SB21,3865 15Section 3865. 234.26 of the statutes is renumbered 235.0277.
SB21,3866 16Section 3866. 234.265 of the statutes is renumbered 235.0279 and amended
17to read:
SB21,1430,20 18235.0279 Records of the authority. All records of the authority or any
19corporation established by the authority shall be open to the public as provided in
20s. 19.35 (1)
, except:
SB21,1430,24 21(1) Those records relating to pending grants, economic development loans,
22economic development projects,
or housing projects which that, in the opinion of the
23authority, must remain confidential to protect the competitive nature of the grant,
24loan, or project.
SB21,1431,9
1(2) Records or portions of records consisting of personal or financial
2information provided by a person seeking a grant or, loan under s. 234.63, 2007
3stats., or s. 234.04, 234.08, 234.49, 234.59, 234.592, 234.605, 234.61, 234.65, 234.67,
4234.83, 234.84, 234.90, 234.905, 234.907, or 234.91, seeking a loan under ss. 234.621
5to 234.626, seeking financial assistance under s. 234.66, 2005 stats., seeking
6mortgage loan refinancing from a lender under s. 234.605, seeking investment of
7funds under s. 234.03 (18m), or in which the authority has invested funds under s.
8234.03 (18m), unless the person consents to disclosure of the information
, tax credit,
9or other assistance from the authority
.
SB21,3867 10Section 3867. 234.28 of the statutes is renumbered 235.028.
SB21,3868 11Section 3868. 234.29 of the statutes is renumbered 235.0283.
SB21,3869 12Section 3869. 234.30 of the statutes is renumbered 235.0285.
SB21,3870 13Section 3870. 234.31 of the statutes is renumbered 235.0287.
SB21,3871 14Section 3871. 234.32 of the statutes is renumbered 235.0289.
SB21,3872 15Section 3872 . 234.35 of the statutes is renumbered 235.0291, and 235.0291
16(1), as renumbered, is amended to read:
SB21,1431,2017 235.0291 (1) In this section, "minority business", "minority financial adviser"
18and "minority investment firm" mean a business, financial adviser and investment
19firm, respectively, certified by the department of administration under s. 16.287
20203.07 (2).
SB21,3873 21Section 3873 . 234.36 of the statutes is renumbered 235.0293, and 235.0293
22(1), as renumbered, is amended to read:
SB21,1431,2523 235.0293 (1) In this section, "business," "financial adviser," and "investment
24firm" mean a business, financial adviser, and investment firm certified by the
25department of administration
under s. 16.283 203.03 (3).
SB21,3874
1Section 3874. 234.40 of the statutes is renumbered 235.409, and 235.409 (2),
2(3) and (4), as renumbered, are amended to read:
SB21,1432,93 235.409 (2) Bonds issued under the authority of this section are payable out
4of revenues or moneys received from the repayment of veterans housing loans and
5related funds made available in ss. 234.42 235.42 and 234.43 235.43. All assets and
6liabilities created through the issuance of bonds to purchase mortgage loans
7representing veterans housing loans are to be separate from all other assets and
8liabilities of the authority. No funds of the veterans housing loan program may be
9commingled with any other funds of the authority.
SB21,1432,14 10(3) It is the intent of the legislature that the authority be used to finance the
11veterans housing program. Nothing in this chapter subchapter shall be construed
12to supersede the powers vested by subch. III of ch. 45 in the department of veterans
13affairs for carrying out program responsibilities for which debt has been incurred by
14the authority.
SB21,1432,19 15(4) The limitations established in ss. 234.18, 234.50, 234.60, 234.61, and 234.65
16235.0255, 235.50, 235.60, and 235.61 are not applicable to bonds issued under the
17authority of this section. The authority may not have outstanding at any one time
18bonds for veterans housing loans in an aggregate principal amount exceeding
19$61,945,000, excluding bonds being issued to refund outstanding bonds.
