This is the preview version of the Wisconsin State Legislature site.
Please see http://docs.legis.wisconsin.gov for the production version.
AB68-SSA1,1160,1715 (b) After soliciting competitive sealed proposals under s. 16.75 (2m), the board
16shall select and contract with a vendor to provide the following services in
17administering the small business retirement savings program:
AB68-SSA1,1160,1818 1. Investment services.
AB68-SSA1,1160,1919 2. Accounting and record-keeping services.
AB68-SSA1,1160,2020 3. Any other professional services considered necessary by the board.
AB68-SSA1,1160,22 21(3) General program requirements. The board shall design the program
22under this section so that it meets all of the following requirements:
AB68-SSA1,1161,223 (a) The program allows eligible employees to contribute to their accounts
24through payroll deductions and requires participating employers to withhold from

1employees' wages, through payroll deductions, employees' account contributions and
2remit those contributions directly to the investment administrator.
AB68-SSA1,1161,63 (b) Subject to the record-keeping requirement under sub. (6) (b), the program
4allows the investment administrator to pool accounts for investment purposes and
5designates the investment administrator as the trustee of account contributions and
6earnings.
AB68-SSA1,1161,97 (c) The administrative costs of the program are low, and the fee that the
8investment administrator may charge an eligible employee is limited to a fixed
9monthly fee in an amount approved by the board.
AB68-SSA1,1161,1110 (d) The program does not require an eligible employee to maintain a minimum
11account balance if the employee makes contributions to the account each pay period.
AB68-SSA1,1161,1412 (e) The program allows account consolidation and roll over, including roll over
13to a retirement savings option not part of the program to the extent allowed under
14the Internal Revenue Code.
AB68-SSA1,1161,1715 (f) The program allows an eligible employee who has established an account to
16continue the account after separating from employment with a participating
17employer if the account is maintained with a positive balance.
AB68-SSA1,1161,19 18(4) Participating employers; eligible employees. (a) A private employer may
19participate in the program under this section if all of the following apply:
AB68-SSA1,1161,2020 1. The employer does not offer a retirement savings plan to all employees.
AB68-SSA1,1161,2421 2. The employer provides notice to the board, in the form and manner
22prescribed by the board, of the employer's election to participate in the program and
23the employer certifies that, on the date of this notice, the employer had 50 or fewer
24employees.
AB68-SSA1,1161,2525 3. The employer has at least one employee who is a resident of this state.
AB68-SSA1,1162,6
1(b) After a private employer has elected under par. (a) to participate in the
2program, the employer shall provide notice to each of its eligible employees of the
3eligible employee's right to decline participation in the program. After providing this
4notice, the employer shall enroll the eligible employee in the program unless the
5eligible employee informs the employer of the eligible employee's decision not to
6participate in the program.
AB68-SSA1,1162,9 7(5) Specific program requirements. (a) 1. Except as provided in subd. 2., the
8program under this section shall provide for an eligible employee who has enrolled
9in the program to make contributions to a Roth IRA account.
AB68-SSA1,1162,1310 2. The program may also offer options for account types other than a Roth IRA,
11and if other options are offered, the program shall allow an enrolled eligible employee
12to select any of these other account types for investing contributions under the
13program.
AB68-SSA1,1162,1614 (b) 1. The program under this section shall provide an eligible employee who
15has enrolled in the program with at least 5 investment options within each account
16type, including all of the following investment options:
AB68-SSA1,1162,1717 a. A stable value or capital preservation fund.
AB68-SSA1,1162,1918 b. A target date index fund or age-based fund that automatically rebalances
19asset allocations based on the eligible employee's age.
AB68-SSA1,1162,2020 c. A low-cost fund focused on income generation.
AB68-SSA1,1162,2121 d. A low-cost fund focused on asset growth.
AB68-SSA1,1162,2222 e. A low-cost fund focused on balancing risk and return.
AB68-SSA1,1163,223 2. The program under this section shall require the investment administrator
24to offer to each enrolled eligible employee, before the employee makes his or her
25investment selections, a tool allowing the employee to identify the employee's risk

1tolerance and projected retirement date as an aid to the employee in selecting
2suitable investments under the program.
AB68-SSA1,1163,63 3. The program under this section shall require that the first $1,000 of an
4enrolled eligible employee's contributions be deposited in a fund described in subd.
51. a. and thereafter, unless the employee selects a different investment option, the
6employee's contributions be deposited in a fund described in subd. 1. b.
AB68-SSA1,1163,117 (c) 1. Except as provided in subd. 3., during an eligible employee's first year of
8enrollment in the program, the participating employer's payroll deduction each pay
9period shall be at a rate of 5 percent of the employee's gross wages, and this deducted
10amount shall be remitted to the investment administrator as the employee's account
11contribution.
AB68-SSA1,1163,1412 2. Except as provided in subd. 3., a participating employer shall increase the
13payroll deduction rate under subd. 1. by 1 percent per year until a maximum payroll
14deduction rate of 10 percent is reached.
AB68-SSA1,1163,1715 3. An enrolled eligible employee may elect a different payroll deduction rate
16than that provided for in subds. 1. and 2., except the rate may not be less than 1
17percent nor more than 10 percent.
AB68-SSA1,1163,21 18(6) Record-keeping requirements. (a) Subject to par. (b), the board shall
19establish the record-keeping requirements for the investment administrator,
20including the nature and extent of the record-keeping services and performance
21metrics for measuring compliance with these requirements.
AB68-SSA1,1163,2322 (b) The program shall require the maintenance of separate records and
23accounting for each account.
AB68-SSA1,1163,25 24(7) Abandoned accounts. (a) An account is considered abandoned if any of the
25following applies:
AB68-SSA1,1164,2
11. There has been no account activity for at least 6 months and the account
2balance is less than $250.
AB68-SSA1,1164,33 2. There has been no account activity for at least 2 years.
AB68-SSA1,1164,64 (b) If an account is considered abandoned under par. (a), the investment
5administrator shall close the account and disburse the account balance to the
6individual who established the account.
AB68-SSA1,1164,8 7(8) Powers of board; departmental assistance; rules. (a) The board may do
8any of the following:
AB68-SSA1,1164,119 1. In establishing the program under this section, create or impose any
10requirement or condition not inconsistent with this section that the board considers
11necessary for the effective functioning and widespread utilization of the program.
AB68-SSA1,1164,1512 2. Enter into contracts or other arrangements for any services necessary for
13establishing and overseeing the program under this section or for otherwise carrying
14out the purposes of this section, including the services of financial institutions,
15attorneys, investment advisers, accountants, consultants, and other professionals.
AB68-SSA1,1164,1716 3. Exercise any other powers necessary to establish and oversee the program
17under this section or otherwise carry out the purposes of this section.
AB68-SSA1,1164,1818 4. Promulgate rules to carry out the purposes of this section.
AB68-SSA1,1164,2219 (b) The department shall provide the board with any assistance necessary to
20carry out the purposes of this section, including staff, equipment, and office space.
21The board may delegate to the department responsibility for carrying out any
22day-to-day board function related to the program under this section.
AB68-SSA1,2495 23Section 2495 . 224.77 (1) (o) of the statutes is amended to read:
AB68-SSA1,1165,624 224.77 (1) (o) In the course of practice as a mortgage banker, mortgage loan
25originator, or mortgage broker, except in relation to housing designed to meet the

1needs of elderly individuals, treat a person unequally solely because of sex, race,
2color, handicap, sexual orientation, as defined in s. 111.32 (13m), religion, national
3origin, age, or ancestry, the person's lawful source of income, or the sex, marital
4status, status as a holder or nonholder of a license under s. 343.03 (3r), or status as
5a victim of domestic abuse, sexual assault, or stalking, as defined in s. 106.50 (1m)
6(u), of the person maintaining a household.
AB68-SSA1,2496 7Section 2496 . 227.01 (13) (Lw) of the statutes is created to read:
AB68-SSA1,1165,88 227.01 (13) (Lw) Adjusts the minimum wage under s. 104.035 (8m).
AB68-SSA1,2497 9Section 2497. 227.01 (13) (n) of the statutes is amended to read:
AB68-SSA1,1165,1310 227.01 (13) (n) Fixes or approves rates, prices or charges, including an annual
11average weekly wage calculation under s. 108.05 (1) (am) or a maximum weekly
12benefit amount under s. 108.05 (1) (cm),
unless a statute specifically requires them
13to be fixed or approved by rule.
