SB1106,,237 (f) The Public Bank of Wisconsin shall maintain complete records of all banking transactions.

SB1106,,238 (g) The board shall establish technical advisory committees and consult with public and private sector experts in substantive areas related to the Bank’s mission, objectives, and duties.

SB1106,,239 (2) (a) The board shall have all the powers necessary or convenient to carry out the purposes and provisions of this chapter.

SB1106,,240 (b) 1. The board shall operate the Bank to ensure its soundness and sustainability and, subject to subd. 2., to accomplish the Bank’s purposes under this chapter. The board shall adhere to the operating priorities identified in s. 239.035 (1).

SB1106,,241 2. The board may direct the Bank’s annual earnings to be added to the Bank’s capital or distributed to the state, and the board may direct Bank deposits to be invested in the state investment fund under s. 25.14.

SB1106,,242 (c) The board shall regularly review the Bank’s financial statements and other records to ensure that the Bank is in compliance with all applicable laws and regulations and with all reporting requirements under s. 239.08 (1).

SB1106,,243 (d) The board shall keep the board of advisors fully informed of the Bank’s operations and loan portfolio and shall convey the recommendations of the board of advisors to the Bank’s chief executive officer. The board shall hold an annual joint meeting of the board with the board of advisors and the Bank’s chief executive officer. The board chairperson shall preside over this meeting. If requested by a majority of the members of the board of advisors, the board shall schedule and hold additional joint meetings in the same year as the annual joint meeting.

SB1106,,244 (e) In conducting its operations, the Public Bank of Wisconsin shall comply with its business plan under s. 239.05 and further give priority to the following considerations:

SB1106,,245 1. Supporting eligible recipients subject to the historic and current economic inequities experienced by communities in underserved neighborhoods, including enterprises established by residents there, as well as eligible recipients working to remedy those inequities.

SB1106,,246 2. Supporting eligible recipients subject to the historic and current economic inequities experienced by women throughout the state.

SB1106,,247 3. Supporting rural business and farming concerns.

SB1106,,248 4. Supporting businesses with compensation structures that provide a livable wage, establish an equitable ratio between the least-paid and highest-paid members of the business, or otherwise demonstrate a commitment to equitable pay.

SB1106,,249 5. Supporting entities that address the impacts of climate change and the reduction of greenhouse gases.

SB1106,,250 6. Funding the need of municipalities to update and build safe and sustainable infrastructure.

SB1106,,251 7. Supporting the operation of local governmental units, nonprofit organizations, credit unions, local community banks, community development authorities, redevelopment authorities, housing authorities, community development corporations, and state-chartered financial institutions, including by complementing or partnering rather than competing with these entities to strengthen them and to expand affordable financing in the state.

SB1106,,252 8. Seeking participation loan options with the entities under subd. 7., when appropriate, rather than originating or servicing the loan itself.

SB1106,,253 9. Promoting equitable distribution of the Bank’s resources across the state, including ensuring that rural areas are given full and fair consideration and have all necessary support in completing the application process.

SB1106,,254 (3) In addition to all other powers granted the board under this chapter, the board may specifically do any of the following:

SB1106,,255 (a) Adopt, amend, and repeal bylaws, policies, and procedures for the regulation of its affairs and the conduct of its business.

SB1106,,256 (b) Sue and be sued.

SB1106,,257 (c) Establish the Public Bank of Wisconsin’s annual budget and monitor the fiscal management of the Bank.

SB1106,,258 (d) Execute contracts and other instruments required for the operation of the Public Bank of Wisconsin.

SB1106,,259 (e) Make loans and incur debt and other nondeposit liabilities, including money market borrowing, federal reserve borrowing, and capital market borrowing.

SB1106,,260 (f) Procure liability insurance.

SB1106,,261 (g) Employ officers, staff, and agents and determine their qualifications, duties, and compensation.

SB1106,,262 (h) Employ and compensate consultants, advisers, or other professionals to assist the board in carrying out its functions and exercising its authority under this chapter.

SB1106,,263 (4) (a) In this subsection, “labor peace agreement” means an agreement between an eligible recipient and a labor organization, as defined in s. 5.02 (8m), that does all of the following:

SB1106,,264 1. Prohibits labor organizations and its members from engaging in picketing, work stoppages, boycotts, and any other economic interference with persons operating in this state.

SB1106,,265 2. Prohibits the eligible recipient from disrupting the efforts of the labor organization to communicate with and to organize and represent the eligible recipient’s employees.