reglab/statecodes huggingface dataset:
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.341 - Offset to refund on void sales.

24.341
Offset to refund on void sales.
Whenever any claim is made for a refund on a void land sale under s. 24.34, the board shall make an investigation and determination, and offset the value of the use of the land, property removed from the land, and damage or injury to the land by the claimant, together with interest thereon, against the amounts actually paid to the state and to any other persons on account of the purchase, possession, use, damage, or injury to the lands by the claimants. The refund or payment to be made under s. 24.34 shall in no case be more than the excess, if any, of the amounts paid out by the claimant, with interest, over the offset determined under this section.
History:  2005 a. 149.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.35 - Annulment of certificates and patents.

24.35
Annulment of certificates and patents.
Whenever the board has erroneously or improperly issued any certificate or patent for any public lands whereby wrong or injustice has been or may be done, including cases in which the state had no title to the lands, or its title has failed, the board may, upon the written application of the purchaser, or the purchaser's successor in interest, revoke and annul the certificate or patent by its order, which, with the application, shall be filed and recorded in the board's office. A certified copy of the board's order may be recorded in the office of the register of deeds for the county where the lands lie, and upon the recording of the order, the certificate or patent shall be void. When the board's order is so recorded there shall be paid out of the state treasury, from the fund to which it has been credited, to the purchaser, or the purchaser's successor in interest, the amounts in the manner and as provided in s. 24.34.
History:  1991 a. 316; 2005 a. 149.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.355 - Limitation of actions.

24.355
Limitation of actions.
All claims under s. 24.34 or 24.35 shall be barred, unless application for a payment refund is made within 5 years from the time of the payment, or, in cases in which the state never had title, from the time when the invalidity of the title of the state was established.
History:  2005 a. 149.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.36 - Lost certificates and patents.

24.36
Lost certificates and patents.
Whenever any duplicate certificate of sale has been lost or destroyed before the patent has been issued, or whenever any patent has been lost or destroyed, the board, upon satisfactory proof of the fact, established by affidavit filed with the board, may issue a certified copy of the original certificate of sale or of the record in the board's office of the patent, or a quitclaim deed in place of the missing patent, to the person entitled to the copy of the certificate or record of the patent, or quitclaim deed, which shall have the same force and effect as the original duplicate certificate or patent. The board's certificate to the copy and quitclaim deed shall recite the loss or destruction of the original.
History:  2005 a. 149.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.37 - Ejectment.

24.37
Ejectment.
If any person holds or continues in possession of any public lands without written permission from the board, or contrary to the conditions or covenants of any lease or written agreement, or after the lands have been forfeited to the state, that person shall be liable to an action by the state or any purchaser from the state for an unlawful detainer or other proper action to recover possession of the lands and for damages for the detention of the lands.
History:  1991 a. 316; 2005 a. 149; 2009 a. 177.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.38 - Boundaries.

24.38
Boundaries.
The lines, boundaries, and descriptions of the swamp lands as exhibited by the plats and field notes of the United States survey are adopted and deemed conclusively to be the true lines, boundaries, and descriptions of those swamp lands.
History:  2005 a. 149.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.40 - Easements; annexation.

24.40
Easements; annexation.
(1g)
In this section, “telecommunications service” has the meaning given in s. 182.017 (1g) (cq).
(1r)
Every board, commission, department and agency of the state having real estate belonging to the state under its control may grant easements in said property for public utility or telecommunications service through, over, under, along or to said property, including without limitation by enumeration the necessary poles, wires, structures, lines, fiber, conduits, pipes or pipe lines for heat, light, water, gas, sewer, power, telecommunications service, telegraph and transmission of messages.
(2)
Every such board, commission, department and agency may petition or join in a petition for and on behalf of the state as the owner of such property to annex or detach the same or any part or parts thereof to or from an adjoining municipality.
(3)
Notwithstanding s. 28.02 (5) or any contrary rule promulgated by the department, if the department grants an easement under sub. (1r) for the construction of broadband infrastructure in underserved areas, as designated under s. 196.504 (2) (d), the department may not require any appraisal or the payment of any fee to grant the easement.
History:  1985 a. 297 s. 76; 2017 a. 59; 2017 a. 364 s. 49.
The state is specifically authorized to petition for annexation by sub. (2), which would be rendered meaningless if the petition had to be rejected or an annexation ordinance declared invalid on the grounds that the city could establish no commercial, residential, or mercantile need for the land. Some demonstrable need must be shown or the annexation is of necessity arbitrary and capricious. In cases of direct annexation a showing of benefits to the annexed land can be considered in the overall question of need under the rule of reason. The benefits to the state were abundant in this case where city recreational facilities and better quality fire, emergency police, and rescue service would be provided to the annexed land. Town of Lafayette v. City of Chippewa Falls, 70 Wis. 2d 610, 235 N.W.2d 435 (1975).
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.51 - Constitutional board.

