SB1036,615Section 6. 20.144 (5) (q) of the statutes is created to read:
SB1036,,161620.144 (5) (q) Payment of distributions; crediting accounts. From the baby bond fund, a sum sufficient for the payment of distributions under s. 224.58 (4) and to credit accounts under s. 224.58 (3) (b) 2.
SB1036,717Section 7. 25.14 (1) (a) 20. of the statutes is created to read:
SB1036,,181825.14 (1) (a) 20. The baby bond fund.
SB1036,819Section 8. 25.17 (1) (aL) of the statutes is created to read:
SB1036,,202025.17 (1) (aL) Baby bond fund (s. 25.32);
SB1036,921Section 9. 25.17 (3) (a) of the statutes is amended to read:
SB1036,,222225.17 (3) (a) Invest the core retirement investment trust, baby bond fund, state life fund, local government property insurance fund, veterans trust fund, and injured patients and families compensation fund in loans, securities, and any other investments authorized by s. 620.22, and in bonds or other evidences of indebtedness or preferred stock of companies engaged in the finance business whether as direct lenders or as holding companies owning subsidiaries engaged in the finance business. Investments permitted by sub. (4) are permitted investments under this subsection.
SB1036,1023Section 10. 25.18 (1) (q) of the statutes is created to read:
SB1036,,242425.18 (1) (q) Invest any of the assets of the baby bond fund in any investment that is an authorized investment for assets in the variable retirement investment trust under s. 25.17 (5).
SB1036,1125Section 11. 25.32 of the statutes is created to read:
SB1036,,262625.32 Baby bond fund. (1) There is established a separate nonlapsible trust fund designated as the baby bond fund. The fund shall consist of all of the following:
SB1036,,2727(a) Money deposited into the fund under s. 224.58 (3) (b) 2.
SB1036,,2828(b) All donations, gifts, grants, bequests, or other contributions deposited into the fund under s. 224.58 (6).
SB1036,,2929(c) All earnings and other investment income of the fund.
SB1036,,3030(2) Except as provided in s. 25.187, moneys in the baby bond fund may be expended only for the purpose of making distributions under s. 224.58 (4) and deposits under s. 224.58 (3) (b) 2.
SB1036,1231Section 12. 69.14 (1) (a) of the statutes is amended to read:
SB1036,,323269.14 (1) (a) Filing deadline. A record of birth for every birth that occurs in this state shall be filed within 5 days after the birth with the state registrar, who shall register the birth under this subchapter. The state registrar shall submit a copy of the record of birth to the department of financial institutions, but shall redact from the copy any parent’s social security number.
SB1036,1333Section 13. 69.20 (3) (b) 6. of the statutes is created to read:
SB1036,,343469.20 (3) (b) 6. The information is submitted to the department of financial institutions for the purpose of administering the baby bond program under s. 224.58.
SB1036,1435Section 14. 69.20 (3) (i) of the statutes is created to read:
SB1036,,363669.20 (3) (i) The state registrar shall disclose information on birth records, other than a parent’s social security number, to the department of financial institutions for use in the administration of the baby bond program under s. 224.58.
SB1036,1537Section 15. 69.22 (6) of the statutes is amended to read:
SB1036,,383869.22 (6) The state registrar may charge a reasonable fee for providing searches of vital records and for providing copies of vital records to state agencies for program use, except that no fee may be charged for providing a copy of the record of birth to the department of financial institutions under s. 69.14 (1) (a). The register of deeds may provide free searches and free copies to agencies in his or her county at the direction of the county board.
SB1036,1639Section 16. 71.05 (6) (b) 57. of the statutes is created to read:
SB1036,,404071.05 (6) (b) 57. The amount of a distribution made to an account beneficiary, as defined in s. 224.58 (1) (b), under s. 224.58 (4).
SB1036,1741Section 17. 71.78 (4) (w) of the statutes is created to read:
SB1036,,424271.78 (4) (w) The department of financial institutions and the department of health services for the purpose of determining eligibility under s. 224.58 (3) (a) 1.
SB1036,1843Section 18. 224.58 of the statutes is created to read: