The amounts in the
6schedule for the program under s. 49.133.
SB70-AA1,25 7Section 25. 49.133 of the statutes is created to read:
SB70-AA1,32,13 849.133 Child care quality improvement program. (1) The department
9may establish a program under which it may, from the appropriation under s. 20.437
10(2) (c) and under s. 49.175 (1) (qm), make monthly payments and monthly per-child
11payments to child care providers certified under s. 48.651, child care centers licensed
12under s. 48.65, and child care programs established or contracted for by a school
13board under s. 120.13 (14).
SB70-AA1,32,16 14(2) The department may promulgate rules to implement the program under
15this section, including establishing eligibility requirements and payment amounts
16and setting requirements for how recipients may use the payments.
SB70-AA1,26 17Section 26. 49.155 (6) (e) 2. of the statutes is repealed.
SB70-AA1,27 18Section 27. 49.155 (6) (e) 3. (intro.) of the statutes is amended to read:
SB70-AA1,33,3
149.155 (6) (e) 3. (intro.) The department may modify a child care provider's
2maximum payment rate under subd. 2. pars. (a) to (c) on the basis of the provider's
3quality rating, as described in the quality rating plan, in the following manner:
SB70-AA1,33,104 (2a) Child care quality improvement program. Using the procedure under s.
5227.24, the department of children and families may promulgate the rules
6authorized under s. 49.133 (2) as emergency rules. Notwithstanding s. 227.24 (1) (a)
7and (3), the department of children and families is not required to provide evidence
8that promulgating a rule under this subsection as an emergency rule is necessary for
9the preservation of the public peace, health, safety, or welfare and is not required to
10provide a finding of emergency for a rule promulgated under this subsection.” .
SB70-AA1,33,11 11114. Page 374, line 11: after that line insert:
SB70-AA1,33,12 12 Section 28. 16.3069 of the statutes is created to read:
SB70-AA1,33,17 1316.3069 Whole-home upgrade grants. (1) Grants. (a) From the
14appropriation under s. 20.505 (7) (fr), the department shall award one or more grants
15to the Walnut Way Conservation Corporation and Elevate, Inc., for the purpose of
16funding home improvements in low-income households in a 1st class city that have
17one or more of the following goals:
SB70-AA1,33,1818 1. Reducing carbon emissions.
SB70-AA1,33,1919 2. Reducing energy burdens.
SB70-AA1,33,2020 3. Creating cost savings.
SB70-AA1,33,2121 4. Creating healthier living environments.
SB70-AA1,33,2322 (b) The department may establish eligibility requirements and other program
23guidelines for the grant program under this subsection.
SB70-AA1,33,24 24(2) Sunset. No grants may be awarded under sub. (1) after June 30, 2025.
SB70-AA1,29
1Section 29. 20.005 (3) (schedule) of the statutes: at the appropriate place,
2insert the following amounts for the purposes indicated: - See PDF for table PDF
SB70-AA1,30 3Section 30. 20.505 (7) (fr) of the statutes is created to read:
SB70-AA1,34,54 20.505 (7) (fr) Whole-home upgrade grants. Biennially, the amounts in the
5schedule for grants under s. 16.3069.”.
SB70-AA1,34,6 6115. Page 374, line 11: after that line insert:
SB70-AA1,34,7 7 Section 31. 20.144 (1) (g) of the statutes is amended to read:
SB70-AA1,34,168 20.144 (1) (g) General program operations. The amounts in the schedule for
9the general program operations of the department of financial institutions. Except
10as provided in pars. (a), (h), (i), (j), and (u) and sub. (3), all moneys received by the
11department, other than by the office of credit unions and the division of banking, and
1288 percent of all moneys received by the office of credit unions and the department's
13division of banking shall be credited to this appropriation, but any balance at the
14close of a fiscal year under this appropriation shall lapse to the general fund.
15Annually, $150,000 $260,000 of the amounts received under this appropriation
16account shall be transferred to the appropriation account under s. 20.575 (1) (g).”.
SB70-AA1,34,17 17116. Page 374, line 11: after that line insert:
SB70-AA1,34,18 18 Section 32. 71.05 (6) (a) 28. of the statutes is amended to read:
SB70-AA1,35,3
171.05 (6) (a) 28. Upon the termination of an account as described under s.
216.643 or 224.55, any amount in the account that is returned to an account owner's
3estate.
SB70-AA1,33 4Section 33. 224.55 of the statutes is created to read:
SB70-AA1,35,6 5224.55 Support accounts for individuals with disabilities. (1)
6Definitions. In this section:
SB70-AA1,35,77 (a) “ABLE account" means an account established under an ABLE program.
SB70-AA1,35,98 (b) “ABLE program” means a qualified ABLE program under section 529A of
9the Internal Revenue Code.
SB70-AA1,35,14 10(2) Department to establish ABLE program. (a) Implementation directly or
11by agreement.
The department shall implement and administer an ABLE program,
12either directly or by entering into a formal or informal agreement with another state,
13or with an entity representing an alliance of states, to establish an ABLE program
14or otherwise administer ABLE program services for the residents of this state.
