AB811-SSA2,39 Section 39 . 70.11 (38v) of the statutes is created to read:

AB811-SSA2,24,9 70.11 (38v) Wisconsin Student Loan Refinancing Authority. All property owned by the Wisconsin Student Loan Refinancing Authority, provided that use of the property is primarily related to the purposes of the Wisconsin Student Loan Refinancing Authority.

AB811-SSA2,40 Section 40 . 71.05 (6) (b) 28. (intro.) and h. of the statutes, as affected by 2017 Wisconsin Act 59, are amended to read:

AB811-SSA2,24,23 71.05 (6) (b) 28. (intro.) An amount paid by a claimant for tuition expenses, including any amount paid by a claimant in the year to which the claim relates on a loan, the proceeds of which were used by the claimant to pay the claimant's expenses for tuition, fees, books, room and board, and educational supplies that were directly related to the claimant's attendance at an eligible educational institution, as defined in s. 18.81 (2), and mandatory student fees for a student who is the claimant or who is the claimant's child and the claimant's dependent who is claimed under section 151 (c) of the Internal Revenue Code, to attend any university, college, technical college or a school approved under s. 440.52, that is located in Wisconsin or to attend a public vocational school or public institution of higher education in Minnesota under the Minnesota-Wisconsin reciprocity agreement under s. 39.47, calculated as follows:

AB811-SSA2,25,10 h. No modification may be claimed under this subdivision for an amount paid for tuition expenses, including any amount paid by a claimant in the year to which the claim relates on a loan, the proceeds of which were used by the claimant to pay the claimant's expenses for tuition, fees, books, room and board, and educational supplies that were directly related to the claimant's attendance at an eligible educational institution, as defined in s. 18.81 (2), and mandatory student fees, as described under this subdivision, if the source of the payment is an amount withdrawn from a college savings account, as described in s. 224.50 or from a college tuition and expenses program, as described in s. 224.48, and if the owner of the account or a parent, grandparent, great-grandparent, aunt, or uncle of the beneficiary, who contributed to the account, has claimed a deduction under subd. 32. or 33. that relates to such an amount.

AB811-SSA2,41 Section 41. 71.05 (6) (b) 28. am. of the statutes is amended to read:

AB811-SSA2,26,3 71.05 (6) (b) 28. am. Notwithstanding subd. 28. a., for taxable years beginning after December 31, 2008, the department of revenue and the Board of Regents of the University of Wisconsin System shall continue making the calculation described under subd. 28. a. Notwithstanding subd. 28. a., once this calculation exceeds $6,000, the deduction for tuition expenses, including any amount paid by a claimant in the year to which the claim relates on a loan, the proceeds of which were used by the claimant to pay the claimant's expenses for tuition, fees, books, room and board, and educational supplies that were directly related to the claimant's attendance at an eligible educational institution, as defined in s. 18.81 (2), and mandatory student fees, as described in subd. 28. (intro.), shall be based on an amount equal to not more than twice the average amount charged by the Board of Regents of the University of Wisconsin System at 4-year institutions for resident undergraduate academic fees for the most recent fall semester, as determined by the Board of Regents by September 1 of that semester, per student for each year to which the claim relates, and the deduction that may be claimed under this subd. 28. am. first applies to taxable years beginning on the January 1 after the calculation of the Board of Regents, that must occur by September 1, exceeds $6,000.

AB811-SSA2,42 Section 42 . 71.05 (6) (b) 28. j. of the statutes is created to read:

AB811-SSA2,26,6 71.05 (6) (b) 28. j. The provisions of subd. 28. b., c., d., and g. do not apply to a taxable year that begins after December 31, 2017.

AB811-SSA2,43 Section 43 . 77.54 (9a) (a) of the statutes is amended to read:

AB811-SSA2,26,11 77.54 (9a) (a) This state or any agency thereof, the University of Wisconsin Hospitals and Clinics Authority, the Wisconsin Aerospace Authority, the Wisconsin Economic Development Corporation, the Wisconsin Student Loan Refinancing Authority, and the Fox River Navigational System Authority.

AB811-SSA2,44 Section 44 . 100.45 (1) (dm) of the statutes is amended to read:

AB811-SSA2,26,22 100.45 (1) (dm) “State agency" means any office, department, agency, institution of higher education, association, society, or other body in state government created or authorized to be created by the constitution or any law which is entitled to expend moneys appropriated by law, including the legislature and the courts, the Wisconsin Housing and Economic Development Authority, the Bradley Center Sports and Entertainment Corporation, the University of Wisconsin Hospitals and Clinics Authority, the Wisconsin Health and Educational Facilities Authority, the Wisconsin Aerospace Authority, the Wisconsin Economic Development Corporation, the Wisconsin Student Loan Refinancing Authority, and the Fox River Navigational System Authority.

AB811-SSA2,45 Section 45 . 224.30 (6) of the statutes is created to read:

AB811-SSA2,26,24 224.30 (6) Student lending transparency. (a) In this subsection:

AB811-SSA2,26,25 1. “Higher education expenses" includes all of the following:

AB811-SSA2,27,1 a. Tuition and fees.

AB811-SSA2,27,2 b. Books and supplies

AB811-SSA2,27,3 c. Room and board.

AB811-SSA2,27,5 2. “Private student loan" means a loan issued by a private lending institution for the purpose of paying for or financing higher education expenses.

AB811-SSA2,27,8 3. “Private lending institution" means any private entity that itself or through an affiliate makes available student loans to pay for or finance higher education expenses.

AB811-SSA2,27,10 4. “Student borrower" means any individual who borrows money from a private lending institution to finance higher education expenses.

AB811-SSA2,27,13 (b) The department shall compile data related to private student loans for the purpose of comparing private lending institutions' student loan interest rates and repayment plans, including all of the following:

AB811-SSA2,27,14 1. Policies relating to deferment and forbearance.

AB811-SSA2,27,15 2. Loan default policies and penalties.

AB811-SSA2,27,18 3. Any other information that the department deems relevant for the purpose of creating a list of private lending institutions that provide the lowest rates and best repayment options on student loans.

AB811-SSA2,27,21 (c) 1. Using the data compiled under par. (b), the department shall create and maintain a list of private lending institutions that provide the lowest rates and best repayment options on student loans.

AB811-SSA2,28,2 2. In addition to the list under subd. 1., the department shall compile a list of the 10 best private lending institutions based on rates and policies that are most favorable to the student borrower. The department may also consider the private lending institutions' policies for allowing a student borrower to borrow more than 10 percent over the student borrower's total cost of higher education expenses when determining if a private lending institution should be placed on this list.

AB811-SSA2,28,9 (d) The department shall place the lists created and compiled under par. (c) at an easily accessible location on the department's Internet site. The department shall update its Internet site on a monthly basis to ensure that the student loan information in these lists is current and accurate. Information pertaining to lending institutions that do not make the list compiled under par. (c) 2. shall also be posted on the department's Internet site and those lending institutions that provide the worst rates and strictest repayment options shall be clearly indicated.