LRB-2228/1
PJK:skg:ks
1995 - 1996 LEGISLATURE
January 26, 1995 - Introduced by Representatives Ott, Klusman, Ward, Coleman,
Dobyns, Brandemuehl, Albers, Gronemus, Johnsrud, Otte, Hutchison,
Reynolds, Springer, Hahn, Freese, Goetsch, Silbaugh, Musser, Gunderson,
Baldus, Grothman, Harsdorf, Lehman, Kreibich, Ainsworth, Zukowski,
Ladwig and Ziegelbauer, cosponsored by Senators Buettner, Darling,
Schultz, Clausing, Andrea, Moen and Breske. Referred to Committee on
Agriculture.
AB56,1,3
1An Act to repeal 234.90 (3m) (b);
to renumber and amend 234.90 (3m) (a); and
2to amend 234.90 (4) (a) of the statutes;
relating to: extending the agricultural
3production loan guarantee program.
Analysis by the Legislative Reference Bureau
Under the agricultural production loan guarantee program, the Wisconsin
housing and economic development authority (WHEDA) guarantees repayment of
90% of the principal of loans made by private lenders to eligible farmers for services
and consumable goods necessary to produce agricultural products. Under current
law, WHEDA may not guarantee agricultural production loans made after December
31, 1994. This bill extends the program indefinitely by removing the dates between
which a loan must be made in order for WHEDA to guarantee its repayment.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB56, s. 1
4Section
1. 234.90 (3m) (a) of the statutes is renumbered 234.90 (3m) and
5amended to read:
AB56,1,86
234.90
(3m) Extension. Except as provided in par. (b), a A participating lender
7may extend the term of a loan until no later than June 30 of the calendar year
8following the calendar year in which the participating lender granted the loan.
AB56, s. 2
1Section
2. 234.90 (3m) (b) of the statutes is repealed.
AB56, s. 3
2Section
3. 234.90 (4) (a) of the statutes is amended to read:
AB56,2,73
234.90
(4) (a) Except as provided in par. (b), the authority shall guarantee
4repayment of 90% of the principal of any agricultural production loan eligible for
5guarantee under sub. (2) made to a farmer eligible for a guaranteed loan under sub.
6(3) or (3g)
during the period beginning on January 1, 1993, and ending on December
731, 1994.
AB56,2,10
9(1) This act first applies to agricultural production loans made on January 1,
101995.
