AB228: Bill Text

AB228, s. 27 Section 27. 18.16 (4) of the statutes is renumbered 18.16 (4) (a).

AB228, s. 28 Section 28. 18.16 (4) (b) of the statutes is created to read:

AB228,11,10 18.16 (4) (b) Except as provided under sub. (7), in contracting public debt by competitive sale or negotiated sale, the commission shall make efforts to ensure that a portion of the total moneys expended in each fiscal year for the services of financial advisers are expended for the services of disabled veteran-owned financial advisers.

AB228, s. 29 Section 29. 18.16 (5) of the statutes is renumbered 18.16 (5) (a).

AB228, s. 30 Section 30. 18.16 (5) (b) of the statutes is created to read:

AB228,11,17 18.16 (5) (b) Except as provided under s. 18.06 (9) and sub. (7), an individual underwriter or syndicate of underwriters shall make efforts to ensure that each bid or proposal, submitted by that individual or syndicate in a competitive or negotiated sale of public debt, provides for a portion of sales to disabled veteran-owned investment firms.

AB228, s. 31 Section 31. 18.16 (6) of the statutes is amended to read:

AB228,11,24 18.16 (6) The commission shall annually report to the department of administration the total amount of public indebtedness contracted with the underwriting services of minority investment firms and disabled veteran-owned investment firms and the total amount of moneys expended for the services of minority financial advisers and disabled veteran-owned financial advisers during the preceding fiscal year.

AB228, s. 32 Section 32. 18.64 (title) of the statutes is amended to read:

AB228,12,2 18.64 (title) Minority financial advisers and investment firms; disabled veteran-owned financial advisers and investment firms.

AB228, s. 33 Section 33. 18.64 (1) of the statutes is repealed and recreated to read:

AB228,12,4 18.64 (1) In this section:

AB228,12,6 (a) "Disabled veteran-owned financial adviser" means a financial adviser certified by the department of commerce under s. 560.033 (3).

AB228,12,8 (b) "Disabled veteran-owned investment firm" means an investment firm certified by the department of commerce under s. 560.033 (3).

AB228,12,10 (c) "Minority financial adviser" means a financial adviser certified by the department of commerce under s. 560.036 (2).

AB228,12,12 (d) "Minority investment firm" means an investment firm certified by the department of commerce under s. 560.036 (2).

AB228, s. 34 Section 34. 18.64 (2) of the statutes is renumbered 18.64 (2) (a).

AB228, s. 35 Section 35. 18.64 (2) (b) of the statutes is created to read:

AB228,12,18 18.64 (2) (b) Except as provided under sub. (7), in issuing evidences of revenue obligations by competitive sale, the commission shall make efforts to ensure that a portion of the total of revenue obligations contracted in each fiscal year is underwritten by disabled veteran-owned investment firms.

AB228, s. 36 Section 36. 18.64 (3) of the statutes is renumbered 18.64 (3) (a).

AB228, s. 37 Section 37. 18.64 (3) (b) of the statutes is created to read:

AB228,12,24 18.64 (3) (b) Except as provided under sub. (7), in issuing evidences of revenue obligations by negotiated sale, the commission shall make efforts to ensure that a portion of the total of revenue obligations contracted in each fiscal year is underwritten by disabled veteran-owned investment firms.

AB228, s. 38 Section 38. 18.64 (4) of the statutes is renumbered 18.64 (4) (a).

AB228, s. 39 Section 39. 18.64 (4) (b) of the statutes is created to read:

AB228,13,6 18.64 (4) (b) Except as provided under sub. (7), in issuing evidences of revenue obligations by competitive sale or negotiated sale, the commission shall make efforts to ensure that a portion of the total moneys expended in each fiscal year for the services of financial advisers are expended for the services of disabled veteran-owned financial advisers.

AB228, s. 40 Section 40. 18.64 (5) of the statutes is renumbered 18.64 (5) (a).

AB228, s. 41 Section 41. 18.64 (5) (b) of the statutes is created to read:

AB228,13,13 18.64 (5) (b) Except as provided under sub. (7), an individual underwriter or syndicate of underwriters shall make efforts to ensure that each bid or proposal, submitted by that individual or syndicate in a competitive or negotiated sale of a revenue obligation, provides for a portion of sales to disabled veteran-owned investment firms.

