SB62,243,724 77.995 (2) There is imposed a fee at the rate of 5 percent of the gross receipts
25sales price on the rental, but not for rerental and not for rental as a service or repair

1replacement vehicle of Type 1 automobiles, as defined in s. 340.01 (4) (a); of
2recreational vehicles, as defined in s. 340.01 (48r); of motor homes, as defined in s.
3340.01 (33m); and of camping trailers, as defined in s. 340.01 (6m) by establishments
4primarily engaged in short-term rental of vehicles without drivers, for a period of 30
5days or less, unless the sale is exempt from the sales tax under s. 77.54 (1), (4), (7)
6(a), (7m) or (9a). There is also imposed a fee at the rate of 5 percent of the gross
7receipts
sales price on the rental of limousines.
SB62, s. 550 8Section 550. 77.9951 (2) of the statutes is repealed and recreated to read:
SB62,243,139 77.9951 (2) Sections 77.51 (12m), (14), (14g), (15a), and (15b), 77.52 (1b), (3),
10(4), (13), (14), (18), and (19), 77.58 (1) to (5), (6m), and (7), 77.585, 77.59, 77.60, 77.61
11(2), (3m), (5), (8), (9), and (12) to (15), and 77.62, as they apply to the taxes under
12subch. III, apply to the fee under this subchapter. The renter shall collect the fee
13under this subchapter from the person to whom the vehicle is rented.
SB62, s. 551 14Section 551. 77.996 (6) of the statutes is amended to read:
SB62,243,1915 77.996 (6) "Gross receipts" has the meaning given in s. 77.51 (4) (a), (b) 1. and
165., (c) 1. to 4., and (d)
means the sales price, as defined in s. 77.51 (15b), of tangible
17personal property and taxable services sold by a dry cleaning facility
. "Gross
18receipts" does not include the license fee imposed under s. 77.9961 (1m) that is passed
19on to customers.
SB62, s. 552 20Section 552. 77.9972 (2) of the statutes is repealed and recreated to read:
SB62,244,221 77.9972 (2) Sections 77.51 (12m), (14), (14g), (15a), and (15b), 77.52 (1b), (3),
22(4), (13), (14), (18), and (19), 77.58 (1) to (5), (6m), and (7), 77.585, 77.59, 77.60, 77.61
23(2), (3m), (5), (8), (9), and (12) to (15), and 77.62, as they apply to the taxes under
24subch. III, apply to the fee under this subchapter. Section 77.73, as it applies to the
25taxes under subch. V, applies to the fee under this subchapter. The renter shall

1collect the fee under this subchapter from the person to whom the passenger car is
2rented.
SB62, s. 553 3Section 553. 84.03 (2) (a) 1. of the statutes is amended to read:
SB62,244,104 84.03 (2) (a) 1. "Amount of federal funds" means the sum of federal revenues
5received under the federal Intermodal Surface Transportation Efficiency Act of 1991,
6as amended, or under a substantially similar federal legislative act. "Amount of
7federal funds" does not include the first $300,000,000 of federal moneys received by
8the state, pursuant to federal legislation enacted during the 111th Congress, for the
9purpose of reviving the economy of the United States, which moneys are intended to
10be used for transportation purposes.
SB62, s. 554 11Section 554. 86.195 (3) (b) 3. of the statutes is amended to read:
SB62,244,1512 86.195 (3) (b) 3. Fifty percent of the gross receipts sales price, as defined in s.
1377.51 (15b),
of the business are is from meal, food, the sale of food product and
14beverage sales
and food ingredients, as defined in s. 77.51 (3t), that are taxable under
15s. 77.54 (20) (c) subch. III of ch. 77; and
SB62, s. 555 16Section 555. 100.55 (1) (d) 3. of the statutes is amended to read:
SB62,244,1917 100.55 (1) (d) 3. A mortgage banker, loan originator, or mortgage broker
18registered licensed under s. 224.72 or a mortgage loan originator licensed under s.
19224.725
.
SB62, s. 556 20Section 556. 146.99 of the statutes is repealed.
