AB908,11,2519 18.16 (6) The commission shall annually report to the department of
20administration the total amount of public indebtedness contracted with the
21underwriting services of minority investment firms, woman-owned investment
22firms, and service-disabled veteran investment firms
and the total amount of
23moneys expended for the services of minority financial advisers, woman-owned
24financial advisers, and service-disabled veteran financial advisers
during the
25preceding fiscal year.
AB908, s. 31
1Section 31. 18.64 (title) of the statutes is amended to read:
AB908,12,3 218.64 (title) Minority, woman-owned, and service-disabled veteran
3financial advisers and investment firms.
AB908, s. 32 4Section 32. 18.64 (1) of the statutes is repealed and recreated to read:
AB908,12,65 18.64 (1) (a) "Minority financial adviser" means a financial adviser certified by
6the department of commerce under s. 560.036 (2).
AB908,12,87 (b) "Minority investment firm" means an investment firm certified by the
8department of commerce under s. 560.036 (2).
AB908,12,109 (c) "Service-disabled veteran financial adviser" means a financial adviser
10certified by the department of commerce under s. 560.033 (2).
AB908,12,1211 (d) "Service-disabled veteran investment firm" means an investment firm
12certified by the department of commerce under s. 560.033 (2).
AB908,12,1413 (e) "Woman-owned financial adviser" means a financial adviser certified by the
14department of commerce under s. 560.035 (2).
AB908,12,1615 (f) "Woman-owned investment firm" means an investment firm certified by the
16department of commerce under s. 560.035 (2).
AB908, s. 33 17Section 33. 18.64 (2) of the statutes is renumbered 18.64 (2) (a) and amended
18to read:
AB908,12,2219 18.64 (2) (a) Except as provided under sub. (7), in issuing evidences of revenue
20obligations by competitive sale, the commission shall ensure that at least 6% 8
21percent
of the total of revenue obligations contracted in each fiscal year is
22underwritten by minority investment firms.
AB908, s. 34 23Section 34. 18.64 (2) (b) and (c) of the statutes are created to read:
AB908,13,224 18.64 (2) (b) Except as provided under sub. (7), in issuing evidences of revenue
25obligations by competitive sale, the commission shall ensure that at least 5 percent

1of the total of revenue obligations contracted in each fiscal year is underwritten by
2woman-owned investment firms.
AB908,13,63 (c) Except as provided under sub. (7), in issuing evidences of revenue
4obligations by competitive sale, the commission shall ensure that at least 2 percent
5of the total of revenue obligations contracted in each fiscal year is underwritten by
6service-disabled veteran investment firms.
AB908, s. 35 7Section 35. 18.64 (3) of the statutes is renumbered 18.64 (3) (a) and amended
8to read:
AB908,13,129 18.64 (3) (a) Except as provided under sub. (7), in issuing evidences of revenue
10obligations by negotiated sale, the commission shall ensure that at least 6% 8 percent
11of the total of revenue obligations contracted in each fiscal year is underwritten by
12minority investment firms.
AB908, s. 36 13Section 36. 18.64 (3) (b) and (c) of the statutes are created to read:
AB908,13,1714 18.64 (3) (b) Except as provided under sub. (7), in issuing evidences of revenue
15obligations by negotiated sale, the commission shall ensure that at least 5 percent
16of the total of revenue obligations contracted in each fiscal year is underwritten by
17woman-owned investment firms.
AB908,13,2118 (c) Except as provided under sub. (7), in issuing evidences of revenue
19obligations by negotiated sale, the commission shall ensure that at least 2 percent
20of the total of revenue obligations contracted in each fiscal year is underwritten by
21service-disabled veteran investment firms.
