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SB21,3913 5Section 3913. 234.84 (3) of the statutes is renumbered 235.84 (3), and 235.84
6(3) (intro.) and (c), as renumbered, are amended to read:
SB21,1450,97 235.84 (3) Eligible loans. (intro.) A loan is eligible for guarantee of collection
8from the Wisconsin job training reserve fund under s. 234.932 235.932 if all of the
9following apply:
SB21,1450,1110 (c) The interest rate on the loan, including any origination fees or other charges,
11is approved by the corporation authority.
SB21,3914 12Section 3914. 234.84 (4) of the statutes is renumbered 235.84 (4) and amended
13to read:
SB21,1450,2114 235.84 (4) Guarantee of collection. (a) Subject to par. (b), the authority shall
15guarantee collection of a percentage of the principal of, and all interest and any other
16amounts outstanding on, any loan eligible for a guarantee under sub. (2). The
17corporation authority shall establish the percentage of the principal of an eligible
18loan that will be guaranteed, using the procedures described in the agreement under
19s. 234.932 235.932 (3) (a). The corporation authority may establish a single
20percentage for all guaranteed loans or establish different percentages for eligible
21loans on an individual basis.
SB21,1450,2422 (b) Except as provided in s. 234.932 235.932 (4), the total outstanding
23guaranteed principal amount of all loans that the authority may guarantee under
24par. (a) may not exceed $8,000,000.
SB21,3915 25Section 3915. 234.84 (5) (a) of the statutes is repealed.
SB21,3916
1Section 3916. 234.84 (5) (b) of the statutes is renumbered 235.84 (5) and
2amended to read:
SB21,1451,53 235.84 (5) The corporation authority may charge a premium, fee, or other
4charge to a borrower of a guaranteed loan under this section for the administration
5of the loan guarantee.
SB21,3917 6Section 3917. 234.86 of the statutes is renumbered 235.86, and 235.86 (2)
7(intro.) and (c) and (4) (a) and (b), as renumbered, are amended to read:
SB21,1451,108 235.86 (2) Guarantee requirements. (intro.) The authority may use money
9from the Wisconsin drinking water reserve fund under s. 234.932 235.932 to
10guarantee a loan under this section if all of the following apply:
SB21,1451,1211 (c) The lender is a financial institution that enters into an agreement under s.
12234.933 235.933 (3) (a).
SB21,1451,19 13(4) (a) Subject to par. (b), the authority may guarantee collection of a
14percentage, not exceeding 80%, of the principal of any loan eligible for a guarantee
15under this section. The authority shall establish the percentage of the unpaid
16principal of an eligible loan that will be guaranteed using the procedures described
17in the guarantee agreement under s. 234.933 235.933 (3) (a). The authority may
18establish a single percentage for all guaranteed loans or establish different
19percentages for eligible loans on an individual basis.
SB21,1451,2120 (b) Except as provided in s. 234.933 235.933 (4), the total outstanding principal
21amount of all guaranteed loans under par. (a) may not exceed $3,000,000.
SB21,3918 22Section 3918. 234.86 (1) (c) of the statutes is amended to read:
SB21,1451,2523 234.86 (1) (c) "Local governmental unit" has the meaning given in s. 281.61 (1)
24(a) (am), except that the term does not include a joint local water authority created
25under s. 66.0823.
SB21,3919
1Section 3919. 234.88 of the statutes is renumbered 235.88, and 235.88 (1) (c),
2(2) (intro.) and (6), as renumbered, are amended to read:
SB21,1452,63 235.88 (1) (c) "Participating lender" means a bank, production credit
4association, credit union, savings bank, savings and loan association, or other person
5who makes emergency heating assistance loans and who has entered into an
6agreement with the authority under s. 234.93 235.93 (2) (a).
SB21,1452,10 7(2) Eligible loans. (intro.) An emergency heating assistance loan made by a
8participating lender is eligible for guarantee of collection under sub. (5) from the
9Wisconsin development reserve fund under s. 234.93 235.93 if all of the following
10apply:
SB21,1452,14 11(6) Interest reduction. The authority shall pay, from the moneys in the
12Wisconsin development reserve fund under s. 234.93 235.93, to each participating
13lender an amount equal to 3.5 percent of the principal amount of any guaranteed loan
14to reduce interest payments on the guaranteed loan paid by an individual.
