AB150: Bill Text Engrossed

AB150-engrossed,2076,7 (1) Examination scores and ranks and other evaluations of applicants.

AB150-engrossed,2076,8 (2) Dismissals, demotions and other disciplinary actions.

AB150-engrossed,2076,9 (3) Addresses and home telephone numbers of employes.

AB150-engrossed,2076,10 (4) Pay survey data obtained from identifiable nonpublic employers.

AB150-engrossed,2076,11 (5) Names of nonpublic employers contributing pay survey data.

AB150-engrossed,2076,15 233.17 Liability limited. (1) Neither the state, any political subdivision of the state nor any officer, employe or agent of the state or a political subdivision who is acting within the scope of employment or agency is liable for any debt, obligation, act or omission of the authority.

AB150-engrossed,2076,19 (2) (a) No officer, employe or agent of the board of regents, including any student who is enrolled at an institution or center within the University of Wisconsin System, is an agent of the authority unless the officer, employe or agent acts at the express written direction of the authority.

AB150-engrossed,2076,22 (b) Notwithstanding par. (a), no member of the faculty or academic staff of the University of Wisconsin System, acting within the scope of his or her employment, may be considered, for liability purposes, as an agent of the authority.

AB150-engrossed,2076,25 233.20 Issuance of bonds. (1) The authority may issue bonds for any corporate purpose. All bonds are negotiable for all purposes, notwithstanding their payment from a limited source.

AB150-engrossed,2077,3 (2) The bonds of each issue shall be payable from sources specified in the bond resolution under which the bonds are issued or in a related trust agreement, trust indenture, indenture of mortgage or deed of trust.

AB150-engrossed,2077,14 (3) The authority may not issue bonds unless the issuance is first authorized by a bond resolution. Bonds shall bear the dates, mature at the times not exceeding 30 years from their dates of issue, bear interest at the rates, be payable at the times, be in the denominations, be in the form, carry the registration and conversion privileges, be executed in the manner, be payable in lawful money of the United States at the places, and be subject to the terms of redemption, that the bond resolution provides. The bonds shall be executed by the manual or facsimile signatures of the officers of the authority designated by the board. The bonds may be sold at public or private sale at the price, in the manner and at the time determined by the board. Pending preparation of definitive bonds, the authority may issue interim receipts or certificates that shall be exchanged for the definitive bonds.

AB150-engrossed,2077,17 (4) Any bond resolution may contain provisions, which shall be a part of the contract with the holders of the bonds that are authorized by the bond resolution, regarding any of the following:

AB150-engrossed,2077,18 (a) Pledging or assigning specified assets or revenues of the authority.

AB150-engrossed,2077,20 (b) Setting aside reserves or sinking funds, and the regulation, investment and disposition of these funds.

AB150-engrossed,2077,22 (c) Limitations on the purpose to which or the investments in which the proceeds of the sale of any issue of bonds may be applied.

AB150-engrossed,2077,25 (d) Limitations on the issuance of additional bonds, the terms upon which additional bonds may be issued and secured and the terms upon which additional bonds may rank on a parity with, or be subordinate or superior to, other bonds.

AB150-engrossed,2078,1 (e) Funding, refunding, advance refunding or purchasing outstanding bonds.

AB150-engrossed,2078,4 (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.

AB150-engrossed,2078,7 (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.

AB150-engrossed,2078,8 (h) Other matters relating to the bonds that the board considers desirable.

AB150-engrossed,2078,12 (5) 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 wilful misconduct.

AB150-engrossed,2078,21 233.21 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.

AB150-engrossed,2079,2 233.22 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 or 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.

AB150-engrossed,2079,12 (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.

AB150-engrossed,2079,19 233.23 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.

AB150-engrossed,2079,23 233.26 Refunding bonds. (1) The authority may issue bonds to fund or refund any outstanding bond, including the payment of any redemption premium on the outstanding bond and any interest accrued or to accrue to the earliest or any subsequent date of redemption, purchase or maturity.

AB150-engrossed,2080,3 (2) The authority may apply the proceeds of any bond issued to fund or refund any outstanding bond to purchase, retire at maturity or redeem any outstanding bond. The authority may, pending application, place the proceeds in escrow to be applied to the purchase, retirement at maturity or redemption of any outstanding bond at any time.