SB21,3875 20Section 3875. 234.41 of the statutes is renumbered 235.41, and 235.41 (3), as
21renumbered, is amended to read:
SB21,1433,322 235.41 (3) Moneys of the veterans housing loan fund may be invested as
23provided in s. 234.03 (18) policies and procedures established by the authority. All
24such investments shall be the exclusive property of the fund. All earnings on or
25income from such investments shall be credited to the fund, paid over to the

1department of veterans affairs and deposited in the veterans trust fund after
2payment or repayment of any deficits arising in the veterans capital reserve fund and
3after payment of expenses contained in sub. (4).
SB21,3876 4Section 3876. 234.42 of the statutes is renumbered 235.42, and 235.42 (1s)
5and (4), as renumbered, are amended to read:
SB21,1433,126 235.42 (1s) The authority shall establish the veterans capital reserve fund to
7secure the veterans housing bonds sold pursuant to s. 234.40 235.409, and shall pay
8into the veterans capital reserve fund any moneys appropriated and made available
9by the state for the purposes of such fund, any proceeds of sale of bonds, to the extent
10provided in the resolution of the authority authorizing the issuance thereof and any
11other moneys which are made available to the authority for the purpose of such fund
12from any other source.
SB21,1434,3 13(4) To assure the continued operation and solvency of the authority for the
14carrying out of the veterans housing loan program of this chapter subchapter, the
15authority shall accumulate in the veterans capital reserve fund an amount equal to
16the veterans capital reserve fund requirement. If at any time the veterans capital
17reserve fund requirement exceeds the amount of the veterans capital reserve fund,
18the chairperson of the authority shall certify to the secretary of administration, the
19governor and the joint committee on finance, the amount necessary to restore the
20veterans capital reserve fund to an amount equal to the veterans capital reserve fund
21requirement. If such certification is received by the secretary of administration in
22an even-numbered year prior to the completion of the budget compilation under s.
2316.43, the secretary shall include the certified amount in the budget compilation. In
24any case, the joint committee on finance shall introduce in either house, in bill form,
25an appropriation of the amount so certified to the veterans capital reserve fund of the

1authority. Recognizing its moral obligation to do so, the legislature hereby expresses
2its expectation and aspiration that, if ever called upon to do so, it shall make such
3appropriation.
SB21,3877 4Section 3877. 234.43 of the statutes is renumbered 235.43, and 235.43 (1), as
5renumbered, is amended to read:
SB21,1434,116 235.43 (1) The authority shall establish the veterans housing bond redemption
7fund. All mortgages purchased with moneys from the veterans housing loan fund
8shall be the exclusive property of the bond redemption fund. All moneys received by
9the authority from the repayment of veterans housing loans shall be deposited into
10such fund to be used for the repayment of veterans housing bonds issued pursuant
11to s. 234.40 235.409.
SB21,3878 12Section 3878. 234.44 of the statutes is renumbered 235.44 and amended to
13read:
SB21,1435,2 14235.44 Validation of certain obligations and proceedings.
15Notwithstanding any provision of this chapter or any other law, in the absence of
16fraud, all obligations issued prior to May 4, 1976 purportedly pursuant to this
17chapter ch. 234, 2013 stats., and all proceedings prior to such time taken purportedly
18pursuant to this chapter ch. 234, 2013 stats., for the authorization and issuance of
19such obligations or of obligations not yet issued, and the sale, execution, and delivery
20of such obligations issued prior to May 4, 1976, are hereby validated, ratified,
21approved, and confirmed, notwithstanding any lack of power, however patent, other
22than constitutional, of the issuing authority or the governing body or officer thereof,
23to authorize such obligations, or to sell, execute, or deliver the same, and
24notwithstanding any defects or irregularities, however patent, other than
25constitutional, in such proceeding or in such sale, execution, or delivery of such

1obligations. All such obligations issued prior to May 4, 1976 are binding, legal
2obligations in accordance with their terms.
