SB1106,,122 100.45 (1) (dm) “State agency” means any office, department, agency, institution of higher education, association, society, or other body in state government created or authorized to be created by the constitution or any law which is entitled to expend moneys appropriated by law, including the legislature and the courts, the Wisconsin Housing and Economic Development Authority, the Bradley Center Sports and Entertainment Corporation, the University of Wisconsin Hospitals and Clinics Authority, the Wisconsin Health and Educational Facilities Authority, the Wisconsin Aerospace Authority, the Wisconsin Economic Development Corporation, the Public Bank of Wisconsin, and the Fox River Navigational System Authority.

SB1106,49 Section 49. 230.03 (3) of the statutes is amended to read:

SB1106,,124 230.03 (3) “Agency” means any board, commission, committee, council, or department in state government or a unit thereof created by the constitution or statutes if such board, commission, committee, council, department, unit, or the head thereof, is authorized to appoint subordinate staff by the constitution or statute, except the Board of Regents of the University of Wisconsin System, a legislative or judicial board, commission, committee, council, department, or unit thereof or an authority created under subch. II of ch. 114 or under ch. 231, 232, 233, 234, 237, 238, 239, or 279. “Agency” does not mean any local unit of government or body within one or more local units of government that is created by law or by action of one or more local units of government.

SB1106,50 Section 50. Chapter 239 of the statutes is created to read:

SB1106,,126 CHAPTER 239

SB1106,,127 PUBLIC BANK OF WISCONSIN

SB1106,,128 239.01 Definitions. In this chapter:

SB1106,,129 (1) “Affordable financing” means any of the following:

SB1106,,130 (a) As provided to an eligible recipient, any of the following:

SB1106,,131 1. The provision of credit and loans, including long-term loans and unsecured loans, at affordable rates and for which the Public Bank of Wisconsin employs underwriting methods that are flexible in their criteria, terms, and uses.

SB1106,,132 2. The provision of letters of credit, guarantees, subordinate loans, and other forms of risk management to facilitate additional financing from sources other than the Public Bank of Wisconsin.

SB1106,,133 3. The provision of any type of financing authorized for a state bank organized under ch. 221.

SB1106,,134 4. The provision of technical assistance.

SB1106,,135 (b) As provided to an eligible recipient under sub. (7) (c), (e), (h), or (k), any of the following:

SB1106,,136 1. The provision of equity financing, including preferred stock, common stock, equity-equivalent capital, and other hybrid instruments.

SB1106,,137 2. The provision of grants, donations, and contributions, including grants given over a period of years to provide predictability for an eligible recipient.

SB1106,,138 (2) “Affordable housing” means any of the following:

SB1106,,139 (a) Affordable housing, as defined in s. 66.1105 (2) (ab).

SB1106,,140 (b) Low-income housing, as defined in s. 70.11 (4a) (b).

SB1106,,141 (3) “Board,” except in the phrase “board of advisors,” means the governing board of the Public Bank of Wisconsin.

SB1106,,142 (4) “Community development authority” means a housing and community development authority organized under s. 66.1335.

SB1106,,143 (5) “Community development corporation” has the meaning given in s. 234.94 (2).

SB1106,,144 (6) “Division” means the division of banking in the department of financial institutions.

SB1106,,145 (7) “Eligible recipient,” with respect to affordable financing provided by the Public Bank of Wisconsin, means any of the following:

SB1106,,146 (a) Any local governmental unit or enterprise managed in whole or in part by a local governmental unit.

SB1106,,147 (b) A nonprofit organization that has a primary goal of benefitting the state or its residents through community development.

SB1106,,148 (c) A land trust.

SB1106,,149 (d) A cooperative organized under ch. 185 or 193.

SB1106,,150 (e) An entity created by financial institutions that pools funds to lend for affordable housing development.