AB68,243,14 (b) “Duly authorized representative" has the meaning given in s. 45.04 (1) (a).

AB68,243,16 (c) “Financial adviser" means a business that serves as an adviser with regard to the sale of evidences of indebtedness or other obligations.

AB68,243,19 (d) “Investment firm" means a business that serves as a manager, comanager, or in any other underwriting capacity with regard to the sale of evidences of indebtedness or other obligations or as a broker-dealer, as defined in s. 551.102 (4).

AB68,243,21 (e) “Useful business function" means the provision of materials, supplies, equipment, or services to customers, including the state.

AB68,243,24 (2) Lesbian, gay, bisexual, or transgender-owned business database. The department shall develop, maintain, and keep current a computer database of all businesses, financial advisers, and investment firms certified under this section.

AB68,244,3 (3) Lesbian, gay, bisexual, or transgender-owned business, financial adviser, and investment firm certification. (a) Any business, financial adviser, or investment firm may apply to the department for certification under this section.

AB68,244,7 (b) 1. The department shall certify a business, financial adviser, or investment firm under this section if, after conducting an investigation, the department determines that the business, financial adviser, or investment firm fulfills all of the following requirements:

AB68,244,12 a. One or more lesbian, gay, bisexual, or transgender individuals own at least 51 percent of the business, financial adviser, or investment firm or, in the case of any publicly owned business, financial adviser, or investment firm, one or more lesbian, gay, bisexual, or transgender individuals own at least 51 percent of the stock of the business, financial adviser, or investment firm.

AB68,244,16 b. One or more lesbian, gay, bisexual, or transgender individuals or one or more duly authorized representatives of one or more lesbian, gay, bisexual, or transgender individuals control the management and daily business operations of the business, financial adviser, or investment firm.

AB68,244,18 c. The business, financial adviser, or investment firm has its principal place of business in this state.

AB68,244,22 d. The business, financial adviser, or investment firm is currently performing a useful business function. Acting as a conduit for the transfer of funds to a business that is not certified under this section does not constitute a useful business function, unless doing so is a normal industry practice.

AB68,245,7 2. The department may, without conducting an investigation, certify a business, financial adviser, or investment firm having its principal place of business in this state and currently performing a useful business function if the business, financial adviser, or investment firm is certified, or otherwise classified, as a lesbian, gay, bisexual, or transgender-owned business, financial adviser, or investment firm by an agency or municipality of this or another state, a federally recognized American Indian tribe, or the federal government, or by a private business with expertise in certifying lesbian, gay, bisexual, or transgender-owned businesses if the business uses substantially the same procedures the department uses in making a determination under subd. 1.

AB68,245,15 (c) If a business, financial adviser, or investment firm applying for certification under this section fails to provide the department with sufficient information to enable the department to conduct an investigation under par. (b) 1. or does not qualify for certification under par. (b), the department shall deny the application. A business, financial adviser, or investment firm whose application is denied may, within 30 days after the date of the denial, appeal in writing to the secretary. The secretary shall enter his or her final decision within 30 days after receiving the appeal.

AB68,245,20 (d) 1. The department may, at the request of any state agency or on its own initiative, evaluate any business, financial adviser, or investment firm certified under this section to verify that it continues to qualify for certification. The business, financial adviser, or investment firm shall provide the department with any records or information necessary to complete the examination.

AB68,245,25 2. If a business, financial adviser, or investment firm fails to comply with a reasonable request for records or information, the department shall notify the business, financial adviser, or investment firm and the department of transportation, in writing, that it intends to decertify the business, financial adviser, or investment firm.

AB68,246,5 3. If, after an evaluation under this paragraph, the department determines that a business, financial adviser, or investment firm no longer qualifies for certification under this section, the department shall notify the business, financial adviser, or investment firm and the department of transportation, in writing, that it intends to decertify the business, financial adviser, or investment firm.

AB68,246,8 (e) 1. A business, financial adviser, or investment firm receiving a notice under par. (d) 2. or 3. may appeal in writing to the secretary within 30 days after the date of the notice.

AB68,246,11 2. If the business, financial adviser, or investment firm does not submit an appeal under subd. 1., the department shall immediately decertify the business, financial adviser, or investment firm.

AB68,246,16 3. If the business, financial adviser, or investment firm submits an appeal under subd. 1., the secretary shall enter his or her final decision, in writing, within 30 days after receiving the appeal. If the secretary confirms the decision of the department, the department shall immediately decertify the business, financial adviser, or investment firm.

AB68,246,25 4. A business, financial adviser, or investment firm decertified under subd. 3. may, within 30 days after the secretary's decision, request a contested case hearing under s. 227.42 from the department. If the final administrative or judicial proceeding results in a determination that the business, financial adviser, or investment firm qualifies for certification under this section, the department shall immediately certify the business, financial adviser, or investment firm. The department shall provide the business, financial adviser, or investment firm and the department of transportation with a copy of the final written decision regarding certification under this paragraph.

AB68,247,2 (4) Department rule making. The department shall promulgate by administrative rule procedures to implement this section.

AB68,110 Section 110. 16.289 of the statutes is created to read:

AB68,247,6 16.289 Disability-owned businesses. (1) Definitions. (a) “Business" means a sole proprietorship, partnership, limited liability company, joint venture, or corporation.

AB68,247,7 (b) “Duly authorized representative" has the meaning given in s. 45.04 (1) (a).

AB68,247,9 (c) “Financial adviser" means a business that serves as an adviser with regard to the sale of evidences of indebtedness or other obligations.

AB68,247,12 (d) “Investment firm" means a business that serves as a manager, comanager, or in any other underwriting capacity with regard to the sale of evidences of indebtedness or other obligations or as a broker-dealer, as defined in s. 551.102 (4).

AB68,247,14 (e) “Useful business function" means the provision of materials, supplies, equipment, or services to customers, including the state.

AB68,247,17 (2) Disability-owned business database. The department shall develop, maintain, and keep current a computer database of all businesses, financial advisers, and investment firms certified under this section.

AB68,247,20 (3) Disability-owned business, financial adviser, and investment firm certification. (a) Any business, financial adviser, or investment firm may apply to the department for certification under this section.