SB1106,18,237 16.765 (8) If further violations of this section are committed during the term
8of the contract, the contracting agency, the Fox River Navigational System Authority,
9the Wisconsin Aerospace Authority, the Lower Fox River Remediation Authority, the
10Public Bank of Wisconsin,
the Wisconsin Economic Development Corporation, or the
11Bradley Center Sports and Entertainment Corporation may permit the violating
12party to complete the contract, after complying with this section, but thereafter the
13contracting agency, the Fox River Navigational System Authority, the Wisconsin
14Aerospace Authority, the Lower Fox River Remediation Authority, the Public Bank
15of Wisconsin,
the Wisconsin Economic Development Corporation, or the Bradley
16Center Sports and Entertainment Corporation shall request the department to place
17the name of the party on the ineligible list for state contracts, or the contracting
18agency, the Fox River Navigational System Authority, the Wisconsin Aerospace
19Authority, the Lower Fox River Remediation Authority, the Public Bank of
20Wisconsin,
the Wisconsin Economic Development Corporation, or the Bradley
21Center Sports and Entertainment Corporation may terminate the contract without
22liability for the uncompleted portion or any materials or services purchased or paid
23for by the contracting party for use in completing the contract.
SB1106,32 24Section 32 . 16.85 (2) of the statutes is amended to read:
SB1106,19,10
116.85 (2) To furnish engineering, architectural, project management, and other
2building construction services whenever requisitions therefor are presented to the
3department by any agency. The department may deposit moneys received from the
4provision of these services in the account under s. 20.505 (1) (kc) or in the general
5fund as general purpose revenue — earned. In this subsection, “agency" means an
6office, department, independent agency, institution of higher education, association,
7society, or other body in state government created or authorized to be created by the
8constitution or any law, which is entitled to expend moneys appropriated by law,
9including the legislature and the courts, but not including an authority created in
10subch. II of ch. 114 or in ch. 231, 233, 234, 237, 238, 239, or 279.
SB1106,33 11Section 33 . 16.865 (8) of the statutes is amended to read:
SB1106,20,212 16.865 (8) Annually in each fiscal year, allocate as a charge to each agency a
13proportionate share of the estimated costs attributable to programs administered by
14the agency to be paid from the appropriation under s. 20.505 (2) (k). The department
15may charge premiums to agencies to finance costs under this subsection and pay the
16costs from the appropriation on an actual basis. The department shall deposit all
17collections under this subsection in the appropriation account under s. 20.505 (2) (k).
18Costs assessed under this subsection may include judgments, investigative and
19adjustment fees, data processing and staff support costs, program administration
20costs, litigation costs, and the cost of insurance contracts under sub. (5). In this
21subsection, “agency" means an office, department, independent agency, institution
22of higher education, association, society, or other body in state government created
23or authorized to be created by the constitution or any law, that is entitled to expend
24moneys appropriated by law, including the legislature and the courts, but not

1including an authority created in subch. II of ch. 114 or in ch. 231, 232, 233, 234, 237,
2238, 239, or 279.
SB1106,34 3Section 34 . 19.42 (10) (t) of the statutes is created to read:
SB1106,20,54 19.42 (10) (t) The chief executive officer and members of the governing board
5of the Public Bank of Wisconsin.
SB1106,35 6Section 35 . 19.42 (13) (s) of the statutes is created to read:
SB1106,20,87 19.42 (13) (s) The chief executive officer and members of the governing board
8of the Public Bank of Wisconsin.
SB1106,36 9Section 36 . 20.005 (3) (schedule) of the statutes: at the appropriate place,
10insert the following amounts for the purposes indicated: - See PDF for table PDF
SB1106,37 11Section 37 . 20.195 of the statutes is created to read:
SB1106,20,13 1220.195 Public Bank of Wisconsin. There is appropriated to the Public Bank
13of Wisconsin for the following programs:
SB1106,20,17 14(1) Loan programs. (a) General program operations; initial funding. As a
15continuing appropriation, the amounts in the schedule for the initial costs of
16operating the Public Bank of Wisconsin and for initial funding for loans and other
17banking activities under ch. 239.