SB70-AA1,35,2015 (b) Review of other states' partnership programs. The department shall review
16section 529A ABLE state partnership programs offered by other states and, no later
17than the first day of the 10th month beginning after the effective date of this
18paragraph .... [LRB inserts date], determine whether, as the best option for
19Wisconsin residents, the department will implement the ABLE program under par.
20(a) directly or by entering into an agreement.
SB70-AA1,35,2321 (c) Agreement terms. An agreement under par. (a) may require the party
22contracting with the department, in addition to providing any other services, to do
23any of the following:
SB70-AA1,36,324 1. Develop and implement an ABLE program in accordance with all
25requirements under section 529A of the Internal Revenue Code, and modify this

1ABLE program as necessary for participants in the ABLE program to qualify for the
2federal income tax benefits or treatment provided under section 529A of the Internal
3Revenue Code and rules adopted under section 529A.
SB70-AA1,36,64 2. Engage the services of vendors on a contractual basis for rendering
5professional and technical assistance and advice in developing marketing plans and
6promotional materials to publicize the ABLE program.
SB70-AA1,36,97 3. Work with organizations with expertise in supporting people with
8disabilities and their families in administering the agreement and ensuring
9accessibility of the ABLE program for people with disabilities.
SB70-AA1,36,1110 4. Take any other action necessary to implement and administer the ABLE
11program.
SB70-AA1,36,1312 (d) Information about ABLE accounts. The department shall include on its
13website information concerning ABLE accounts.
SB70-AA1,36,15 14(3) Confidentiality. The department shall keep confidential any personal and
15financial information maintained by the department relating to an ABLE account.
SB70-AA1,36,17 16(4) Funding; rules. (a) All expenses incurred by the department under this
17section shall be paid from the appropriation under s. 20.144 (1) (g).
SB70-AA1,36,1918 (b) The department may promulgate rules to implement and administer this
19section.”.
SB70-AA1,36,20 20117. Page 374, line 11: after that line insert:
SB70-AA1,36,21 21 Section 34. 16.3078 of the statutes is created to read:
SB70-AA1,37,2 2216.3078 Rental assistance grants for homeless veterans. From the
23appropriation under s. 20.505 (7) (bq), the department shall award grants to each
24continuum of care organization in this state designated by the federal department

1of housing and urban development. All grant funds shall be used to provide
2tenant-based rental assistance to homeless veterans in this state.
SB70-AA1,35 3Section 35. 20.005 (3) (schedule) of the statutes: at the appropriate place,
4insert the following amounts for the purposes indicated: - See PDF for table PDF
SB70-AA1,36 5Section 36. 20.505 (7) (bq) of the statutes is created to read:
SB70-AA1,37,76 20.505 (7) (bq) Rental assistance for homeless veterans. The amounts in the
7schedule for the rental assistance grants awarded under s. 16.3078.”.
SB70-AA1,37,8 8118. Page 374, line 11: after that line insert:
SB70-AA1,37,9 9 Section 37. 13.121 (4) of the statutes is amended to read:
SB70-AA1,37,1810 13.121 (4) Insurance. For the purpose of premium determinations under s.
1140.05 (4) and (5) each member of the legislature shall accrue sick leave at a rate
12equivalent to a percentage of time worked recommended for such positions by the
13administrator of the division of personnel management in the department of
14administration and approved by the joint committee on employment relations in the
15same manner as compensation for such positions is determined under s. 20.923. This
16percentage of time worked shall be applied to the sick leave accrual rate established
17under s. 230.35 (2). The approved percentage shall be incorporated into the
18compensation plan under s. 230.12 (1).
SB70-AA1,38 19Section 38. 40.03 (1) (i) of the statutes is amended to read:
SB70-AA1,38,5
140.03 (1) (i) May determine that some or all of the disability annuities and
2death benefits provided from the Wisconsin retirement system shall instead be
3provided through group insurance plans to be established by the group insurance
4board
either as separate plans or as integral parts of the group life and income
5continuation insurance plans established under this chapter.
SB70-AA1,39 6Section 39. 40.03 (1) (p) of the statutes is amended to read:
SB70-AA1,38,107 40.03 (1) (p) May, upon the recommendation of the actuary, transfer in whole
8or in part the assets and reserves held in any account described in s. 40.04 (9) to a
9different account described in s. 40.04 (9), for the purpose of providing any group
10insurance benefit offered by the group insurance board.
SB70-AA1,40 11Section 40. 40.03 (1) (q) of the statutes is created to read:
SB70-AA1,38,1412 40.03 (1) (q) For the purposes of the group income continuation insurance plan
13established under ss. 40.61 and 40.62 and the group long-term disability insurance
14plan established under s. 40.64:
SB70-AA1,38,1715 1. May, on behalf of the state, enter into a contract or contracts with one or more
16insurers authorized to transact insurance business in this state for the purpose of
17providing the plans.
SB70-AA1,38,1918 2. May, wholly or partially in lieu of subd. 1., on behalf of the state, provide the
19plans on a self-insured basis.
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