SB62, s. 557 21Section 557. 149.10 (3m) (intro.) of the statutes is amended to read:
SB62,244,2422 149.10 (3m) (intro.) "Health care coverage revenue" means any of the
23following, but does not include payments to health maintenance organizations under
24s. 49.45 (59) (a)
:
SB62, s. 558 25Section 558. 165.25 (4) (ar) of the statutes is amended to read:
SB62,245,6
1165.25 (4) (ar) The department of justice shall furnish all legal services
2required by the department of agriculture, trade and consumer protection relating
3to the enforcement of ss. 100.171, 100.173, 100.174, 100.175, 100.177, 100.18,
4100.182, 100.195, 100.20, 100.205, 100.207, 100.209, 100.21, 100.28, 100.37, 100.42,
5100.50, and 100.51, and 100.55, and 846.45 and chs. 126, 136, 344, 704, 707, and 779,
6together with any other services as are necessarily connected to the legal services.
SB62, s. 559 7Section 559. 218.0171 (2) (cq) of the statutes is amended to read:
SB62,245,138 218.0171 (2) (cq) Upon payment of a refund to a consumer under par. (b) 2. b.,
9the manufacturer shall provide to the consumer a written statement that specifies
10the trade-in amount previously applied under s. 77.51 (4) (b) 3. or 3m. or (15) (b) 4.
11or 4m.
(12m) (b) 5. or 6. or (15b) (b) 5. or 6. toward the sales price of the motor vehicle
12having the nonconformity and the date on which the manufacturer provided the
13refund.
SB62, s. 560 14Section 560. 220.02 (2) (g) of the statutes is amended to read:
SB62,245,1615 220.02 (2) (g) Mortgage bankers, mortgage loan originators, and mortgage
16brokers under subch. III of ch. 224.
SB62, s. 561 17Section 561. 220.02 (3) of the statutes is amended to read:
SB62,246,218 220.02 (3) It is the intent of sub. (2) to give the division jurisdiction to enforce
19and carry out all laws relating to banks or banking in this state, including those
20relating to state banks, savings banks, savings and loan associations, and trust
21company banks, and also all laws relating to small loan companies or other loan
22companies or agencies, finance companies, insurance premium finance companies,
23motor vehicle dealers, adjustment service companies, community currency
24exchanges, mortgage bankers, mortgage loan originators, mortgage brokers, and
25collection agencies and those relating to sellers of checks under ch. 217, whether

1doing business as corporations, individuals, or otherwise, but to exclude laws
2relating to credit unions.
SB62, s. 562 3Section 562. 220.06 (1) of the statutes is amended to read:
SB62,246,64 220.06 (1) In this section, "licensee" means a person licensed by the division
5under ch. 138, 217 or 218 or under s. 224.72, 224.725, or 224.92 or registered by the
6division under s. 224.72
.
SB62, s. 563 7Section 563. 220.285 (1) of the statutes is amended to read:
SB62,246,198 220.285 (1) Any state bank, trust company bank, licensee under ss. 138.09,
9138.12, 218.0101 to 218.0163, 218.02, 218.04 or, 218.05, 224.72, or 224.725 or ch. 217,
10or person registered under s. 224.72
may cause any or all records kept by such bank,
11licensee, or registered person to be recorded, copied or reproduced by any photostatic,
12photographic or miniature photographic process or by optical imaging if the process
13employed correctly, accurately and permanently copies, reproduces or forms a
14medium for copying, reproducing or recording the original record on a film or other
15durable material. A bank, licensee, or registered person may thereafter dispose of
16the original record after first obtaining the written consent of the division. This
17section, excepting that part of it which requires written consent of the division, is
18applicable to national banking associations insofar as it does not contravene federal
19law.
SB62, s. 564 20Section 564. 221.0402 (2) (b) of the statutes is amended to read:
SB62,246,2221 221.0402 (2) (b) Mortgage bankers registered licensed under s. 224.72 may use
22the designation "mortgage banker".
SB62, s. 565 23Section 565. 224.71 (1ag) of the statutes is repealed.
SB62, s. 566 24Section 566. 224.71 (1b) of the statutes is repealed.
SB62, s. 567 25Section 567. 224.71 (1bm) of the statutes is created to read:
SB62,247,4
1224.71 (1bm) "Another state" means any state of the United States other than
2Wisconsin; the District of Columbia; any territory of the United States; Puerto Rico;
3Guam; American Samoa; the Trust Territory of the Pacific Islands; the Virgin
4Islands; or the Northern Mariana Islands.
SB62, s. 568 5Section 568. 224.71 (1c) of the statutes is created to read:
SB62,247,86 224.71 (1c) "Branch office" means an office or place of business, other than the
7principal office, located in this state or another state, where a mortgage banker or
8mortgage broker conducts business with residents of this state.