AB228, s. 42 Section 42. 18.64 (6) of the statutes is amended to read:

AB228,13,20 18.64 (6) The commission shall annually report to the department of administration the total amount of revenue obligations contracted with the underwriting services of minority investment firms and disabled veteran-owned investment firms and the total amount of moneys expended for the services of minority financial advisers and disabled veteran-owned financial advisers during the preceding fiscal year.

AB228, s. 43 Section 43. 18.77 (title) of the statutes is amended to read:

AB228,13,23 18.77 (title) Minority financial advisers and investment firms; disabled veteran-owned financial advisers and investment firms.

AB228, s. 44 Section 44. 18.77 (1) of the statutes is repealed and recreated to read:

AB228,13,25 18.77 (1) In this section:

AB228,14,2 (a) "Disabled veteran-owned financial adviser" means a financial adviser certified by the department of commerce under s. 560.033 (3).

AB228,14,4 (b) "Disabled veteran-owned investment firm" means an investment firm certified by the department of commerce under s. 560.033 (3).

AB228,14,6 (c) "Minority financial adviser" means a financial adviser certified by the department of commerce under s. 560.036 (2).

AB228,14,8 (d) "Minority investment firm" means an investment firm certified by the department of commerce under s. 560.036 (2).

AB228, s. 45 Section 45. 18.77 (2) of the statutes is renumbered 18.77 (2) (a).

AB228, s. 46 Section 46. 18.77 (2) (b) of the statutes is created to read:

AB228,14,14 18.77 (2) (b) Except as provided under sub. (7), in contracting operating notes by competitive sale, the commission shall make efforts to ensure that a portion of total operating note indebtedness contracted in each fiscal year is underwritten by disabled veteran-owned investment firms.

AB228, s. 47 Section 47. 18.77 (3) of the statutes is renumbered 18.77 (3) (a).

AB228, s. 48 Section 48. 18.77 (3) (b) of the statutes is created to read:

AB228,14,20 18.77 (3) (b) Except as provided under sub. (7), in contracting operating notes by negotiated sale, the commission shall make efforts to ensure that a portion of total operating note indebtedness contracted in each fiscal year is underwritten by disabled veteran-owned investment firms.

AB228, s. 49 Section 49. 18.77 (4) of the statutes is renumbered 18.77 (4) (a).

AB228, s. 50 Section 50. 18.77 (4) (b) of the statutes is created to read:

AB228,15,2 18.77 (4) (b) Except as provided under sub. (7), in contracting operating notes by competitive sale or negotiated sale, the commission shall make efforts to ensure that a portion of the total moneys expended in such fiscal year for the services of financial advisers are expended for the services of disabled veteran-owned financial advisers.

AB228, s. 51 Section 51. 18.77 (5) of the statutes is renumbered 18.77 (5) (a).

AB228, s. 52 Section 52. 18.77 (5) (b) of the statutes is created to read:

AB228,15,9 18.77 (5) (b) Except as provided under sub. (7), an individual underwriter or syndicate of underwriters shall make efforts to ensure that each bid or proposal, submitted by that individual or syndicate in a competitive or negotiated sale of an operating note, provides for a portion of sales to disabled veteran-owned investment firms.

AB228, s. 53 Section 53. 18.77 (6) of the statutes is amended to read:

AB228,15,15 18.77 (6) The commission shall annually report to the department of administration the total amount of operating note indebtedness contracted with the underwriting services of minority investment firms and the total amount of moneys expended for the services of minority financial advisers and disabled veteran-owned financial advisers during the preceding fiscal year.

AB228, s. 54 Section 54. 23.41 (6) of the statutes is amended to read:

AB228,15,19 23.41 (6) The department shall attempt to ensure that at least 5% of the total amount expended under this section in each fiscal year is paid to minority businesses, as defined in s. 16.75 (3m) (a) 4.

AB228, s. 55 Section 55. 25.185 (title) of the statutes is amended to read:

AB228,15,22 25.185 (title) Minority financial advisers and investment firms; disabled veteran-owned financial advisers and investment firms.

AB228, s. 56 Section 56. 25.185 (1) of the statutes is repealed and recreated to read:

AB228,15,24 25.185 (1) In this section:

AB228,16,2 (a) "Disabled veteran-owned financial adviser" means a financial adviser certified by the department of commerce under s. 560.033 (3).

AB228,16,4 (b) "Disabled veteran-owned investment firm" means an investment firm certified by the department of commerce under s. 560.033 (3).

AB228,16,6 (c) "Minority financial adviser" means a financial adviser certified by the department of commerce under s. 560.036 (2).