24.51
Constitutional board.
The board created by article X, section 7, of the constitution may be styled in any law or any action or proceeding in court as “The Board of Commissioners of Public Lands".
History:  1979 c. 34 s. 699g; Stats. 1979 s. 24.51; 1983 a. 192.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.52 - Jurisdiction.

24.52
Jurisdiction.
Together with the power and duty of selling the school and university lands and investing the funds arising therefrom, prescribed for the board by article X, section 7, of the constitution, it is invested with power to dispose of all other public lands and all interests in lands held by the state for sale, and with such further powers as may be necessary or convenient to enable it to exercise the functions and perform the duties imposed upon it by law.
History:  1979 c. 34 s. 699g; Stats. 1979 s. 24.52; 1983 a. 192.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.53 - Investigate land claims; deduct expenses.

24.53
Investigate land claims; deduct expenses.
The board of commissioners of public lands shall investigate the rights of the state to school lands, normal school lands, university lands and agricultural college lands. The expenses incurred in making these investigations and taking necessary steps to protect common school lands, normal school lands, university lands and agricultural college lands and timber on those lands, as well as the expense of necessary surveys, records, appraisals and sales, upon the approval of the board, shall be deducted from the gross receipts of the fund to which the proceeds from the sale of the land or timber will be added.
History:  1979 c. 34 s. 699g; Stats. 1979 s. 24.53.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.54 - Records; copies as evidence.

24.54
Records; copies as evidence.
(1)
The department of administration shall provide an office for the board. The board shall conveniently arrange and preserve in that office all records, books, reports, surveys, maps, field notes, plats and other papers pertaining to the public lands owned by the state, including all public lands that have been or shall be received from the United States or any officer of the United States. The board may perfect the records, books, reports, surveys, maps, field notes, plats and other papers when incomplete, and cause copies of those documents to be made when from injury, loss, use or accident it shall become necessary. Any copy, when certified to be a correct copy by the executive secretary of the board under the executive secretary's signature and the official seal of the office to have been made for any of the causes specified in this subsection, shall have the same force and effect in all courts and places as the original. Any copy from the original records, books, reports, surveys, maps, field notes, plats or other papers, or from any record or paper required by law to be kept in the office, or any copy from a certified copy of one of those documents, when certified by the executive secretary of the board or any member of the board of commissioners of public lands under the official seal of the board, shall be received in evidence with the same effect as the original.
(2)
All records, books and files kept by the board shall at all business hours be open, under proper regulations made by it, to the inspection of any person, free of charge. The board also may in like manner make, perfect, and complete proper records, books, reports and other papers pertaining to the lands of which the state has been or is trustee for the United States.
History:  1979 c. 34 s. 699g; 1979 c. 176; Stats. 1979 s. 24.54; 1989 a. 31; 1993 a. 16.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.55 - Executive secretary; deputy; staff; appointments; duties; oath.

24.55
Executive secretary; deputy; staff; appointments; duties; oath.
The board shall appoint an executive secretary outside the classified service. The executive secretary shall appoint a deputy who shall, during the absence of the executive secretary, have all of the authority given by law to the executive secretary. The executive secretary and deputy shall take and file the official oath.
History:  1979 c. 34 s. 699g; Stats. 1979 s. 24.55; 1993 a. 16.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.56 - Not to buy lands.

24.56
Not to buy lands.
The board, and all persons employed by it or about any of its respective offices, are prohibited from purchasing any of the public lands, directly or indirectly, either in their own name or in the name of any other person in trust for them or either of them; and for every tract or parcel of land purchased in violation hereof each such person offending shall forfeit not more than $250.
History:  1975 c. 365; 1979 c. 34 s. 699g; Stats. 1979 s. 24.56; 1993 a. 16.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.57 - Report of board.

24.57
Report of board.
The board shall include in any report submitted under s. 15.07 (6) a report of its official proceedings for the period since the proceedings reported in the most recent report, showing the quantity of land sold or leased and the amount received therefor, the amount of interest moneys accrued or received and a specific account of the several investments made by them, stating in all cases of loans, the name of each borrower, the sum borrowed and a description of the property mortgaged. The report also shall include such other matters as it thinks proper to communicate or as the legislature requires.
History:  1979 c. 34 s. 699g; Stats. 1979 s. 24.57; 1983 a. 27.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.58 - Appraisers.

24.58
Appraisers.
The board may select employees of the department to appraise lands or perform other services in field and forest. The board shall reimburse the department under a contract with the department for the performance of public land management services.
History:  1975 c. 94; 1979 c. 34 s. 699g; Stats. 1979 s. 24.58; 1993 a. 16.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.59 - Sale of public lands to state under Warren Knowles-Gaylord Nelson stewardship 2000 program.

24.59
Sale of public lands to state under Warren Knowles-Gaylord Nelson stewardship 2000 program.
(1)
Notwithstanding ss. 24.09, 24.10, 24.15, 24.16, and 24.32, but subject to subs. (2) and (3), the board may sell to the state public lands that the board identifies as available for sale to the state. Notwithstanding s. 24.08 (4), the public lands shall be sold at the appraised value determined under sub. (2).
(2)
The board shall have all of the public lands specified under sub. (1) independently appraised under s. 24.08 (2) and (3) after May 3, 2006, but before sale under sub. (1).
(3)
Notwithstanding s. 24.11, public lands sold under sub. (1) may not be paid for in installments.
History:  2005 a. 352; 2015 a. 55.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.605 - Accounts in trust funds for deposit of proceeds from sale of certain lands.

24.605
Accounts in trust funds for deposit of proceeds from sale of certain lands.
The board shall establish in each of the trust funds an account to which are credited the proceeds from the sale of any public lands, except sales under s. 24.09 (1) (bg), on or after May 3, 2006, that are required by law to be deposited in the funds. Moneys credited to the accounts in the funds may only be used to invest in land under s. 24.61 (2) (a) and for the payment of expenses necessarily related to investing in land under s. 24.61 (2) (a).
History:  2005 a. 352; 2015 a. 60; 2017 a. 314.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.62 - Expenses.

24.62
Expenses.
(1)
Except as authorized in sub. (2), the board shall deduct its expenses incurred in administering investments and loans under s. 24.61 from the gross receipts of the fund to which the interest and income of the investment or loan will be added.
(2)
The board may charge its expenses incurred in the sale of a state trust fund loan or participation therein under s. 24.69 to the purchaser of the loan or participation, or may deduct the expenses from the gross receipts of the fund to which the interest and income of the loan or participation will be added, or both. If the board sells any state trust fund loan or participation therein under s. 24.69 in any fiscal year, the board shall, no later than October 1 following that fiscal year, prepare and file in its office a report which identifies in detail the board's expenses incurred during that fiscal year that are directly attributable to the sale of state trust fund loans and participations under s. 24.69.
(3)
If any land purchased under s. 24.61 (2) (a) on or after July 14, 2015, or acquired in an exchange under s. 24.09 on or after July 14, 2015, was at the time of the purchase or acquisition subject to assessment or levy of a real property tax or subject to an obligation to make state or federal payments in lieu of taxes, the board shall make annual payments in lieu of property taxes from the appropriation under s. 20.507 (1) (c) to the appropriate local governmental unit in an amount equal to the property taxes levied on the land, or equal to the state or federal payments in lieu of taxes made with respect to the land, in the year prior to the year in which the board purchased or acquired the land.
History:  1979 c. 34; 1981 c. 169; Stats. 1981 s. 24.62; 1989 a. 31; 2005 a. 352; 2015 a. 55, 60; 2017 a. 366; 2021 a. 58.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.64 - Reimbursements for certain administrative services.

24.64
Reimbursements for certain administrative services.
The board shall reimburse the department of administration, from the appropriation account under s. 20.507 (1) (a), for the costs of administrative services provided by the department of administration and other state agencies to the board.
History:  1999 a. 9; 2019 a. 9.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.65 - Date when interest and principal become due.

24.65
Date when interest and principal become due.
The annual interest and installments of principal of all state trust fund loans are payable into the state treasury on or before the date specified in s. 24.70 (4) or 24.71 (4).
History:  1975 c. 224; 1979 c. 221; 1981 c. 169; Stats. 1981 s. 24.65; 1987 a. 76, 378.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.68 - Payment of state trust fund loans.

24.68
Payment of state trust fund loans.
All the taxable property in any municipality which obtains a general obligation trust fund loan shall stand charged for the payment of the principal and interest on that loan.
History:  1979 c. 221; 1981 c. 169; Stats. 1981 s. 24.68; 1987 a. 378; 2011 a. 71.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.69 - Sale of state trust fund loans.