SB21,3879 3Section 3879. 234.49 of the statutes is renumbered 235.49, and 235.49 (1)
4(intro.) and (2) (a) (intro.), 6. and 8., as renumbered, are amended to read:
SB21,1435,55 235.49 (1) Definitions. (intro.) In ss. 234.49 235.49 to 234.55 235.55:
SB21,1435,8 6(2) (a) (intro.) The authority has the following powers for the purpose of
7implementing this section, in addition to all other powers granted by this chapter
8subchapter:
SB21,1435,159 6. To enter into contracts or agreements with authorized lenders and sponsors
10providing for the maximum and minimum acceptable rates of interest to be charged
11for various classifications of housing rehabilitation loans. In no event may the stated
12rate of interest on any housing rehabilitation loan under this section exceed the
13greater of 8% per year or 3% plus the rate necessary to fully repay interest and
14principal on housing rehabilitation loan program bonds issued pursuant to s. 234.50
15235.50.
SB21,1435,1716 8. To adopt procedures and forms necessary to effectuate the rehabilitation
17program or to facilitate the marketing of bonds issued under s. 234.50 235.50.
SB21,3880 18Section 3880. 234.50 of the statutes is renumbered 235.50, and 235.50 (1), (2)
19and (4), as renumbered, are amended to read:
SB21,1436,520 235.50 (1) The authority may issue its negotiable bonds in such principal
21amount and of such length of maturity as, in the opinion of the authority, is necessary
22to provide sufficient funds for purchasing housing rehabilitation loans or for funding
23commitments for loans to lenders for housing rehabilitation loans; for purchasing
24property tax deferral loans under s. 234.49 235.49 (2) (a) 10.; for the establishment
25of reserves to secure such bonds; and for all other expenditures of the authority

1incident to or necessary and convenient in connection therewith. The authority may,
2whenever it deems refunding expedient, refund any bonds by the issuance of new
3bonds whether the bonds to be refunded have or have not matured, and issue bonds
4partly to refund bonds then outstanding and partly for the purpose authorized by
5this section.
SB21,1436,15 6(2) Bonds issued under the authority of this section shall be special obligations
7of the authority payable solely out of revenues, moneys or other property received in
8connection with the housing rehabilitation loan program, including, without
9limitation, repayments of housing rehabilitation loans, federal insurance or
10guarantee payments, the proceeds of bonds issued under the authority of this
11section, and the amounts made available under ss. 234.54 235.54 and 234.55 235.55.
12All assets and liabilities created through the issuance of bonds to purchase housing
13rehabilitation loans shall be separate from all other assets and liabilities of the
14authority. No funds of the housing rehabilitation loan program may be commingled
15with any other funds of the authority.
SB21,1436,22 16(4) The limitations established in ss. 234.18, 234.40, 234.60, 234.61, and 234.65
17235.0255, 235.409, 235.60, and 235.61 are not applicable to bonds issued under the
18authority of this section. The authority may not have outstanding at any one time
19bonds for housing rehabilitation loans in an aggregate principal amount exceeding
20$100,000,000, excluding bonds being issued to refund outstanding bonds. The
21authority shall consult with and coordinate the issuance of bonds with the building
22commission prior to the issuance of bonds.
SB21,3881 23Section 3881. 234.51 of the statutes is renumbered 235.51, and 235.51 (1), (2)
24(a) and (3), as renumbered, are amended to read:
SB21,1437,6
1235.51 (1) There is established under the jurisdiction of the authority a housing
2rehabilitation loan program administration fund. There shall be paid into such fund
3the amounts appropriated under s. 20.490 20.885 (2) (a) (ad), the amounts provided
4in s. 234.55 235.55, any amounts transferred by the authority to such fund from other
5funds or sources and any other moneys which may be available to the authority for
6the purpose of such fund from any other source.
