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SB1106,10,3
115.185 (3) Board of advisors. (a) There is created a board of advisors, attached
2to the department of financial institutions under s. 15.03. Subject to par. (c) 1., the
3board of advisors shall consist of the following members:
SB1106,10,44 1. The lieutenant governor or the lieutenant governor's designee.
SB1106,10,65 2. One member appointed by the community development experts of the
6Federal Reserve Bank of Chicago.
SB1106,10,107 3. One member nominated by state-chartered financial institutions, including
8credit unions, that receive more than 90 percent of their deposits from residents of
9this state or nominated by associations representing predominantly these financial
10institutions, appointed by the governor.
SB1106,10,1211 4. One member nominated by a minority-owned financial institution,
12appointed by the governor.
SB1106,10,1713 5. Two members, each nominated by separate community development
14authorities, redevelopment authorities, housing authorities, or community
15development corporations that focus primarily on supporting economic development
16in this state, including rural and economic cooperative models and worker-owned
17enterprises, appointed by the governor.
SB1106,10,1918 6. Two members, each nominated by separate nonprofit organizations that
19support underserved neighborhoods, appointed by the governor.
SB1106,10,2320 7. Two members, each nominated by separate associations representing the
21interests of small business entities, particularly businesses owned by cognizable
22groups currently receiving less credit than proportional to their size or serving in
23areas operating in underserved neighborhoods, appointed by the governor.
SB1106,10,2524 8. One member nominated by nonprofit organizations that support sustainable
25agriculture, appointed by the governor.
SB1106,11,2
19. One member nominated by nonprofit organizations that support food
2security, appointed by the governor.
SB1106,11,43 10. One member nominated by nonprofit organizations that support climate
4change amelioration and environmental finance, appointed by the governor.
SB1106,11,65 11. One member nominated by nonprofit organizations that support
6environmental justice, appointed by the governor.
SB1106,11,97 12. Two members, each nominated by separate municipalities or state-based
8associations or chapters of municipal planners or professionals, appointed by the
9governor.
SB1106,11,1510 13. Two members, each nominated by separate organizations in which
11employees or workers participate and which exist for the purpose, in whole or in part,
12of representing the interests of workers concerning grievances, labor disputes,
13wages, rates of pay, hours of employment, or conditions of work, at least one
14organization of which represents the interests of low-income workers, appointed by
15the governor.
SB1106,11,1616 (b) The members under par. (a) 2. to 13. shall be appointed for a term of 4 years.
SB1106,11,1817 (c) 1. A nomination under par. (a) may not be made by an entity or organization
18unless the entity or organization has been in existence for at least 4 years.
SB1106,11,2019 2. All nominations under par. (a) shall be available to the public and posted on
20the Public Bank of Wisconsin's website.
SB1106,11,2221 (d) An individual may not serve as a member of the board of advisors for more
22than 8 years.
SB1106,13 23Section 13 . 16.002 (2) of the statutes is amended to read:
SB1106,12,324 16.002 (2) “Departments" means constitutional offices, departments, and
25independent agencies and includes all societies, associations, and other agencies of

1state government for which appropriations are made by law, but not including
2authorities created in subch. II of ch. 114 or in ch. 231, 232, 233, 234, 237, 238, 239,
3or 279.
SB1106,14 4Section 14 . 16.004 (4) of the statutes is amended to read:
SB1106,12,105 16.004 (4) Freedom of access. The secretary and such employees of the
6department as the secretary designates may enter into the offices of state agencies
7and authorities created under subch. II of ch. 114 and under chs. 231, 233, 234, 237,
8238, 239, and 279, and may examine their books and accounts and any other matter
9that in the secretary's judgment should be examined and may interrogate the
10agency's employees publicly or privately relative thereto.
SB1106,15 11Section 15 . 16.004 (5) of the statutes is amended to read:
SB1106,12,1512 16.004 (5) Agencies and employees to cooperate. All state agencies and
13authorities created under subch. II of ch. 114 and under chs. 231, 233, 234, 237, 238,
14239, and 279, and their officers and employees, shall cooperate with the secretary
15and shall comply with every request of the secretary relating to his or her functions.
SB1106,16 16Section 16 . 16.004 (12) (a) of the statutes is amended to read:
SB1106,12,2417 16.004 (12) (a) In this subsection, “state agency" means an association,
18authority, board, department, commission, independent agency, institution, office,
19society, or other body in state government created or authorized to be created by the
20constitution or any law, including the legislature, the office of the governor, and the
21courts, but excluding the University of Wisconsin Hospitals and Clinics Authority,
22the Wisconsin Aerospace Authority, the Lower Fox River Remediation Authority, the
23Wisconsin Economic Development Corporation, the Public Bank of Wisconsin, and
24the Fox River Navigational System Authority.