AB150-engrossed,2080,10 233.27 Limit on the amount of outstanding bonds. The authority may not issue bonds or incur indebtedness described under s. 233.03 (12) if, after the bonds are issued or the indebtedness is incurred, the aggregate principal amount of the authority's outstanding bonds, together with all indebtedness described under s. 233.03 (12) would exceed $50,000,000. Bonds issued to fund or refund outstanding bonds, or indebtedness incurred to pay off or purchase outstanding indebtedness, is not included in calculating compliance with the $50,000,000 limit.

AB150-engrossed, s. 6301j Section 6301j. 233.03 (7) of the statutes, as affected by 1995 Wisconsin Act .... (this act), is repealed and recreated to read:

AB150-engrossed,2080,18 233.03 (7) Subject to s. 233.10 and ch. 40 and 1995 Wisconsin Act .... (this act), section 9159 (4) and the duty to engage in collective bargaining with employes in a collective bargaining unit for which a representative is recognized or certified under subch. I of ch. 111, employ any agent, employe or special advisor that the authority finds necessary and fix his or her compensation and provide any employe benefits, including an employe pension plan.

AB150-engrossed, s. 6301m Section 6301m. 233.10 (2) (intro.) of the statutes, as affected by 1995 Wisconsin Act .... (this act), is repealed and recreated to read:

AB150-engrossed,2080,23 233.10 (2) (intro.) Subject to subs. (3), (3m), (3r) and (3t) and ch. 40 and the duty to engage in collective bargaining with employes in a collective bargaining unit for which a representative is recognized or certified under subch. I of ch. 111:

AB150-engrossed, s. 6301p Section 6301p. 233.10 (6) of the statutes, as created by 1995 Wisconsin Act .... (this act), is repealed.

AB150-engrossed, s. 6302 Section 6302. 234.01 (5k) of the statutes is amended to read:

AB150-engrossed,2081,6 234.01 (5k) "Financial institution" means a bank, savings bank, savings and loan association, credit union, insurance company, finance company, mortgage banker registered under s. 440.72 224.72, community development corporation, small business investment corporation, pension fund or other lender which provides commercial loans in this state.

AB150-engrossed, s. 6302c Section 6302c. 234.04 (2) of the statutes is amended to read:

AB150-engrossed,2081,19 234.04 (2) The authority may make or participate in the making and enter into commitments for the making of long-term mortgage loans to eligible sponsors of housing projects for occupancy by persons and families of low and moderate income, or for the making of homeownership mortgage loans or housing rehabilitation loans to persons and families of low and moderate income, an applicant under s. 234.59 or other eligible beneficiaries as defined in s. 234.49. The loans may be made only upon the determination by the authority that they are not otherwise available from private lenders upon reasonably equivalent terms and conditions. The authority may not make a loan to a person if it receives a certification under s. 46.255 73.255 (7) that the person is delinquent in child support or maintenance payments. The authority may employ, for such compensation as it determines, the services of any financial institution in connection with any loan.

AB150-engrossed, s. 6302j Section 6302j. 234.265 (2) of the statutes is amended to read:

AB150-engrossed,2082,3 234.265 (2) Records or portions of records consisting of personal or financial information provided by a person seeking a grant or loan under s. 234.08, 234.49, 234.59, 234.65, 234.67, 234.68, 234.69, 234.70, 234.765, 234.82, 234.83, 234.84, 234.87, 234.90, 234.905 or 234.907, seeking a loan under ss. 234.621 to 234.626, seeking financial assistance under s. 234.66 or under ss. 234.75 to 234.802, seeking investment of funds under s. 234.03 (18m) or in which the authority has invested funds under s. 234.03 (18m), unless the person consents to disclosure of the information.

AB150-engrossed, s. 6302r Section 6302r. 234.49 (1) (c) of the statutes is amended to read:

AB150-engrossed,2082,8 234.49 (1) (c) "Eligible beneficiary" means a person for whom the authority has not received a certification from the department of health and social services revenue under s. 46.255 73.255 (7) or a family who or which falls within the income limits specified in par. (f).