SB21,3920 15Section 3920. 234.90 of the statutes is renumbered 235.90, and 235.90 (1) (d)
16and (2) (intro.), as renumbered, are amended to read:
SB21,1452,2017 235.90 (1) (d) "Participating lender" means a bank, production credit
18association, credit union, savings bank, savings and loan association or other person
19who makes agricultural production loans and who has entered into an agreement
20with the authority under s. 234.93 235.93 (2) (a).
SB21,1452,24 21(2) Eligible loans. (intro.) Except as provided in sub. (3j), an agricultural
22production loan made by a participating lender is eligible for guarantee of collection
23from the Wisconsin development reserve fund under s. 234.93 235.93 if all of the
24following apply:
SB21,3921
1Section 3921. 234.905 of the statutes is renumbered 235.905, and 235.905 (1)
2(f), (2) (intro.) and (4) (b), as renumbered, are amended to read:
SB21,1453,63 235.905 (1) (f) "Participating lender" means a bank, production credit
4association, credit union, savings bank, savings and loan association or other person
5who makes agricultural production drought assistance loans and who has entered
6into an agreement with the authority under s. 234.93 235.93 (2) (a).
SB21,1453,10 7(2) Eligible loans. (intro.) An agricultural production drought assistance loan
8made by a participating lender is eligible for guarantee of collection from the
9Wisconsin development reserve fund under s. 234.93 235.93 if all of the following
10apply:
SB21,1453,13 11(4) (b) Except as provided in s. 234.93 235.93 (3), the total principal amounts
12of all agricultural production drought assistance loans which the authority may
13guarantee under par. (a) may not exceed $30,000,000.
SB21,3922 14Section 3922. 234.907 of the statutes is renumbered 235.907, and 235.907 (1)
15(e), (2) (intro.) and (3), as renumbered, are amended to read:
SB21,1453,1916 235.907 (1) (e) "Participating lender" means a bank, credit union, savings
17bank, savings and loan association or other person, who makes loans for working
18capital or to finance physical plant needs, equipment or machinery and who has
19entered into an agreement with the authority under s. 234.93 235.93 (2) (a).
SB21,1453,22 20(2) Eligible loans. (intro.) A loan made by a participating lender is eligible
21for guarantee of collection from the Wisconsin development reserve fund under s.
22234.93 235.93 if all of the following apply:
SB21,1454,4 23(3) Guarantee of collection. The authority shall guarantee collection of a
24percentage, not exceeding 90%, of the principal of any loan eligible for a guarantee
25under sub. (2). The authority shall establish the percentage of the unpaid principal

1of an eligible loan that will be guaranteed, using the procedures described in the
2guarantee agreement under s. 234.93 235.93 (2) (a). The authority may establish a
3single percentage for all guaranteed loans or establish different percentages for
4eligible loans on an individual basis.
SB21,3923 5Section 3923. 234.91 of the statutes is renumbered 235.91, and 235.91 (1) (e)
6and (2) (intro.), as renumbered, are amended to read:
SB21,1454,117 235.91 (1) (e) "Participating lender" means a bank, farm credit service, credit
8union, savings bank, savings and loan association or other person who makes loans
9for the acquisition or improvement of agricultural assets and who has entered into
10an agreement with the authority under s. 234.93 235.93 (2) (a). The term does not
11include a seller under a land contract.
SB21,1454,14 12(2) Eligible loans. (intro.) A loan made by a participating lender is eligible
13for guarantee of collection from the Wisconsin development reserve fund under s.
14234.93 235.93 if all of the following apply:
SB21,3924 15Section 3924. 234.92 of the statutes is renumbered 235.92.