AB908, s. 37 22Section 37. 18.64 (4) of the statutes is renumbered 18.64 (4) (a) and amended
23to read:
AB908,14,224 18.64 (4) (a) Except as provided under sub. (7), in issuing evidences of revenue
25obligations by competitive sale or negotiated sale, the commission shall ensure that

1at least 6% 8 percent of the total moneys expended in such fiscal year for the services
2of financial advisers are expended for the services of minority financial advisers.
AB908, s. 38 3Section 38. 18.64 (4) (b) and (c) of the statutes are created to read:
AB908,14,74 18.64 (4) (b) Except as provided under sub. (7), in issuing evidences of revenue
5obligations by competitive sale or negotiated sale, the commission shall ensure that
6at least 5 percent of the total moneys expended in such fiscal year for the services of
7financial advisers are expended for the services of woman-owned financial advisers.
AB908,14,128 (c) Except as provided under sub. (7), in issuing evidences of revenue
9obligations by competitive sale or negotiated sale, the commission shall ensure that
10at least 2 percent of the total moneys expended in such fiscal year for the services of
11financial advisers are expended for the services of service-disabled veteran financial
12advisers.
AB908, s. 39 13Section 39. 18.64 (5) of the statutes is amended to read:
AB908,14,1814 18.64 (5) Except as provided under sub. (7), an individual underwriter or
15syndicate of underwriters shall ensure that each bid or proposal, submitted by that
16individual or syndicate in a competitive or negotiated sale of a revenue obligation,
17provides for a portion of sales to minority investment firms, woman-owned
18investment firms, and service-disabled veteran investment firms
.
AB908, s. 40 19Section 40. 18.64 (6) of the statutes is amended to read:
AB908,15,220 18.64 (6) The commission shall annually report to the department of
21administration the total amount of revenue obligations contracted with the
22underwriting services of minority investment firms, woman-owned investment
23firms, and service-disabled veteran investment firms
and the total amount of
24moneys expended for the services of minority financial advisers, woman-owned

1financial advisers, and service-disabled veteran financial advisers
during the
2preceding fiscal year.
AB908, s. 41 3Section 41. 18.77 (title) of the statutes is amended to read:
AB908,15,5 418.77 (title) Minority, woman-owned, and service-disabled veteran
5financial advisers and investment firms.
AB908, s. 42 6Section 42. 18.77 (1) of the statutes is repealed and recreated to read:
AB908,15,87 18.77 (1) (a) "Minority financial adviser" means a financial adviser certified by
8the department of commerce under s. 560.036 (2).
AB908,15,109 (b) "Minority investment firm" means an investment firm certified by the
10department of commerce under s. 560.036 (2).
AB908,15,1211 (c) "Service-disabled veteran financial adviser" means a financial adviser
12certified by the department of commerce under s. 560.033 (2).
AB908,15,1413 (d) "Service-disabled veteran investment firm" means an investment firm
14certified by the department of commerce under s. 560.033 (2).
AB908,15,1615 (e) "Woman-owned financial adviser" means a financial adviser certified by the
16department of commerce under s. 560.035 (2).
AB908,15,1817 (f) "Woman-owned investment firm" means an investment firm certified by the
18department of commerce under s. 560.035 (2).
AB908, s. 43 19Section 43. 18.77 (2) of the statutes is renumbered 18.77 (2) (a) and amended
20to read:
AB908,15,2421 18.77 (2) (a) Except as provided under sub. (7), in contracting operating notes
22by competitive sale, the commission shall ensure that at least 6% 8 percent of total
23operating note indebtedness contracted in each fiscal year is underwritten by
24minority investment firms.
AB908, s. 44 25Section 44. 18.77 (2) (b) and (c) of the statutes are created to read:
AB908,16,4
118.77 (2) (b) Except as provided under sub. (7), in contracting operating notes
2by competitive sale, the commission shall ensure that at least 5 percent of total
3operating note indebtedness contracted in each fiscal year is underwritten by
4woman-owned investment firms.