AB68-SSA1,2498 14Section 2498 . 227.01 (13) (t) of the statutes is created to read:
AB68-SSA1,1165,1815 227.01 (13) (t) Ascertains and determines prevailing wage rates under ss.
1666.0903, 103.49, 103.50, and 229.8275, except that any action or inaction which
17ascertains and determines prevailing wage rates under ss. 66.0903, 103.49, 103.50,
18and 229.8275 is subject to judicial review under s. 227.40.
AB68-SSA1,2499 19Section 2499. 227.03 (4) of the statutes is amended to read:
AB68-SSA1,1165,2520 227.03 (4) The provisions of this chapter relating to contested cases do not
21apply to proceedings involving the revocation of community supervision or aftercare
22supervision under s. 938.357 (5), the revocation of parole, extended supervision, or
23probation, the grant of probation, prison discipline, mandatory release under s.
24302.11, or any other proceeding involving the care and treatment of a resident or an
25inmate of a correctional institution.
AB68-SSA1,2500
1Section 2500. 227.10 (2g) of the statutes is repealed.
AB68-SSA1,2501 2Section 2501 . 227.11 (title) of the statutes is amended to read:
AB68-SSA1,1166,4 3227.11 (title) Agency Extent to which chapter confers rule-making
4authority.
AB68-SSA1,2502 5Section 2502 . 227.11 (3) of the statutes is repealed.
AB68-SSA1,2503 6Section 2503. 227.111 (3) of the statutes is created to read:
AB68-SSA1,1166,77 227.111 (3) Subsection (2) does not apply to the state fair park board.
AB68-SSA1,2504 8Section 2504 . 227.13 of the statutes is amended to read:
AB68-SSA1,1166,16 9227.13 Advisory committees and informal consultations. An agency may
10use informal conferences and consultations to obtain the viewpoint and advice of
11interested persons with respect to contemplated rule making. An agency may also
12appoint a committee of experts, interested persons or representatives of the public
13to advise it with respect to any contemplated rule making. Such a The committee
14shall have advisory powers only. Whenever an agency appoints a committee under
15this section, the agency shall submit a list of the members of the committee to the
16joint committee for review of administrative rules.
AB68-SSA1,2505 17Section 2505 . 227.26 (2) (im) of the statutes is repealed.
AB68-SSA1,2506 18Section 2506 . 227.57 (11) of the statutes is amended to read:
AB68-SSA1,1166,2219 227.57 (11) Upon review of an agency action or decision affecting a property
20owner's use of the property owner's property
, the court shall accord no deference to
21the agency's interpretation of law if the agency action or decision restricts the
22property owner's free use of the property owner's property
.
AB68-SSA1,2507 23Section 2507 . 229.425 of the statutes is created to read:
AB68-SSA1,1167,2 24229.425 Creation of a district, city of Superior. (1) Provisions that do
25not apply to certain districts.
With regard to any district that is created by the city

1of Superior on or after the effective date of this subsection .... [LRB inserts date], the
2following provisions do not apply:
AB68-SSA1,1167,33 (a) Section 229.40.
AB68-SSA1,1167,44 (b) Section 229.50 (1) (a) and (e).
AB68-SSA1,1167,55 (c) Subchapter IX of ch. 77.
AB68-SSA1,1167,15 6(2) Modification of provisions relating to new districts. (a) Definition. With
7regard to any district that is created by the city of Superior on or after the effective
8date of this paragraph .... [LRB inserts date], notwithstanding s. 229.41 (6),
9“exposition center" means one or more related structures, including fixtures and
10equipment, owned, operated, or leased by a district and used primarily for
11conventions, expositions, trade shows, musical or dramatic events, other events
12involving educational, cultural, or commercial activities, or sporting tournaments
13and intended to be used by transient tourists and to generate tourism activity
14including paid overnight stays and purchases at establishments where the taxes
15under s. 77.98 are imposed.
AB68-SSA1,1167,2116 (b) Bonding limitations. 1. The maximum amount of bond proceeds that a
17district may receive from bonds issued to fund the development and construction of
18an exposition center is $20,300,000. The district may receive additional proceeds
19from the bonds to pay issuance or administrative costs related to the bonds, to make
20deposits in reserve funds related to the bonds, to pay accrued or funded interest on
21the bonds, and to pay the costs of credit enhancement for the bonds.