SB21,3925 16Section 3925. 234.93 of the statutes is renumbered 235.93, and 235.93 (1) (a),
17(b), (cm) and (d) and (4) (a) 2. and 3. and (b) (intro.), as renumbered, are amended to
18read:
SB21,1454,2119 235.93 (1) (a) Moneys appropriated to the authority under s. 20.490 (5) (a), (q)
2020.885 (2) (qm), (r), and (s) or (3) (ap) or received by the authority for the Wisconsin
21development reserve fund from any other source.
SB21,1454,2322 (b) Any income from investment of money in the Wisconsin development
23reserve fund by the authority under s. 234.03 (18).
SB21,1455,3
1(cm) Any moneys transferred under 1999 Wisconsin Act 9, section 9125 (1), or
2under s. 234.75 235.75 (5) (c), from the housing rehabilitation loan program
3administration fund.
SB21,1455,54 (d) To be used for guaranteeing loans under s. 234.91 235.91, fees collected
5under s. 234.91 235.91 (4).
SB21,1455,10 6(4) (a) 2. To fund guarantees under all of the programs guaranteed by funds
7from the Wisconsin development reserve fund, except for the program under s.
8234.935, 1997 stats., and the program under s. 234.75 235.75, at a ratio of $1 of
9reserve funding to $4.50 of total outstanding principal and outstanding guaranteed
10principal that the authority may guarantee under all of those programs.
SB21,1455,1411 3. To fund guarantees under the program under s. 234.935, 1997 stats., and the
12program under s. 234.75 235.75 at a ratio of $1 of reserve funding to $4 of total
13principal and outstanding guaranteed principal that the authority may guarantee
14under that program.
SB21,1455,1715 (b) (intro.) Annually on August 31, the executive director of the authority shall
16provide to the secretary of administration and to the joint committee on finance a
17signed statement that includes all of the following:
SB21,3926 18Section 3926. 234.932 of the statutes is renumbered 235.932, and 235.932 (2)
19(intro.) and (b), as renumbered, are amended to read:
SB21,1455,2320 235.932 (2) Establishment of fund. (intro.) There is established under the
21jurisdiction and control of the authority, for the purpose of providing funds for
22guaranteeing loans under s. 234.84 235.84, a Wisconsin job training reserve fund,
23consisting of all of the following:
SB21,1455,2524 (b) Any income from investment of money in the Wisconsin job training reserve
25fund by the authority under s. 234.03 (18).
SB21,3927
1Section 3927. 234.933 of the statutes is renumbered 235.933, and 235.933 (1),
2(2) (intro.) and (b), as renumbered, are amended to read:
SB21,1456,43 235.933 (1) Definition. In this section, "drinking water loan guarantee
4program" means the program under s. 234.86 235.86.
SB21,1456,8 5(2) Establishment of fund. (intro.) There is established under the jurisdiction
6and control of the authority, for the purpose of providing funds for guaranteeing loans
7under s. 234.86 235.86, a Wisconsin drinking water reserve fund, consisting of all of
8the following:
SB21,1456,109 (b) Any income from investment of money in the Wisconsin drinking water
10reserve fund by the authority under s. 234.03 (18).
SB21,3928 11Section 3928. Subchapter III (title) of chapter 234 [precedes 234.94] of the
12statutes is renumbered subchapter VI (title) of chapter 235 [precedes 235.94].
SB21,3929 13Section 3929. 234.94 of the statutes is renumbered 235.94, and 235.94 (2) (b)
145. and (3), as renumbered, are amended to read:
SB21,1456,1715 235.94 (2) (b) 5. The corporation's purpose is to promote the employment of
16members of a target group through projects that meet the conditions specified in s.
17234.96 235.96 (1) (a) to (d).
SB21,1456,19 18(3) "Community development finance company" means a corporation or a
19limited partnership organized for profit under s. 234.95 235.95.
SB21,3930 20Section 3930. 234.95 of the statutes is renumbered 235.95, and 235.95 (2), as
21renumbered, is amended to read:
SB21,1456,2522 235.95 (2) The community development finance company shall issue stock or
23partnership interests. The community development finance company shall invest
24funds it receives from the sale of stock or partnership interests by purchasing capital
25participation instruments under s. 234.96 235.96.