SB1106,38 18Section 38. 20.907 (5) (e) 12r. of the statutes is amended to read:
SB1106,21,2
120.907 (5) (e) 12r. Transfers from the income account of the state investment
2fund, to pay bank service costs under s. 34.045 (1) (bm).
SB1106,39 3Section 39. 34.03 (2) of the statutes is amended to read:
SB1106,21,94 34.03 (2) Require any public depository or the trustees of segregated trusts
5created by banks for the benefit of public depositors to furnish information upon
6request. Any Except as provided in s. 34.05 (5), any public depository which refuses
7or neglects to give any information so requested shall be excluded from the right to
8receive public deposits. Information obtained under this subsection may not be
9disclosed by the division of banking unless disclosed as provided in s. 220.06.
SB1106,40 10Section 40. 34.045 of the statutes is repealed.
SB1106,41 11Section 41. 34.05 (4) (intro.) of the statutes is amended to read:
SB1106,21,1712 34.05 (4) (intro.) Notwithstanding sub. (1), s. 66.0603 (1m) (a), or any other
13provision of law, the governing board of a public depositor, other than the state, may
14direct the treasurer of the governing board to deposit public moneys in a selected
15public depository and, directly or through an authorized agent, instruct the public
16depository to arrange for the redeposit of the moneys through a deposit placement
17program that meets all of the following conditions:
SB1106,42 18Section 42. 34.05 (5) of the statutes is created to read:
SB1106,21,2319 34.05 (5) (a) Notwithstanding any other provision of this chapter, the Public
20Bank of Wisconsin shall be a public depository of the state and, no later than January
211, 2028, the Public Bank of Wisconsin shall be the state's only public depository.
22Except as provided in pars. (b) and (c), to accomplish this transition, the state's public
23moneys shall be deposited as follows:
SB1106,21,2524 1. By January 1, 2025, at least 30 percent of the state's public deposits shall be
25with the Public Bank of Wisconsin.
SB1106,22,2
12. By January 1, 2026, at least 50 percent of the state's public deposits shall be
2with the Public Bank of Wisconsin.
SB1106,22,43 3. By January 1, 2027, at least 80 percent of the state's public deposits shall be
4with the Public Bank of Wisconsin.
SB1106,22,65 4. By January 1, 2028, all of the state's public deposits shall be with the Public
6Bank of Wisconsin.
SB1106,22,147 (b) No later than November 1, 2024, the governing board of the Public Bank of
8Wisconsin shall review state accounts to determine whether any public moneys
9received by the state are unsuitable for deposit in the Public Bank of Wisconsin and
10shall submit to the governor, to the secretary of administration, and to the chief clerk
11of each house of the legislature, for distribution to the appropriate standing
12committees under s. 13.172 (3), a report identifying any such public moneys. Upon
13approval of the secretary of administration, such public moneys may not be deposited
14in the Public Bank of Wisconsin.
SB1106,22,2115 (c) If the governing board of the Public Bank of Wisconsin, in consultation and
16agreement with the secretary of administration, determines that the Public Bank of
17Wisconsin does not have sufficient capacity to accept and manage the state's public
18moneys, the deposit schedule under par. (a) shall be delayed and the governing board
19shall provide to the secretary of administration a plan and time frame to begin such
20deposits. Deposits may not be delayed under this paragraph beyond December 31,
212025.
SB1106,43 22Section 43. 34.07 of the statutes is amended to read:
SB1106,23,4 2334.07 Security. A surety bond or other security, including an irrevocable letter
24of credit issued by a federal home loan bank, state bank, national bank, federal or
25state savings bank, federal or state credit union, or federal or state savings and loan

1association, may be required of or given by any public depository for any public
2deposits that exceed the amount of deposit insurance provided by an agency of the
3United States and the coverage provided under s. 34.08 (2). This section does not
4apply with respect to the Public Bank of Wisconsin.
SB1106,44 5Section 44 . 40.02 (54) (n) of the statutes is created to read:
SB1106,23,66 40.02 (54) (n) The Public Bank of Wisconsin.