SB62, s. 569 9Section 569. 224.71 (1d) of the statutes is repealed.
SB62, s. 570 10Section 570. 224.71 (1dm) of the statutes is created to read:
SB62,247,1211 224.71 (1dm) "Depository institution" has the meaning given in 12 USC 1813
12(c) (1), but also includes any state or federal credit union.
SB62, s. 571 13Section 571. 224.71 (1f) of the statutes is created to read:
SB62,247,1414 224.71 (1f) "Dwelling" has the meaning given in 15 USC 1602 (v).
SB62, s. 572 15Section 572. 224.71 (1g) of the statutes is renumbered 224.71 (14) and
16amended to read:
SB62,247,2317 224.71 (14) "Loan Residential mortgage loan" means a any loan primarily for
18personal, family, or household purposes use that is secured by a lien or mortgage, or
19equivalent security interest, on a dwelling or residential real property located in this
20state. For purposes of this subsection, a loan secured by real property consisting of
211 to 4 dwelling units, including individual condominium units, is a loan for household
22purposes, but a loan made by a landlord to a tenant as described in sub. (3) (b) 4. is
23not a loan for household purposes.
SB62, s. 573 24Section 573. 224.71 (1h) of the statutes is created to read:
SB62,248,4
1224.71 (1h) "Federal banking agency" means the board of governors of the
2federal reserve system, the U.S. office of the comptroller of the currency, the U.S.
3office of thrift supervision, the national credit union administration, or the federal
4deposit insurance corporation.
SB62, s. 574 5Section 574. 224.71 (1m) of the statutes is created to read:
SB62,248,106 224.71 (1m) "Finds," with respect to a residential mortgage loan, means to
7assist a residential mortgage loan applicant in locating a lender for the purpose of
8obtaining a residential mortgage loan and to make arrangements for a residential
9mortgage loan applicant to obtain a residential mortgage loan, including collecting
10information on behalf of an applicant and preparing a loan package.
SB62, s. 575 11Section 575. 224.71 (1r) of the statutes is renumbered 224.71 (6) (a) (intro.)
12and amended to read:
SB62,248,1713 224.71 (6) (a) (intro.) "Loan Mortgage loan originator" means a person who, on
14behalf of a mortgage banker or mortgage broker, finds a loan or negotiates a land
15contract, loan or commitment for a loan.
an individual who is not excluded by par.
16(b) and who, for compensation or gain or in the expectation of compensation or gain,
17does any of the following:
SB62, s. 576 18Section 576. 224.71 (1u) of the statutes is repealed.
SB62, s. 577 19Section 577. 224.71 (2) of the statutes is created to read:
SB62,248,2520 224.71 (2) "Loan processor or underwriter" means an individual who, as an
21employee, performs clerical or support duties at the direction of and subject to the
22supervision and instruction of a mortgage loan originator licensed under s. 224.725
23or exempt from licensing under s. 224.726 (1), which clerical or support duties may
24include any of the following occurring subsequent to the receipt of a residential
25mortgage loan application:
SB62,249,2
1(a) The receipt, collection, distribution, and analysis of information common for
2the processing or underwriting of a residential mortgage loan.
SB62,249,63 (b) Communicating with a residential mortgage loan applicant to obtain the
4information necessary for the processing or underwriting of a residential mortgage
5loan, to the extent that the communication does not include offering or negotiating
6loan rates or terms or providing counseling related to loan rates or terms.
SB62, s. 578 7Section 578. 224.71 (3) (a) 1. to 3. of the statutes are amended to read:
SB62,249,98 224.71 (3) (a) 1. Originates residential mortgage loans for itself, as payee on
9the note evidencing the residential mortgage loan, or for another person.
SB62,249,1110 2. Sells residential mortgage loans or interests in residential mortgage loans
11to another person.
SB62,249,1312 3. Services residential mortgage loans or land contracts or provides escrow
13services.
SB62, s. 579 14Section 579. 224.71 (3) (b) 1. to 7. of the statutes are repealed.
SB62, s. 580 15Section 580. 224.71 (3) (b) 8., 9., 10., 11. and 12. of the statutes are created to
16read:
SB62,249,1717 224.71 (3) (b) 8. A depository institution.
SB62,249,1918 9. A subsidiary that is owned and controlled by a depository institution and
19regulated by a federal banking agency.
SB62,249,2020 10. An institution regulated by the farm credit administration.