AB68-SSA1,1167,2422 2. Notwithstanding the provisions of s. 229.50 (1) (c), the amount of all bonds,
23other than refunding bonds, that may be secured by all special debt service reserve
24funds of the district shall not exceed $20,000,000.
AB68-SSA1,1168,4
1(c) Dissolution of a district. Notwithstanding the provisions of s. 229.477,
2subject to providing for the payment of its bonds, including interest on the bonds, and
3the performance of its other contractual obligations, a district shall be dissolved by
4the joint action of the district's board of directors and city of Superior.
AB68-SSA1,1168,9 5(3) Referendum requirements. Before an enabling resolution adopted by the
6city of Superior under s. 229.42 (1) (a) may take effect, it must be approved by a
7majority of the electors in the city voting on the resolution at a referendum, to be held
8at the first spring or general election following by at least 70 days the date of adoption
9of the resolution.
AB68-SSA1,2508 10Section 2508. 229.46 (1) (ae) of the statutes is created to read:
AB68-SSA1,1168,1211 229.46 (1) (ae) “Disability-owned business” means a business certified by the
12department of administration under s. 16.289 (3).
AB68-SSA1,2509 13Section 2509. 229.46 (1) (aj) of the statutes is created to read:
AB68-SSA1,1168,1514 229.46 (1) (aj) “Lesbian, gay, bisexual, or transgender-owned business” means
15a business certified by the department of administration under s. 16.288 (3).
AB68-SSA1,2510 16Section 2510. 229.46 (2) (intro.) of the statutes is amended to read:
AB68-SSA1,1168,2517 229.46 (2) (intro.) A person who is awarded a contract by a district shall agree,
18as a condition to receiving the contract, that at least 25 percent of the employees
19hired because of the contract will be minority group members, at least 5 percent of
20the employees hired because of the contract will be women, and at least 1 percent of
21the employees hired because of the contract will be employees of a disabled
22veteran-owned business, at least 1 percent of the employees hired because of the
23contract will be employees of a lesbian, gay, bisexual, or transgender-owned
24business, and at least 1 percent of the employees hired because of the contract will
25be employees of a disability-owned business,
if any of the following applies:
AB68-SSA1,2511
1Section 2511. 229.46 (3) (intro.) of the statutes is amended to read:
AB68-SSA1,1169,112 229.46 (3) (intro.) At least 25 percent of the aggregate dollar value of contracts
3awarded by the district in the following areas shall be awarded to minority
4businesses, at least 5 percent of the aggregate dollar value of contracts awarded by
5the district in the following areas shall be awarded to women's businesses, and at
6least 1 percent of the aggregate dollar value of contracts awarded by the district in
7the following areas shall be awarded to disabled veteran-owned businesses, at least
81 percent of the aggregate dollar value of contracts awarded by the district in the
9following areas shall be awarded to lesbian, gay, bisexual, or transgender-owned
10businesses, and at least 1 percent of the aggregate dollar value of contracts awarded
11by the district in the following areas shall be awarded to a disability-owned business
:
AB68-SSA1,2512 12Section 2512. 229.46 (8) of the statutes is created to read:
AB68-SSA1,1169,1613 229.46 (8) With regard to a district created by the city of Superior, the district
14shall contract with a local tourism entity, as defined in s. 66.0615 (1) (f), to promote,
15advertise, and publicize its exposition center, exposition center facilities, and related
16activities.
AB68-SSA1,2513 17Section 2513 . 229.682 (2) of the statutes is created to read:
AB68-SSA1,1169,1918 229.682 (2) Prevailing wage. The construction of a baseball park facility that
19is financed in whole or in part by a district is subject to s. 66.0903.
AB68-SSA1,2514 20Section 2514. 229.70 (title) of the statutes is amended to read:
AB68-SSA1,1169,23 21229.70 (title) Minority contracting goals; disabled veteran-owned
22business contracting goals
; lesbian, gay, bisexual, or transgender-owned
23business contracting goals; disability-owned business contracting goals
.
AB68-SSA1,2515 24Section 2515. 229.70 (1) (ae) of the statutes is created to read:
AB68-SSA1,1170,2
1229.70 (1) (ae) “Disability-owned business” means a business certified by the
2department of administration under s. 16.289 (3).
AB68-SSA1,2516 3Section 2516. 229.70 (1) (aj) of the statutes is created to read:
Loading...
Loading...