AB908,16,85 (c) Except as provided under sub. (7), in contracting operating notes by
6competitive sale, the commission shall ensure that at least 2 percent of total
7operating note indebtedness contracted in each fiscal year is underwritten by
8service-disabled veteran investment firms.
AB908, s. 45 9Section 45. 18.77 (3) of the statutes is renumbered 18.77 (3) (a) and amended
10to read:
AB908,16,1411 18.77 (3) (a) Except as provided under sub. (7), in contracting operating notes
12by negotiated sale, the commission shall ensure that at least 6% 8 percent of total
13operating note indebtedness contracted in each fiscal year is underwritten by
14minority investment firms.
AB908, s. 46 15Section 46. 18.77 (3) (b) and (c) of the statutes are created to read:
AB908,16,1916 18.77 (3) (b) Except as provided under sub. (7), in contracting operating notes
17by negotiated sale, the commission shall ensure that at least 5 percent of total
18operating note indebtedness contracted in each fiscal year is underwritten by
19woman-owned investment firms.
AB908,16,2320 (c) Except as provided under sub. (7), in contracting operating notes by
21negotiated sale, the commission shall ensure that at least 2 percent of total operating
22note indebtedness contracted in each fiscal year is underwritten by service-disabled
23veteran investment firms.
AB908, s. 47 24Section 47. 18.77 (4) of the statutes is renumbered 18.77 (4) (a) and amended
25to read:
AB908,17,4
118.77 (4) (a) Except as provided under sub. (7), in contracting operating notes
2by competitive sale or negotiated sale, the commission shall ensure that at least 6%
38 percent of the total moneys expended in such fiscal year for the services of financial
4advisers are expended for the services of minority financial advisers.
AB908, s. 48 5Section 48. 18.77 (4) (b) and (c) of the statutes are created to read:
AB908,17,96 18.77 (4) (b) Except as provided under sub. (7), in contracting operating notes
7by competitive sale or negotiated sale, the commission shall ensure that at least 5
8percent of the total moneys expended in such fiscal year for the services of financial
9advisers are expended for the services of woman-owned financial advisers.
AB908,17,1310 (c) Except as provided under sub. (7), in contracting operating notes by
11competitive sale or negotiated sale, the commission shall ensure that at least 2
12percent of the total moneys expended in such fiscal year for the services of financial
13advisers are expended for the services of service-disabled veteran financial advisers.
AB908, s. 49 14Section 49. 18.77 (5) of the statutes is amended to read:
AB908,17,1915 18.77 (5) Except as provided under sub. (7), an individual underwriter or
16syndicate of underwriters shall ensure that each bid or proposal, submitted by that
17individual or syndicate in a competitive or negotiated sale of an operating note,
18provides for a portion of sales to minority investment firms, woman-owned
19investment firms, and service-disabled veteran investment firms
.
AB908, s. 50 20Section 50. 18.77 (6) of the statutes is amended to read:
AB908,18,221 18.77 (6) The commission shall annually report to the department of
22administration the total amount of operating note indebtedness contracted with the
23underwriting services of minority investment firms and the total amount of moneys
24expended for the services of minority financial advisers, woman-owned financial

1advisers, and service-disabled veteran financial advisers
during the preceding fiscal
2year.
AB908, s. 51 3Section 51. 23.41 (1) (c) of the statutes is created to read:
AB908,18,54 23.41 (1) (c) "Minority business" means a business certified by the department
5of commerce under s. 560.036 (2).
AB908, s. 52 6Section 52. 23.41 (1) (d) of the statutes is created to read:
AB908,18,87 23.41 (1) (d) "Service-disabled veteran-owned business" means a business
8certified by the department of commerce under s. 560.033 (2).
AB908, s. 53 9Section 53. 23.41 (1) (e) of the statutes is created to read:
AB908,18,1110 23.41 (1) (e) "Woman-owned business" means a business certified by the
11department of commerce under s. 560.035 (2).