SB62,249,2421 11. A person that only performs real estate brokerage activities and is licensed
22under s. 452.03, unless the person is compensated by a lender, mortgage broker, or
23mortgage loan originator or by any agent of a lender, mortgage broker, or mortgage
24loan originator.
SB62,250,2
112. A person solely involved in extensions of credit relating to time-share
2plans, as defined in 11 USC 101 (53D).
SB62, s. 581 3Section 581. 224.71 (4) (a) of the statutes is amended to read:
SB62,250,84 224.71 (4) (a) "Mortgage broker" means a person who is not excluded by par.
5(b) and who, on behalf of a residential mortgage loan applicant or an investor and for
6commission, money, or other thing of value, finds a residential mortgage loan or
7negotiates a land contract, residential mortgage loan or commitment for a
8residential mortgage loan or engages in table funding.
SB62, s. 582 9Section 582. 224.71 (4) (b) 1. to 3. of the statutes are repealed.
SB62, s. 583 10Section 583. 224.71 (4) (b) 4., 5., 6., 7. and 8. of the statutes are created to read:
SB62,250,1111 224.71 (4) (b) 4. A depository institution.
SB62,250,1312 5. A subsidiary that is owned and controlled by a depository institution and
13regulated by a federal banking agency.
SB62,250,1414 6. An institution regulated by the farm credit administration.
SB62,250,1815 7. A person that performs real estate brokerage activities only and is licensed
16under s. 452.03, unless the person is compensated by a lender, mortgage broker, or
17mortgage loan originator or by any agent of a lender, mortgage broker, or mortgage
18loan originator.
SB62,250,2019 8. A person solely involved in extensions of credit relating to time-share plans,
20as defined in 11 USC 101 (53D).
SB62, s. 584 21Section 584. 224.71 (5) of the statutes is renumbered 224.71 (17) and amended
22to read:
SB62,251,223 224.71 (17) "Table funding" means a transaction in which a person conducts
24a residential mortgage loan closing in the person's name with funds provided by a 3rd

1party and the person assigns the residential mortgage loan to the 3rd party within
224 hours of the residential mortgage loan closing.
SB62, s. 585 3Section 585. 224.71 (6) (a) 1. and 2. and (b) of the statutes are created to read:
SB62,251,44 224.71 (6) (a) 1. Takes a residential mortgage loan application.
SB62,251,55 2. Offers or negotiates terms of a residential mortgage loan.
SB62,251,66 (b) "Mortgage loan originator" does not include any of the following:
SB62,251,117 1. An individual engaged solely as a loan processor or underwriter, unless the
8individual represents to the public, through advertising or another means of
9communication such as the use of business cards, stationery, brochures, signs, rate
10lists, or other promotional items, that the individual can or will perform any of the
11activities of a mortgage loan originator.
SB62,251,1512 2. An individual who performs real estate brokerage activities only and is
13licensed under s. 452.03, unless the individual is compensated by a lender, mortgage
14broker, or another mortgage loan originator or by any agent of a lender, mortgage
15broker, or another mortgage loan originator.
SB62,251,1716 3. An individual solely involved in extensions of credit relating to time-share
17plans, as defined in 11 USC 101 (53D).
SB62, s. 586 18Section 586. 224.71 (7) of the statutes is created to read:
SB62,251,2519 224.71 (7) "Nationwide mortgage licensing system and registry" means the
20licensing and registration system developed and maintained by the Conference of
21State Bank Supervisors and the American Association of Residential Mortgage
22Regulators for licensed mortgage loan originators and mortgage loan originators
23exempt from licensing under s. 224.726 (1) or, if this system is no longer maintained,
24any system established by the secretary of the federal department of housing and
25urban development under P.L. 110-289, Title V, section 1509.
SB62, s. 587
1Section 587. 224.71 (8) of the statutes is created to read:
SB62,252,62 224.71 (8) "Negotiate," with respect to a residential mortgage loan, means to
3discuss, explain, or present the terms and conditions, including rates, fees, and other
4costs, of a residential mortgage loan with or to a residential mortgage loan applicant,
5but does not include making an underwriting decision on a residential mortgage loan
6or closing a residential mortgage loan.
SB62, s. 588 7Section 588. 224.71 (10) of the statutes is created to read:
SB62,252,98 224.71 (10) "Nontraditional mortgage product" means any mortgage product
9other than a 30-year fixed rate mortgage.
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