AB150-engrossed, s. 6303 Section 6303. 234.49 (2) (a) 4. of the statutes is amended to read:

AB150-engrossed,2082,14 234.49 (2) (a) 4. To designate as an authorized lender the authority or any local government agency, housing authority under s. 59.075, 61.73, 66.395 or 66.40, bank, savings bank, savings and loan institution, mortgage banker registered under s. 440.72 224.72 or credit union, if the designee has a demonstrated history or potential of ability to adequately make and service housing rehabilitation loans.

AB150-engrossed, s. 6304 Section 6304. 234.59 (1) (h) of the statutes is amended to read:

AB150-engrossed,2082,17 234.59 (1) (h) "Mortgage banker" means a mortgage banker registered under s. 440.72 224.72, but does not include a person licensed under s. 138.09.

AB150-engrossed, s. 6304c Section 6304c. 234.59 (3) (c) of the statutes is amended to read:

AB150-engrossed,2082,22 234.59 (3) (c) The authority shall notify an eligible lender if it receives a certification under s. 46.255 73.255 (7) that a person is delinquent in child support or maintenance payments. An eligible lender may not make a loan to an applicant if it receives notification under this paragraph concerning the applicant.

AB150-engrossed, s. 6304p Section 6304p. 234.65 (3) (f) of the statutes is amended to read:

AB150-engrossed,2083,3 234.65 (3) (f) The authority has not received a certification under s. 46.255 73.255 (7) that the person receiving the loan is delinquent in child support or maintenance payments.

AB150-engrossed, s. 6305 Section 6305. 234.75 (10) of the statutes is amended to read:

AB150-engrossed,2083,11 234.75 (10) "State agency" means any office, department, agency, institution of higher education, association, society or other body in state government created or authorized to be created by the constitution or any law which is entitled to expend moneys appropriated by law, including the legislature and the courts, and the authority, the Bradley center sports and entertainment corporation , the University of Wisconsin Hospitals and Clinics Authority and the health and educational facilities authority.

AB150-engrossed, s. 6305i Section 6305i. 234.82 (title) of the statutes is amended to read:

AB150-engrossed,2083,14 234.82 (title) Business improvement or start-up loan guarantee program.

AB150-engrossed, s. 6305j Section 6305j. 234.82 (1) (a) of the statutes is renumbered 234.82 (1) (a) (intro.) and amended to read:

AB150-engrossed,2083,17 234.82 (1) (a) (intro.) "Eligible business" means a any of the following:

AB150-engrossed,2083,21 1. A business that is primarily engaged in or derives a substantial percentage of its annual gross revenue from furnishing goods, services, lodging, recreation facilities or amusement facilities to tourists or from furnishing goods or services to such businesses.

AB150-engrossed, s. 6305k Section 6305k. 234.82 (1) (a) 2. of the statutes is created to read:

AB150-engrossed,2083,24 234.82 (1) (a) 2. A business that derives more than 50% of its annual gross revenue from furnishing lodging.

AB150-engrossed, s. 6305km Section 6305km. 234.82 (2) (intro.) of the statutes is amended to read:

AB150-engrossed,2084,3 234.82 (2) Guarantee requirements. (intro.) The authority may use money from the Wisconsin development reserve fund to guarantee a business improvement or start-up loan if all of the following apply:

AB150-engrossed, s. 6305L Section 6305L. 234.82 (3) (a) of the statutes is amended to read:

AB150-engrossed,2084,6 234.82 (3) (a) The person is engaged in an eligible business under sub. (1) (a) 1. or intends to engage in an eligible business under sub. (1) (a) 2.

AB150-engrossed, s. 6305m Section 6305m. 234.82 (3) (b) of the statutes is amended to read:

AB150-engrossed,2084,12 234.82 (3) (b) The annual gross revenue of the person, together with any parent, subsidiary or affiliate corporation, does not exceed $2,500,000 or, if the person intends to engage in an eligible business under sub. (1) (a) 2., the annual gross revenue of the person, together with any parent, subsidiary or affiliate corporation, will not exceed $2,500,000.