SB21,1437,10 7(2) (a) To pay all administrative costs, expenses, and charges, including
8origination fees and servicing fees, incurred in conducting the housing rehabilitation
9loan program other than those described in ss. 234.53 235.53 (4) and 234.55 235.55
10(2) (b).
SB21,1437,14 11(3) Moneys of the fund may be invested as provided in s. 234.03 (18) policies
12and procedures established by the authority
. All such investments shall be the
13exclusive property of the fund. All earnings on or income from such investments
14shall be credited to the fund.
SB21,3882 15Section 3882. 234.52 of the statutes is renumbered 235.52, and 235.52 (1), (2)
16and (3), as renumbered, are amended to read:
SB21,1437,2217 235.52 (1) There is established under the jurisdiction of the authority a housing
18rehabilitation loan program loan-loss reserve fund. There shall be paid into such
19fund the amounts appropriated under s. 20.490 20.885 (2) (q), the amounts provided
20under s. 234.55 235.55, any amounts transferred by the authority to such fund from
21other funds or sources and any other moneys which may be available to the authority
22for the purposes of such fund from any other source.
SB21,1438,5 23(2) Subject to agreements with bondholders, the authority shall use moneys in
24the fund solely for transfer to the housing rehabilitation loan program bond
25redemption fund in amounts equal to losses on housing rehabilitation loans owned

1by that fund which are not made good by federal insurance or guarantee payments,
2and solely for the purposes described in s. 234.55 235.55 (2) (a). Any balance
3remaining after payment or due provision for payment of all outstanding bonds
4issued under the authority of s. 234.50 235.50 shall be transferred to the housing
5rehabilitation loan program administration fund.
SB21,1438,9 6(3) Moneys of the fund may be invested as provided in s. 234.03 (18) policies
7and procedures established by the authority
. All such investments shall be the
8exclusive property of the fund. All earnings on or income from such investments
9shall be credited to the fund.
SB21,3883 10Section 3883. 234.53 of the statutes is renumbered 235.53, and 235.53 (1), (2)
11and (3), as renumbered, are amended to read:
SB21,1438,1612 235.53 (1) The authority shall establish the housing rehabilitation loan fund.
13All moneys resulting from the sale of bonds issued under the authority of s. 234.50
14235.50, not including bonds issued to refund outstanding bonds, and unless credited
15to the housing rehabilitation loan program capital reserve or bond redemption funds,
16shall be credited to such fund.
SB21,1438,21 17(2) The authority shall use moneys in the fund for the purpose of purchasing
18housing rehabilitation loans or for funding commitments for loans to lenders for
19housing rehabilitation loans. All disbursements of funds under this section for
20purchasing such loans shall be made payable to an authorized lender as defined in
21s. 234.49 235.49 (1) (b) or a duly authorized agent thereof.
SB21,1438,25 22(3) Moneys of the fund may be invested as provided in s. 234.03 (18) policies
23and procedures established by the authority
. All such investments shall be the
24exclusive property of the fund. All earnings on or income from such investments
25shall be credited to the fund.
SB21,3884
1Section 3884. 234.54 of the statutes is renumbered 235.54, and 235.54 (1r)
2and (4) (a), as renumbered, are amended to read:
SB21,1439,93 235.54 (1r) The authority shall establish the housing rehabilitation loan
4program capital reserve fund to secure the bonds issued under the authority of s.
5234.50 235.50, and shall pay into such fund any moneys appropriated and made
6available by the state for the purposes of such fund, any proceeds of sale of housing
7rehabilitation bonds to the extent provided in the resolution of the authority
8authorizing the issuance thereof and any other moneys which are made available to
9the authority for the purpose of such fund from any other source.
SB21,1439,13 10(4) (a) To assure the continued operation and solvency of the authority for the
11carrying out of the public purposes of this chapter subchapter, the authority shall
12accumulate in the capital reserve fund an amount equal to the capital reserve fund
13requirement for such fund.