SB1106,45 7Section 45 . 70.11 (38v) of the statutes is created to read:
SB1106,23,108 70.11 (38v) Public Bank of Wisconsin. All property owned by the Public Bank
9of Wisconsin, provided that use of the property is primarily related to the purposes
10of the Public Bank of Wisconsin.
SB1106,46 11Section 46. 71.26 (1) (be) of the statutes is amended to read:
SB1106,23,1512 71.26 (1) (be) Certain authorities. Income of the University of Wisconsin
13Hospitals and Clinics Authority, of the Fox River Navigational System Authority, of
14the Wisconsin Economic Development Corporation, of the Public Bank of Wisconsin,
15and of the Wisconsin Aerospace Authority.
SB1106,47 16Section 47 . 77.54 (9a) (a) of the statutes is amended to read:
SB1106,23,2017 77.54 (9a) (a) This state or any agency thereof, the University of Wisconsin
18Hospitals and Clinics Authority, the Wisconsin Aerospace Authority, the Wisconsin
19Economic Development Corporation, the Public Bank of Wisconsin, and the Fox
20River Navigational System Authority.
SB1106,48 21Section 48 . 100.45 (1) (dm) of the statutes is amended to read:
SB1106,24,622 100.45 (1) (dm) “State agency" means any office, department, agency,
23institution of higher education, association, society, or other body in state
24government created or authorized to be created by the constitution or any law which
25is entitled to expend moneys appropriated by law, including the legislature and the

1courts, the Wisconsin Housing and Economic Development Authority, the Bradley
2Center Sports and Entertainment Corporation, the University of Wisconsin
3Hospitals and Clinics Authority, the Wisconsin Health and Educational Facilities
4Authority, the Wisconsin Aerospace Authority, the Wisconsin Economic
5Development Corporation, the Public Bank of Wisconsin, and the Fox River
6Navigational System Authority.
SB1106,49 7Section 49 . 230.03 (3) of the statutes is amended to read:
SB1106,24,178 230.03 (3) “Agency" means any board, commission, committee, council, or
9department in state government or a unit thereof created by the constitution or
10statutes if such board, commission, committee, council, department, unit, or the
11head thereof, is authorized to appoint subordinate staff by the constitution or
12statute, except the Board of Regents of the University of Wisconsin System, a
13legislative or judicial board, commission, committee, council, department, or unit
14thereof or an authority created under subch. II of ch. 114 or under ch. 231, 232, 233,
15234, 237, 238, 239, or 279. “Agency" does not mean any local unit of government or
16body within one or more local units of government that is created by law or by action
17of one or more local units of government.
SB1106,50 18Section 50 . Chapter 239 of the statutes is created to read:
SB1106,24,1919 Chapter 239
SB1106,24,20 20Public Bank of Wisconsin
SB1106,24,21 21239.01 Definitions. In this chapter:
SB1106,24,22 22(1) “Affordable financing” means any of the following:
SB1106,24,2323 (a) As provided to an eligible recipient, any of the following:
SB1106,25,3
11. The provision of credit and loans, including long-term loans and unsecured
2loans, at affordable rates and for which the Public Bank of Wisconsin employs
3underwriting methods that are flexible in their criteria, terms, and uses.
SB1106,25,64 2. The provision of letters of credit, guarantees, subordinate loans, and other
5forms of risk management to facilitate additional financing from sources other than
6the Public Bank of Wisconsin.
SB1106,25,87 3. The provision of any type of financing authorized for a state bank organized
8under ch. 221.
SB1106,25,99 4. The provision of technical assistance.
SB1106,25,1110 (b) As provided to an eligible recipient under sub. (7) (c), (e), (h), or (k), any of
11the following:
SB1106,25,1312 1. The provision of equity financing, including preferred stock, common stock,
13equity-equivalent capital, and other hybrid instruments.
SB1106,25,1514 2. The provision of grants, donations, and contributions, including grants given
15over a period of years to provide predictability for an eligible recipient.
SB1106,25,16 16(2) “Affordable housing” means any of the following:
SB1106,25,1717 (a) Affordable housing, as defined in s. 66.1105 (2) (ab).