AB908, s. 54 12Section 54. 23.41 (6) of the statutes is renumbered 23.41 (6) (a) and amended
13to read:
AB908,18,1614 23.41 (6) (a) The department shall attempt to ensure that at least 5% 8 percent
15of the total amount expended under this section in each fiscal year is paid to minority
16businesses, as defined in s. 16.75 (3m) (a) 1.
AB908, s. 55 17Section 55. 23.41 (6) (b) of the statutes is created to read:
AB908,18,2018 23.41 (6) (b) The department shall attempt to ensure that at least 5 percent of
19the total amount expended under this section in each fiscal year is paid to
20woman-owned businesses.
AB908, s. 56 21Section 56. 23.41 (6) (c) of the statutes is created to read:
AB908,18,2422 23.41 (6) (c) The department shall attempt to ensure that at least 2 percent of
23the total amount expended under this section in each fiscal year is paid to
24service-disabled veteran-owned businesses.
AB908, s. 57 25Section 57. 25.185 (title) of the statutes is amended to read:
AB908,19,2
125.185 (title) Minority, woman-owned, and service-disabled veteran
2financial advisers and investment firms.
AB908, s. 58 3Section 58. 25.185 (1) of the statutes is repealed and recreated to read:
AB908,19,44 25.185 (1) In this section:
AB908,19,65 (a) "Minority financial adviser" means a financial adviser certified by the
6department of commerce under s. 560.036 (2).
AB908,19,87 (b) "Minority investment firm" means an investment firm certified by the
8department of commerce under s. 560.036 (2).
AB908,19,109 (c) "Service-disabled veteran financial adviser" means a financial adviser
10certified by the department of commerce under s. 560.033 (2).
AB908,19,1211 (d) "Service-disabled veteran investment firm" means an investment firm
12certified by the department of commerce under s. 560.033 (2).
AB908,19,1413 (e) "Woman-owned financial adviser" means a financial adviser certified by the
14department of commerce under s. 560.035 (2).
AB908,19,1615 (f) "Woman-owned investment firm" means an investment firm certified by the
16department of commerce under s. 560.035 (2).
AB908, s. 59 17Section 59. 25.185 (2) of the statutes is renumbered 25.185 (2) (a) and
18amended to read:
AB908,19,2219 25.185 (2) (a) The board shall attempt to ensure that 5% 8 percent of the total
20funds expended for financial and investment analysis and for common stock and
21convertible bond brokerage commissions in each fiscal year is expended for the
22services of minority financial advisers or minority investment firms.
AB908, s. 60 23Section 60. 25.185 (2) (b) of the statutes is created to read:
AB908,20,224 25.185 (2) (b) The board shall attempt to ensure that 5 percent of the total funds
25expended for financial and investment analysis and for common stock and

1convertible bond brokerage commissions in each fiscal year is expended for the
2services of woman-owned financial advisers or woman-owned investment firms.
AB908, s. 61 3Section 61. 25.185 (2) (c) of the statutes is created to read:
AB908,20,84 25.185 (2) (c) The board shall attempt to ensure that 2 percent of the total funds
5expended for financial and investment analysis and for common stock and
6convertible bond brokerage commissions in each fiscal year is expended for the
7services of service-disabled veteran financial advisers or service-disabled veteran
8investment firms.
AB908, s. 62 9Section 62. 25.185 (3) of the statutes is amended to read:
AB908,20,1510 25.185 (3) The board shall annually report to the department of administration
11the total amount of moneys expended under sub. (2) for common stock and
12convertible bond brokerage commissions, the services of minority, woman-owned,
13and service-disabled veteran
financial advisers and the services of minority,
14woman-owned, and service-disabled veteran
investment firms during the preceding
15fiscal year.
AB908, s. 63 16Section 63. 84.075 (title) of the statutes is amended to read:
AB908,20,18 1784.075 (title) Contracting with minority , woman-owned, and
18service-disabled veteran-owned
businesses.
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