SB21,3885 14Section 3885. 234.55 of the statutes is renumbered 235.55, and 235.55 (1) and
15(4), as renumbered, are amended to read:
SB21,1440,316 235.55 (1) The authority shall establish the housing rehabilitation loan
17program bond redemption fund. All housing rehabilitation loans purchased with
18moneys from the housing rehabilitation loan fund or notes evidencing loans to
19lenders from such fund for housing rehabilitation loans shall be the exclusive
20property of such redemption fund. All moneys received from the repayment of such
21loans, any amounts transferred by the authority to such fund pursuant to s. 234.52
22235.52 or from other funds or sources, any federal insurance or guarantee payments
23with respect to such loans, all moneys resulting from the sale of bonds for the purpose
24of refunding outstanding housing rehabilitation bonds unless credited to the housing
25rehabilitation loan program capital reserve fund, and any other moneys which may

1be available to the authority for the purpose of such fund, shall be deposited into such
2fund to be used for the repayment of housing rehabilitation bonds issued under the
3authority of s. 234.50 235.50.
SB21,1440,7 4(4) Moneys of the fund may be invested as provided in s. 234.03 (18) policies
5and procedures established by the authority
. All such investments shall be the
6exclusive property of the fund. All earnings on or income from such investments
7shall be credited to the fund.
SB21,3886 8Section 3886. 234.59 of the statutes is renumbered 235.59, and 235.59 (2) (e)
9and (3) (bc) 3., as renumbered, are amended to read:
SB21,1440,1210 235.59 (2) (e) May enter into agreements to insure or provide additional
11security for homeownership mortgage loans or bonds or notes issued under s. 234.60
12235.60.
SB21,1440,17 13(3) (bc) 3. If the authority sets aside at least 20% of the proceeds of a bond or
14note issuance under s. 234.60 235.60 to fund home ownership mortgage loans for
15eligible properties that are targeted area residences, the authority may apply up to
1633% of the proceeds that are set aside for that purpose without regard to the income
17of the applicant.
SB21,3887 18Section 3887. 234.592 of the statutes is renumbered 235.592, and 235.592 (1)
19(a), (b) and (c) and (2) (c), as renumbered, are amended to read:
SB21,1440,2120 235.592 (1) (a) "Authorized lender" has the meaning given in s. 234.59 235.59
21(1) (a).
SB21,1440,2222 (b) "Eligible property" has the meaning given in s. 234.59 235.59 (1) (d) 1.
SB21,1440,2323 (c) "Principal residence" has the meaning given in. s. 234.59 235.59 (1) (j).
SB21,1440,25 24(2) (c) May enter into agreements to insure or provide additional security for
25loans or bonds or notes issued under s. 234.60 235.60.
SB21,3888
1Section 3888. 234.60 of the statutes is renumbered 235.60, and 235.60 (1), (2),
2(5) (c) and (9), as renumbered, are amended to read:
SB21,1441,53 235.60 (1) The authority may issue its bonds or notes to fund homeownership
4mortgage loans or the refinancing of qualified subprime loans under s. 234.592
5235.592.
SB21,1441,7 6(2) The limitations in ss. 234.18, 234.40, 234.50, 234.61, and 234.65 235.0255,
7235.409, 235.50, and 235.61
do not apply to bonds or notes issued under this section.
SB21,1441,10 8(5) (c) The secretary of administration shall determine the date after which no
9bond or note may be issued under this section for the purpose of financing the
10acquisition or replacement of an existing mortgage under s. 234.592 235.592.
SB21,1441,13 11(9) The executive director of the authority shall make every effort to encourage
12participation in the homeownership mortgage loan program and the qualified
13subprime loan refinancing program by women and minorities.
SB21,3889 14Section 3889. 234.605 of the statutes is renumbered 235.605, and 235.605 (1)
15(a) and (2), as renumbered, are amended to read:
SB21,1441,1716 235.605 (1) (a) "Eligible property" has the meaning given in s. 234.59 235.59
17(1) (d) 1.