SB1106,17 25Section 17 . 16.045 (1) (a) of the statutes is amended to read:
SB1106,13,6
116.045 (1) (a) “Agency" means an office, department, independent agency,
2institution of higher education, association, society, or other body in state
3government created or authorized to be created by the constitution or any law, that
4is entitled to expend moneys appropriated by law, including the legislature and the
5courts, but not including an authority created in subch. II of ch. 114 or in ch. 231, 232,
6233, 234, 237, 238, 239, or 279.
SB1106,18 7Section 18 . 16.15 (1) (ab) of the statutes is amended to read:
SB1106,13,118 16.15 (1) (ab) “Authority" has the meaning given under s. 16.70 (2), but
9excludes the University of Wisconsin Hospitals and Clinics Authority, the Lower Fox
10River Remediation Authority, the Public Bank of Wisconsin, and the Wisconsin
11Economic Development Corporation.
SB1106,19 12Section 19 . 16.41 (4) of the statutes is amended to read:
SB1106,13,1413 16.41 (4) In this section, “authority" means a body created under subch. II of
14ch. 114 or under ch. 231, 233, 234, 237, 238, 239, or 279.
SB1106,20 15Section 20 . 16.417 (1) (b) of the statutes is amended to read:
SB1106,13,1716 16.417 (1) (b) “Authority" means a body created under subch. II of ch. 114 or
17ch. 231, 232, 233, 234, 237, 238, 239, or 279.
SB1106,21 18Section 21 . 16.52 (7) of the statutes is amended to read:
SB1106,14,319 16.52 (7) Petty cash account. With the approval of the secretary, each agency
20that is authorized to maintain a contingent fund under s. 20.920 may establish a
21petty cash account from its contingent fund. The procedure for operation and
22maintenance of petty cash accounts and the character of expenditures therefrom
23shall be prescribed by the secretary. In this subsection, “agency" means an office,
24department, independent agency, institution of higher education, association,
25society, or other body in state government created or authorized to be created by the

1constitution or any law, that is entitled to expend moneys appropriated by law,
2including the legislature and the courts, but not including an authority created in
3subch. II of ch. 114 or in ch. 231, 233, 234, 237, 238, 239, or 279.
SB1106,22 4Section 22 . 16.528 (1) (a) of the statutes is amended to read:
SB1106,14,105 16.528 (1) (a) “Agency" means an office, department, independent agency,
6institution of higher education, association, society, or other body in state
7government created or authorized to be created by the constitution or any law, that
8is entitled to expend moneys appropriated by law, including the legislature and the
9courts, but not including an authority created in subch. II of ch. 114 or in ch. 231, 233,
10234, 237, 238, 239, or 279.
SB1106,23 11Section 23 . 16.53 (2) of the statutes is amended to read:
SB1106,14,2012 16.53 (2) Improper invoices. If an agency receives an improperly completed
13invoice, the agency shall notify the sender of the invoice within 10 working days after
14it receives the invoice of the reason it is improperly completed. In this subsection,
15“agency" means an office, department, independent agency, institution of higher
16education, association, society, or other body in state government created or
17authorized to be created by the constitution or any law, that is entitled to expend
18moneys appropriated by law, including the legislature and the courts, but not
19including an authority created in subch. II of ch. 114 or in ch. 231, 233, 234, 237, 238,
20239, or 279.
SB1106,24 21Section 24 . 16.54 (9) (a) 1. of the statutes is amended to read:
SB1106,15,222 16.54 (9) (a) 1. “Agency" means an office, department, independent 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, but not including an authority created in subch. II of ch. 114 or in ch. 231, 233,
2234, 237, 238, 239, or 279.
SB1106,25 3Section 25 . 16.765 (1) of the statutes is amended to read:
SB1106,15,144 16.765 (1) Contracting agencies, the University of Wisconsin Hospitals and
5Clinics Authority, the Fox River Navigational System Authority, the Wisconsin
6Aerospace Authority, the Lower Fox River Remediation Authority, the Public Bank
7of Wisconsin,
the Wisconsin Economic Development Corporation, and the Bradley
8Center Sports and Entertainment Corporation shall include in all contracts executed
9by them a provision obligating the contractor not to discriminate against any
10employee or applicant for employment because of age, race, religion, color, handicap,
11sex, physical condition, developmental disability as defined in s. 51.01 (5), sexual
12orientation as defined in s. 111.32 (13m), or national origin and, except with respect
13to sexual orientation, obligating the contractor to take affirmative action to ensure
14equal employment opportunities.
SB1106,26 15Section 26 . 16.765 (2) of the statutes is amended to read:
SB1106,16,716 16.765 (2) Contracting agencies, the University of Wisconsin Hospitals and
17Clinics Authority, the Fox River Navigational System Authority, the Wisconsin
18Aerospace Authority, the Lower Fox River Remediation Authority, the Public Bank
19of Wisconsin,
the Wisconsin Economic Development Corporation, and the Bradley
20Center Sports and Entertainment Corporation shall include the following provision
21in every contract executed by them: “In connection with the performance of work
22under this contract, the contractor agrees not to discriminate against any employee
23or applicant for employment because of age, race, religion, color, handicap, sex,
24physical condition, developmental disability as defined in s. 51.01 (5), sexual
25orientation or national origin. This provision shall include, but not be limited to, the

1following: employment, upgrading, demotion or transfer; recruitment or recruitment
2advertising; layoff or termination; rates of pay or other forms of compensation; and
3selection for training, including apprenticeship. Except with respect to sexual
4orientation, the contractor further agrees to take affirmative action to ensure equal
5employment opportunities. The contractor agrees to post in conspicuous places,
6available for employees and applicants for employment, notices to be provided by the
7contracting officer setting forth the provisions of the nondiscrimination clause".
SB1106,27 8Section 27 . 16.765 (5) of the statutes is amended to read:
SB1106,16,259 16.765 (5) The head of each contracting agency and the boards of directors of
10the University of Wisconsin Hospitals and Clinics Authority, the Fox River
11Navigational System Authority, the Wisconsin Aerospace Authority, the Lower Fox
12River Remediation Authority, the Public Bank of Wisconsin, the Wisconsin Economic
13Development Corporation, and the Bradley Center Sports and Entertainment
14Corporation shall be primarily responsible for obtaining compliance by any
15contractor with the nondiscrimination and affirmative action provisions prescribed
16by this section, according to procedures recommended by the department. The
17department shall make recommendations to the contracting agencies and the boards
18of directors of the University of Wisconsin Hospitals and Clinics Authority, the Fox
19River Navigational System Authority, the Wisconsin Aerospace Authority, the Lower
20Fox River Remediation Authority, the Public Bank of Wisconsin, the Wisconsin
21Economic Development Corporation, and the Bradley Center Sports and
22Entertainment Corporation for improving and making more effective the
23nondiscrimination and affirmative action provisions of contracts. The department
24shall promulgate such rules as may be necessary for the performance of its functions
25under this section.
SB1106,28
1Section 28. 16.765 (6) of the statutes is amended to read:
SB1106,17,102 16.765 (6) The department may receive complaints of alleged violations of the
3nondiscrimination provisions of such contracts. The department shall investigate
4and determine whether a violation of this section has occurred. The department may
5delegate this authority to the contracting agency, the University of Wisconsin
6Hospitals and Clinics Authority, the Fox River Navigational System Authority, the
7Wisconsin Aerospace Authority, the Lower Fox River Remediation Authority, the
8Public Bank of Wisconsin,
the Wisconsin Economic Development Corporation, or the
9Bradley Center Sports and Entertainment Corporation for processing in accordance
10with the department's procedures.
SB1106,29 11Section 29 . 16.765 (7) (intro.) of the statutes is amended to read:
SB1106,17,2212 16.765 (7) (intro.) When a violation of this section has been determined by the
13department, the contracting agency, the University of Wisconsin Hospitals and
14Clinics Authority, the Fox River Navigational System Authority, the Wisconsin
15Aerospace Authority, the Lower Fox River Remediation Authority, the Public Bank
16of Wisconsin,
the Wisconsin Economic Development Corporation, or the Bradley
17Center Sports and Entertainment Corporation, the contracting agency, the
18University of Wisconsin Hospitals and Clinics Authority, the Fox River Navigational
19System Authority, the Wisconsin Aerospace Authority, the Lower Fox River
20Remediation Authority, the Public Bank of Wisconsin, the Wisconsin Economic
21Development Corporation, or the Bradley Center Sports and Entertainment
22Corporation shall:
SB1106,30 23Section 30 . 16.765 (7) (d) of the statutes is amended to read:
SB1106,18,524 16.765 (7) (d) Direct the violating party to take immediate steps to prevent
25further violations of this section and to report its corrective action to the contracting

1agency, the University of Wisconsin Hospitals and Clinics Authority, the Fox River
2Navigational System Authority, the Wisconsin Aerospace Authority, the Lower Fox
3River Remediation Authority, the Public Bank of Wisconsin, the Wisconsin Economic
4Development Corporation, or the Bradley Center Sports and Entertainment
5Corporation.
SB1106,31 6Section 31 . 16.765 (8) of the statutes is amended to read:
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.
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