SB21,3931
1Section 3931. 234.96 of the statutes is renumbered 235.96.
SB21,3932 2Section 3932. 234.97 of the statutes is renumbered 235.97, and 235.97 (intro.)
3and (2), as renumbered, are amended to read:
SB21,1457,5 4235.97 Sale or purchase of stock or interest. (intro.) Subject to s. 234.96
5235.96 (1) (h), the authority shall do all of the following:
SB21,1457,8 6(2) Use funds received from contributions, gifts, or grants under s. 234.03 (32)
7to purchase community development finance company stock or partnership interests
8or make grants or loans to community development corporations.
SB21,3933 9Section 3933. 234.98 of the statutes is renumbered 235.98.
SB21,3934 10Section 3934. Chapter 235 of the statutes is created to read:
SB21,1457,1111 chapter 235
SB21,1457,1312 Forward Wisconsin
13 Development Authority
SB21,1457,1414 Subchapter i
SB21,1457,1515 general provisions
SB21,1457,16 16235.01 Definitions. In this chapter:
SB21,1457,17 17(1) "Authority" means the Forward Wisconsin Development Authority.
SB21,1457,18 18(2) "Board" means the board of directors of the authority.
SB21,1457,23 19235.011 Creation and organization. (1) There is created a public body
20corporate and politic, to be known as the "Forward Wisconsin Development
21Authority." The members of the board shall consist of 12 public members nominated
22by the governor, and with the advice and consent of the senate appointed, to serve
234-year terms. All members shall be employed in the private sector.
SB21,1458,2 24(2) Seven members of the board constitutes a quorum for the purpose of
25conducting its business and exercising its powers and for all other purposes. Action

1may be taken by the board upon a vote of a majority of a quorum. The board shall
2elect a chairperson.
SB21,1458,4 3(3) A vacancy on the board shall be filled in the same manner as the original
4appointment to the board for the remainder of the unexpired term.
SB21,1458,7 5(4) (a) A chief executive officer shall be nominated by the governor, approved
6by the board, and with the advice and consent of the senate appointed, to serve at the
7pleasure of the governor.
SB21,1458,98 (b) A chief operating officer shall be nominated by the governor, and with the
9approval of the board appointed, to serve at the pleasure of the governor.
SB21,1458,1310 (c) The board may delegate to the chief executive officer and chief operating
11officer any powers and duties the board considers proper. The chief executive officer
12and chief operating officer shall receive such compensation as may be determined by
13the board.
SB21,1458,1614 (d) The governor shall coordinate with the chief executive officer as if the chief
15executive officer were the secretary of a department in the executive branch of state
16government who is appointed by the governor.
SB21,1458,19 17(5) All powers and duties assigned to the authority under this chapter shall be
18exercised or carried out by the board, unless the board delegates the power or duty
19to an employee of the authority or a committee established by the board.
SB21,1458,22 20235.012 Powers of the board. The board shall have all the powers necessary
21or convenient to carry out the purposes and provisions of this chapter. In addition
22to all other powers granted the board by law, the board may:
SB21,1458,24 23(1) Adopt, amend, and repeal any bylaws, policies, and procedures for the
24regulation of its affairs and the conduct of its business.
SB21,1458,25 25(2) Have a seal and alter the seal at pleasure.
SB21,1459,1
1(3) Maintain offices.
SB21,1459,2 2(4) Sue and be sued.
SB21,1459,4 3(5) Accept gifts, grants, loans, or other contributions from private or public
4sources.
SB21,1459,6 5(6) Establish the authority's annual budget and monitor the fiscal
6management of the authority.
SB21,1459,8 7(7) Make equity investments and execute contracts, securities, mortgages, and
8other instruments required for the operation of the authority.
SB21,1459,10 9(8) Employ any officers, agents, and employees that it may require and
10determine their qualifications, duties, and compensation.
SB21,1459,11 11(9) Issue notes, bonds, and any other obligations.
SB21,1459,12 12(10) Make loans and provide grants.
SB21,1459,13 13(11) Incur debt.
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