SB21,1441,21 18(2) Subject to the approval of all members of the board of directors of the
19authority, the authority may establish and administer a homeowner eviction and
20lien protection program to encourage the refinancing of mortgage loans by lenders
21in order to facilitate the retention of eligible property by persons and families.
SB21,3890 22Section 3890. 234.61 of the statutes is renumbered 235.61, and 235.61 (1), as
23renumbered, is amended to read:
SB21,1442,624 235.61 (1) Upon the authorization of the department of health services, the
25authority may issue bonds or notes and make loans for the financing of housing

1projects which are residential facilities as defined in s. 46.28 (1) (d) and the
2development costs of those housing projects, if the department of health services has
3approved the residential facilities for financing under s. 46.28 (2). The limitations
4in ss. 234.18, 234.40, 234.50, 234.60, and 234.65 235.0255, 235.409, 235.50, and
5235.60
do not apply to bonds or notes issued under this section. The definition of
6"nonprofit corporation" in s. 234.01 235.40 (9) does not apply to this section.
SB21,3891 7Section 3891. 234.621 of the statutes is renumbered 235.621.
SB21,3892 8Section 3892. 234.622 (intro.) of the statutes is renumbered 235.622 (intro.)
9and amended to read:
SB21,1442,10 10235.622 Definitions. (intro.) In ss. 234.621 to 234.626 235.621 to 235.626:
SB21,3893 11Section 3893. 234.622 (1) of the statutes is renumbered 235.622 (1).
SB21,3894 12Section 3894. 234.622 (2m) of the statutes is repealed.
SB21,3895 13Section 3895. 234.622 (3) of the statutes is renumbered 235.622 (3).
SB21,3896 14Section 3896. 234.622 (3m) of the statutes is renumbered 235.622 (3m).
SB21,3897 15Section 3897. 234.622 (4) of the statutes is renumbered 235.622 (4).
SB21,3898 16Section 3898. 234.622 (5) of the statutes is renumbered 235.622 (5) and
17amended to read:
SB21,1442,2418 235.622 (5) "Permitted obligations" means the total amount of outstanding
19liens and judgments on the qualifying dwelling unit if that amount does not exceed
2033% of the value of the unit as determined by the most recent assessment for property
21tax purposes. For purposes of ss. 234.621 235.621 to 234.626 235.626, housing and
22rehabilitation loans under s. 234.49 235.49 and liens arising under ss. 234.621
23235.621 to 234.626 235.626 shall not be considered outstanding liens or judgments
24in computing the amount of permitted obligations.
SB21,3899
1Section 3899. 234.622 (6) of the statutes is renumbered 235.622 (6) and
2amended to read:
SB21,1443,43 235.622 (6) "Program" means the program under ss. 234.621 235.621 to
4234.626 235.626.
SB21,3900 5Section 3900. 234.622 (7) of the statutes is renumbered 235.622 (7) and
6amended to read:
SB21,1443,167 235.622 (7) "Qualifying dwelling unit" means a dwelling unit, not including a
8mobile home as defined in s. 101.91 (10), located in this state, habitable as a
9permanent residence and to which property taxes or special assessments are, or may
10conveniently be, allocated and up to one acre of land appertaining to it held in the
11same ownership as the dwelling unit. For purposes of ss. 234.621 235.621 to 234.626
12235.626, "qualifying dwelling unit" includes a unit in a condominium or in a
13cooperative or an unincorporated cooperative association or in a multiunit dwelling
14with 4 or fewer units, but in all of these 3 cases only the portion of taxes or special
15assessments allocable to the unit lived in by the participant may qualify for loans
16under ss. 234.621 235.621 to 234.626 235.626.
SB21,3901 17Section 3901. 234.623 of the statutes is renumbered 235.623, and 235.623 (1)
18and (3), as renumbered, are amended to read:
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