SB628: Bill Text

SB628, s. 42 Section 42. 234.83 (4) (title) and (a) of the statutes are amended to read:

SB628,11,19 234.83 (4) (title) Guarantee of collection repayment. (a) Subject to par. (b), the authority shall may guarantee collection repayment of a percentage, not exceeding 90% 80%, 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.

SB628, s. 43 Section 43. 234.83 (4) (b) of the statutes is amended to read:

SB628,11,23 234.83 (4) (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 $10,000,000 $30,000,000.

SB628, s. 44 Section 44. 234.85 of the statutes is renumbered 234.35.

SB628, s. 45 Section 45. 234.87 (title) of the statutes is amended to read:

SB628,12,2 234.87 (title) Nonpoint source pollution abatement and agricultural Agricultural chemical cleanup loan guarantee program.

SB628, s. 46 Section 46. 234.87 (1) (b) of the statutes is repealed.

SB628, s. 47 Section 47. 234.87 (1) (c) of the statutes is repealed.

SB628, s. 48 Section 48. 234.87 (3) (b) of the statutes is repealed.

SB628, s. 49 Section 49. 234.87 (4) (a) of the statutes is repealed.

SB628, s. 50 Section 50. 234.87 (4) (b) of the statutes is renumbered 234.87 (4).

SB628, s. 51 Section 51. 234.87 (5) (a) of the statutes is amended to read:

SB628,12,14 234.87 (5) (a) Subject to pars. (b) and par. (c) and sub. (4) (a), the authority shall guarantee collection of a percentage, not exceeding 90%, of the principal of a loan eligible for a guarantee under sub. (2). The authority shall establish the percentage of the principal of an eligible loan that it will guarantee. The authority may establish a single percentage for all guaranteed loans or establish different percentages for eligible loans on an individual basis.

SB628, s. 52 Section 52. 234.87 (5) (b) of the statutes is repealed.

SB628, s. 53 Section 53. 234.905 of the statutes is repealed.

SB628, s. 54 Section 54. 234.907 of the statutes is repealed.

SB628, s. 55 Section 55. 234.93 (2) (a) (intro.) of the statutes is amended to read:

SB628,12,24 234.93 (2) (a) (intro.) The authority shall may enter into a guarantee agreement with any bank, production credit association, credit union, savings bank, savings and loan association or other person who wishes to participate in a loan program guaranteed by the Wisconsin development reserve fund. The authority may determine all of the following, consistent with the terms of the specific loan guarantee program:

SB628, s. 56 Section 56. 234.93 (2) (bm) of the statutes is created to read:

SB628,13,8 234.93 (2) (bm) A guarantee agreement between the authority and a bank, production credit association, credit union, savings and loan association or other person under par. (a) with respect to a loan guaranteed under s. 234.67, 1993 stats., s. 234.68, 1993 stats., s. 234.69, 1993 stats., s. 234.765, 1993 stats., s. 234.82, 1993 stats., s. 234.83, 1993 stats., s. 234.87 (5) (b), 1993 stats., s. 234.907, 1993 stats., or s. 234.935, 1993 stats., that is in effect immediately before the effective date of this paragraph .... [revisor inserts date], shall continue in full force and effect until the termination or expiration of the agreement according to its terms.

SB628, s. 57 Section 57. 234.93 (4) (a) 2. of the statutes, as affected by 1995 Wisconsin Act 5, is amended to read:

SB628,13,15 234.93 (4) (a) 2. To fund guarantees under all of the programs guaranteed by funds from the Wisconsin development reserve fund, except for the program under s. 234.935, 1993 stats., at a ratio of $1 of reserve funding to $4 $5 of total principal and outstanding guaranteed principal that the authority may guarantee under all of those programs.

SB628, s. 58 Section 58. 234.93 (4) (a) 3. of the statutes is created to read:

SB628,13,19 234.93 (4) (a) 3. To fund guarantees under the program under s. 234.935, 1993 stats., at a ratio of $1 of reserve funding to $4 of total principal and outstanding guaranteed principal that the authority may guarantee under that program.

SB628, s. 59 Section 59. 234.935 of the statutes is repealed.

SB628, s. 60 Section 60. 234.94 (intro.) of the statutes is amended to read:

SB628,13,23 234.94 (title) Community development finance company Definitions. (intro.) In ss. 234.94 to 234.98 this subchapter:

SB628, s. 61 Section 61. Subchapter III (title) of chapter 234 [precedes 234.94] of the statutes is created to read:

SB628,14,1 Chapter 234

SB628,14,4 Subchapter III community development finance company

SB628, s. 62 Section 62. 560.036 (2) (a) of the statutes is amended to read:

SB628,14,12 560.036 (2) (a) For the purposes of ss. 16.75 (3m), 16.855 (10m), 16.87 (2), 18.16, 18.64, 18.77, 25.185, 66.911, 119.495 (2), 231.27, 234.35 and 234.65 (6) and 234.85, the department shall establish and periodically update a list of certified minority businesses, minority financial advisers and minority investment firms. Any business, financial adviser or investment firm may apply to the department for certification. For purposes of this paragraph, unless the context otherwise requires, a "business" includes a financial adviser or investment firm.

SB628, s. 63 Section 63. 560.835 (1) (d) of the statutes is amended to read:

SB628,14,15 560.835 (1) (d) The expansion, improvement or development of a diaper service, as defined in s. 234.67 (1) (am) business that supplies and launders cloth diapers.

SB628, s. 64 Section 64. 600.01 (1) (b) 8. of the statutes, as affected by 1995 Wisconsin Acts 116 and 150, is amended to read:

SB628,14,21 600.01 (1) (b) 8. Guarantees of the Wisconsin housing and economic development authority under ss. s. 234.67, 1993 stats., s. 234.68, 1993 stats., s. 234.69, 1993 stats., s. 234.765, 1993 stats., s. 234.82, 1993 stats., s. 234.83, s. 234.84, s. 234.87, s. 234.90, 234.905, s. 234.907, 1993 stats., and s. 234.91.

SB628,14,22 (End)