AB150-engrossed, s. 6305n Section 6305n. 234.82 (3) (c) of the statutes is amended to read:

AB150-engrossed,2084,18 234.82 (3) (c) The person, together with any parent, subsidiary or affiliate corporation, employs fewer than 25 employes on a full-time basis or, if the person intends to engage in an eligible business under sub. (1) (a) 2., the person, together with any parent, subsidiary or affiliate corporation, will employ fewer than 25 employes on a full-time basis.

AB150-engrossed, s. 6305np Section 6305np. 234.82 (4) (a) of the statutes is amended to read:

AB150-engrossed,2084,25 234.82 (4) (a) The borrower uses the loan proceeds for upgrading, renovating or expanding an eligible business under sub. (1) (a) 1. or for start-up costs for an eligible business under sub. (1) (a) 2. Loan proceeds may be used for direct or related expenses associated with the purchase or improvement of land, buildings, machinery, equipment or inventory. Loan proceeds may not be used to refinance existing debt or for operating or entertainment expenses.

AB150-engrossed, s. 6305nr Section 6305nr. 234.84 of the statutes is created to read:

AB150-engrossed,2085,4 234.84 Job training loan guarantee program. (1) Guarantee requirements. The authority may use money from the Wisconsin development reserve fund to guarantee a loan under this section if all of the following apply:

AB150-engrossed,2085,5 (a) The borrower is an employer in this state.

AB150-engrossed,2085,6 (b) The loan qualifies as an eligible loan under sub. (2).

AB150-engrossed,2085,8 (c) The lender is a financial institution that enters into an agreement under s. 234.93 (2) (a).

AB150-engrossed,2085,10 (2) Eligible loans. A loan is eligible for guarantee of collection from the Wisconsin development reserve fund under s. 234.93 if all of the following apply:

AB150-engrossed,2085,13 (a) The borrower uses the loan proceeds for expenses related to employe training or retraining or for purchasing equipment or upgrading facilities for purposes related to employe training or retraining.

AB150-engrossed,2085,15 (b) Loan proceeds are not used to refinance existing debt or for operating or entertainment expenses.

AB150-engrossed,2085,17 (c) The interest rate on the loan, including any origination fees or other charges, is approved by the authority.

AB150-engrossed,2085,20 (d) The loan term does not extend beyond 3 years if the loan proceeds are used exclusively for expenses related to instruction or training, or beyond 5 years if the loan proceeds are used for purchasing equipment or upgrading facilities.

AB150-engrossed,2085,22 (e) The total principal amount of all loans to the borrower that are guaranteed under this section does not exceed $250,000.

AB150-engrossed,2085,25 (f) The financial institution obtains a security interest in the physical plant, equipment or other assets if the loan proceeds are used for purchasing equipment or upgrading facilities.

AB150-engrossed,2086,2 (g) The financial institution believes that it is reasonably likely that the borrower will be able to repay the loan in full with interest.

AB150-engrossed,2086,4 (h) The financial institution agrees to the percentage of guarantee established for the loan by the authority.

AB150-engrossed,2086,11 (3) Guarantee of collection. (a) Subject to par. (b), the authority shall guarantee collection of a percentage of the principal of any loan eligible for a guarantee under sub. (1). The authority shall establish the percentage of the principal of an eligible loan that will be guaranteed, using the procedures described in the agreement under s. 234.93 (2) (a). The authority may establish a single percentage for all guaranteed loans or establish different percentages for eligible loans on an individual basis.

AB150-engrossed,2086,14 (b) Except as provided in s. 234.93 (3), the total outstanding guaranteed principal amount of all loans that the authority may guarantee under par. (a) may not exceed $14,000,000.

AB150-engrossed, s. 6305p Section 6305p. 234.90 (3) (d) of the statutes is amended to read:

AB150-engrossed,2086,18 234.90 (3) (d) The authority has not received a certification under s. 46.255 73.255 (7) that the farmer is delinquent in making child support or maintenance payments.

AB150-engrossed, s. 6305r Section 6305r. 234.90 (3g) (c) of the statutes is amended to read:

AB150-engrossed,2086,22 234.90 (3g) (c) The authority has not received a certification under s. 46.255 73.255 (7) that the farmer is delinquent in making child support or maintenance payments.

AB150-engrossed, s. 6305t Section 6305t. 234.905 (3) (d) of the statutes is amended to read: