SB1100,15,20 (c) The administration or investment performance of the plan, including any interest rate or other rate of return on any contribution or account balance.

SB1100,15,21 (d) The plan design.

SB1100,15,24 (e) An eligible employee's familiarity with and compliance with the applicable provisions of the Internal Revenue Code and U.S. department of treasury regulations related to individual retirement accounts.

SB1100,16,4 (f) Any loss, failure to realize any gain, or other adverse consequences, including any adverse tax consequences or loss of favorable tax treatment, public assistance, or other benefits, incurred by any eligible employee as a result of participating in the plan.

SB1100,16,15 (12) Liability of board and state. No cause of action of any nature may arise against and no civil liability may be imposed upon a member of the board for any act or omission in the performance of his or her powers and duties related to the plan, unless the individual asserting liability proves that the act or omission constitutes willful misconduct. No cause of action of any nature may arise against and no civil liability may be imposed upon the state or an employee of the state for any act or omission related to the powers and duties of the state or employee in the performance of any powers or duties related to the plan unless the individual asserting liability proves that the act or omission constitutes willful misconduct. No member of the board, the state, board or commission of the state, appointee, or employee of the state is liable for any of the following:

SB1100,16,18 (a) An eligible employee's familiarity with and compliance with the applicable provisions of the Internal Revenue Code and U.S. department of treasury regulations related to individual retirement accounts.

SB1100,16,20 (b) The interest rate or other rate of return, on an account balance or investment performance.

SB1100,16,24 (c) Any loss, failure to realize any gain, or other adverse consequences, including any adverse tax consequences or loss of favorable tax treatment, public assistance, or other benefits, incurred by any eligible employee as a result of participating in the plan.

SB1100,16,25 (d) The debts, contracts, and obligations of the plan or the board.

SB1100,17,4 (13) Reports. (a) By October 15 of each year, the board shall submit a report of its activities to the governor and the appropriate standing committees of the legislature under s. 13.172 (3). The report shall include information on the performance of the plan and any recommended changes to the plan.

SB1100,17,7 (b) By January 1, 2026, the board shall submit a report of its activities and recommendations regarding making the plan permanent to the governor and the appropriate standing committees of the legislature under s. 13.172 (3).

SB1100,17,11 (14) Standard of responsibility. Members of the board and any 3rd-party administrators of the plan shall discharge their duties as fiduciaries with respect to the trust fund under s. 25.52 for the interest of eligible employees who participate in the plan as follows:

SB1100,17,14 (a) To administer assets of the trust fund solely for the purpose of providing benefits to eligible employees who are enrolled in the plan at a reasonable cost and not for any other purpose.

SB1100,17,18 (b) To manage the money and property of the trust fund with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a similar capacity, with the same resources, and familiar with like matters exercises in the conduct of an enterprise of a like character with like aims.

SB1100,17,21 (15) Assistance. The office of the state treasurer shall provide the board with any assistance necessary to carry out this section, including staff, equipment, and office space.

SB1100,3 Section 3 . 16.705 (9) of the statutes is amended to read:

SB1100,18,5 16.705 (9) The department shall maintain a list of persons that are or have been a party to a contract with the state under this subchapter or s. 14.69 who have violated a provision of this subchapter or a contract under this subchapter or s. 14.69. The parties on the list are ineligible for state contracts and no state contract may be awarded to a party on the ineligible list. The department may remove any party from the ineligible list if the department determines that the party's practices comply with this subchapter or s. 14.69 and provide adequate safeguards against future violations of this subchapter or s. 14.69 or contracts under this subchapter or s. 14.69.

SB1100,4 Section 4 . 20.005 (3) (schedule) of the statutes: at the appropriate place, insert the following amounts for the purposes indicated: - See PDF for table - See PDF for table - See PDF for table - See PDF for table

SB1100,5 Section 5 . 20.517 of the statutes is created to read:

SB1100,18,10 20.517 WisEARNS. There is appropriated to the WisEARNS board for the following programs:

SB1100,18,13 (1) WisEARNS plan. (a) Establishment and administration of plan. Biennially, the amounts in the schedule to establish and administer the plan under s. 14.69.

SB1100,18,16 (q) Administrative expenses; WisEARNS plan administration trust fund. From the WisEARNS plan administration trust fund, all moneys deposited in that fund under s. 14.69 (7) (b) for the operating expenses of the board.

SB1100,19,2 (r) Gifts and grants; WisEARNS plan administration trust fund. From the WisEARNS plan administration trust fund, all moneys received as contributions, gifts, grants, and bequests for that trust fund under s. 14.69 (6) (b) to carry out the purposes for which made and received.

SB1100,6 Section 6. 20.923 (4) (c) 7. of the statutes is created to read:

SB1100,19,4 20.923 (4) (c) 7. State treasurer; WisEARNS board: executive director.

SB1100,7 Section 7 . 25.52 of the statutes is created to read:

SB1100,19,9 25.52 WisEARNS plan administration trust fund. There is established a separate nonlapsible trust fund designated as the WisEARNS plan administration trust fund, to consist of all moneys deposited in that fund under s. 14.69 (6) (b) and (7) (b).

SB1100,8 Section 8 . 71.05 (6) (a) 15. of the statutes is amended to read:

SB1100,19,16 71.05 (6) (a) 15. Except as provided under s. 71.07 (3p) (c) 5., the amount of the credits computed under s. 71.07 (2dm), (2dx), (2dy), (3g), (3h), (3n), (3q), (3s), (3t), (3w), (3wm), (3y), (4k), (4n), (4s), (4w), (5e), (5i), (5j), (5k), (5r), (5rm), (6n), and (10) and not passed through by a partnership, limited liability company, or tax-option corporation that has added that amount to the partnership's, company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g).