SB1106,25,1818 (b) Low-income housing, as defined in s. 70.11 (4a) (b).
SB1106,25,20 19(3) “Board," except in the phrase “board of advisors,” means the governing
20board of the Public Bank of Wisconsin.
SB1106,25,22 21(4) “Community development authority” means a housing and community
22development authority organized under s. 66.1335.
SB1106,25,24 23(5) “Community development corporation” has the meaning given in s. 234.94
24(2).
SB1106,26,2
1(6) “Division” means the division of banking in the department of financial
2institutions.
SB1106,26,4 3(7) “Eligible recipient,” with respect to affordable financing provided by the
4Public Bank of Wisconsin, means any of the following:
SB1106,26,65 (a) Any local governmental unit or enterprise managed in whole or in part by
6a local governmental unit.
SB1106,26,87 (b) A nonprofit organization that has a primary goal of benefitting the state or
8its residents through community development.
SB1106,26,99 (c) A land trust.
SB1106,26,1010 (d) A cooperative organized under ch. 185 or 193.
SB1106,26,1211 (e) An entity created by financial institutions that pools funds to lend for
12affordable housing development.
SB1106,26,1413 (f) A developer of housing or preservation projects if all the entities financing
14a project invite the Public Bank of Wisconsin to participate with financing.
SB1106,26,1815 (g) A bank, savings bank, savings and loan association, or credit union
16organized under the laws of this state if the affordable financing extended to the
17bank, savings bank, savings and loan association, or credit union is used to support
18another eligible recipient under this subsection.
SB1106,26,2019 (h) A community development authority, redevelopment authority, housing
20authority, or community development corporation.
SB1106,26,2321 (i) A small business enterprise doing business primarily in this state that offers
22a sustainable business plan and merits credit but is unable to procure affordable
23financing from other financial institutions in this state.
SB1106,26,2424 (j) A small- or medium-sized farm and its related industries.
SB1106,27,2
1(k) An investment vehicle created for the primary purpose of supporting
2another eligible recipient under this subsection.
SB1106,27,4 3(8) “Housing authority” means a housing authority organized under ss.
466.1201 to 66.1213.
SB1106,27,9 5(9) “Land trust” means a nonstock corporation or other nonprofit organization
6that acquires, manages, develops, or maintains land or easements to promote the
7preservation or restoration of land in this state for recreational, agricultural, scenic,
8residential, or commercial use, including for use related to climate security, water
9resource protection, or affordable housing.
SB1106,27,10 10(10) “Local governmental unit" has the meaning given in s. 16.97 (7).
SB1106,27,11 11(11) “Minority group member" has the meaning given in s. 16.287 (1) (f).
SB1106,27,12 12(12) “Municipality” means a city, village, or town.
SB1106,27,13 13(13) “Nonprofit organization" has the meaning given in s. 23.097 (1).
SB1106,27,16 14(14) “Participation loan” means a loan in which the Public Bank of Wisconsin
15shares in funding or overseeing an advance of credit under a written agreement
16between the originator of the loan and the Public Bank of Wisconsin.
SB1106,27,18 17(15) “Public Bank of Wisconsin" or “Bank” means the authority created under
18s. 239.02.
SB1106,27,19 19(16) “Public deposit” has the meaning given in s. 34.01 (3).
SB1106,27,21 20(17) “Redevelopment authority” means a redevelopment authority organized
21under s. 66.1333.
SB1106,27,23 22(18) “Rural area” means a municipality with a population density of less than
23500 persons per square mile, according to the latest federal decennial census.
SB1106,28,3
1(19) “Rural business concern” means a small business that has its principal
2business operations in one or more rural areas and that is engaged in an occupation
3that directly supports the economy of the rural area or areas in which it is located.
SB1106,28,4 4(20) “Small business” has the meaning given in s. 227.114 (1).
SB1106,28,6 5(21) “Underserved neighborhood” means a neighborhood that meets any of the
6following criteria:
SB1106,28,87 (a) The annual median household income in the neighborhood does not exceed
865 percent of the statewide annual median household income.
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