AB228,16,8 (d) "Minority investment firm" means an investment firm certified by the department of commerce under s. 560.036 (2).

AB228, s. 57 Section 57. 25.185 (3) of the statutes is amended to read:

AB228,16,14 25.185 (3) The board shall annually report to the department of administration the total amount of moneys expended under sub. (2) for common stock and convertible bond brokerage commissions, the services of minority and disabled veteran-owned financial advisers, and the services of minority and disabled veteran-owned investment firms during the preceding fiscal year.

AB228, s. 58 Section 58. 84.075 (title) of the statutes is amended to read:

AB228,16,17 84.075 (title) Contracting with minority businesses and disabled veteran-owned businesses.

AB228, s. 59 Section 59. 84.075 (1) of the statutes is renumbered 84.075 (1m) (a) and amended to read:

AB228,17,2 84.075 (1m) (a) In purchasing services under s. 84.01 (13), in awarding construction contracts under s. 84.06 and in contracting with private contractors and agencies under s. 84.07, the department shall attempt to ensure that 5% 5 percent of the total amount expended in each fiscal year is paid to contractors, subcontractors, and vendors which that are minority businesses, as defined under s. 560.036 (1) (e) 1. In attempting to meet this goal, the department may award any contract to a minority business that submits a qualified responsible bid that is no more than 5% 5 percent higher than the low bid.

AB228, s. 60 Section 60. 84.075 (1c) of the statutes is created to read:

AB228,17,4 84.075 (1c) In this section:

AB228,17,6 (a) "Disabled veteran-owned business" means a business certified by the department of commerce under s. 560.033 (3).

AB228,17,8 (b) "Minority business" means a business certified by the department of commerce under s. 560.036 (2).

AB228, s. 61 Section 61. 84.075 (1m) (b) of the statutes is created to read:

AB228,17,17 84.075 (1m) (b) In purchasing services under s. 84.01 (13), in awarding construction contracts under s. 84.06 and in contracting with private contractors and agencies under s. 84.07, the department may award any contract to a disabled veteran-owned business that submits a qualified responsible bid that is no more than 5 percent higher than the low bid unless doing so would violate the provisions of any federal law or regulation or any contract between the department and a federal agency or would otherwise result in a reduction of the amount of federal highway aid received by this state.

AB228, s. 62 Section 62. 84.075 (2) of the statutes is amended to read:

AB228,17,21 84.075 (2) The contractor shall report to the department any amount of the contract paid to subcontractors and vendors which are minority businesses or disabled veteran-owned businesses.

AB228, s. 63 Section 63. 84.075 (3) of the statutes is amended to read:

AB228,18,6 84.075 (3) The department shall at least semiannually, or more often if required by the department of administration, report to the department of administration the total amount of money it has paid to contractors, subcontractors, and vendors which that are minority businesses and that are disabled veteran-owned businesses under ss. 84.01 (13), 84.06, and 84.07 and the number of contacts with minority businesses and disabled veteran-owned businesses in connection with proposed purchases and contracts. In its reports, the department shall include only amounts paid to businesses certified by the department of commerce as minority businesses or disabled veteran-owned businesses.

AB228, s. 64 Section 64. 85.25 (2) (c) (intro.) of the statutes is amended to read:

AB228,18,8 85.25 (2) (c) (intro.) "Disadvantaged business" means a any of the following:

AB228,18,10 1m. A sole proprietorship, partnership, limited liability company, joint venture or corporation that fulfills all of the following requirements:

AB228, s. 65 Section 65. 85.25 (2) (c) 1. and 2. of the statutes are renumbered 85.25 (2) (c) 1m. a. and b.

AB228, s. 66 Section 66. 85.25 (2) (c) 2m. of the statutes is created to read:

AB228,18,15 85.25 (2) (c) 2m. A disabled veteran-owned business, as defined in s. 84.075 (1c) (a).

AB228, s. 67 Section 67. 200.57 (title) of the statutes is amended to read:

AB228,18,18 200.57 (title) Minority financial advisers and investment firms and disabled veteran-owned businesses.

AB228, s. 68 Section 68. 200.57 (1) of the statutes is renumbered 200.57 (1) (intro.) and amended to read:

AB228,18,21 200.57 (1) In this section, "minority :

AB228,18,24 (b) "Minority financial adviser" and "minority investment firm" mean a financial adviser and investment firm, respectively, certified by the department of commerce under s. 560.036 (2).