24.69
Sale of state trust fund loans.
(1)
The board may sell state trust fund loans or participations therein, and may contract to do so at a future date, for such price, upon such other terms and in such manner as the board may determine. The sale may be to any person, including, without limitation, a trust or other investment vehicle created for the purpose of attracting private investment capital. The board shall remit the proceeds of the sale to the secretary of administration for deposit in the appropriate trust fund and shall invest the proceeds in accordance with s. 24.61.
(2)
Before entering into the sale of any state trust fund loan, the board shall refer the terms of the proposed sale to the investment board for its recommendations.
(3)
The board may agree to administer any state trust fund loan so sold or participated, and, in connection therewith, may exercise the collection powers and procedures set forth in ss. 24.70 and 24.71 and may agree to repurchase any such state trust fund loan or participation upon the occurrence of a default thereon or upon the occurrence of other events specified in the sale agreement.
(4)
The board shall invest the proceeds of the sale of trust fund loans or participations therein in a manner that, to the greatest extent practicable, will ensure the safety of the principal.
History:  1989 a. 31; 2003 a. 33.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.70 - Collection from borrowers other than school districts.

24.70
Collection from borrowers other than school districts.
(1)
Applicability. This section applies to all outstanding state trust fund loans to borrowers other than school districts, drainage districts created under ch. 88, local professional baseball park districts created under subch. III of ch. 229, and federated public library systems.
(2)
Certified statement. If a borrower other than a school district has a state trust fund loan, the board shall transmit to the clerk of the jurisdiction, or the person signing the application on behalf of the borrower in the case of a cooperative educational service agency, a certified statement of the amount due on or before October 1 of each year until the loan is repaid. The board shall submit a copy of each certified statement to the secretary of administration. A cooperative educational service agency shall transmit a copy of the statement to the clerk of each school district on behalf of which the agency has obtained a loan.
(3)
Amount added to municipal levy. Upon receipt of a certified statement by a municipal clerk, the municipal clerk shall then cause the amount to be added to the municipal levy and collected in the same manner as the municipal tax except the amount for the state trust fund loan shall be separately designated. Upon receipt of a certified statement by a school district clerk from a cooperative educational service agency, the clerk shall cause the amount for which the district is responsible under s. 24.61 (7) to be added to the school district levy and collected in the same manner as the school district tax, except that the amount for the loan shall be separately stated. This subsection does not apply to revenue obligation trust fund loans.
(4)
Payment to board. The treasurer of each municipality shall remit to the board on its order the full amount due for state trust fund loans within 15 days after March 15. Each cooperative educational service agency shall similarly remit the annual amount owed on any state trust fund loan made to the agency by that date. Any payment not made by March 30 is delinquent and is subject to a penalty of one percent per month to be paid to the board with the delinquent payment.
(6)
Failure to make payments. If any municipality fails to remit the amount due by the date specified under sub. (4), the board shall file a certified statement of the delinquent amount with the department of administration. The secretary of administration shall collect the amount due, including any penalty, by deducting that amount from any state payments due the municipality, shall notify the treasurer and the board of that action, and shall immediately remit to the board any amounts deducted from any state payments due to the municipality.
History:  1979 c. 221; 1981 c. 169; Stats. 1981 s. 24.70; 1987 a. 185, 378; 1995 a. 27; 2001 a. 16; 2003 a. 33; 2007 a. 20; 2009 a. 2, 28; 2011 a. 71.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.71 - Collections from school districts.

24.71
Collections from school districts.
(1)
Applicability. This section applies to all outstanding trust fund loans to school districts.
(2)
Certified statement. If a school district has a state trust fund loan, the board shall transmit to the school district clerk a certified statement of the amount due on or before October 1 of each year until the loan is paid. The board shall furnish a copy of each certified statement to the secretary of administration and the department of public instruction.
(3)
Added to school district levy. The school district clerk shall then cause the amount due to be added to the school district levy and collected in the same manner as the school district tax except the amount for state trust fund loans shall be separately designated. This subsection does not apply to revenue obligation trust fund loans.
(4)
Payment to board. The school district treasurer shall remit to the board the full amount due for state trust fund loans within 15 days after March 15. Any payment not made by March 30 is delinquent and is subject to a penalty of one percent per month or fraction thereof, to be paid to the board with the delinquent payment.
(5)
Failure to make payment. If the school district treasurer fails to remit the amounts due under sub. (4), the state superintendent, upon certification of delinquency by the board, shall deduct the amount due including any penalty from any school aid payments due the school district, shall remit such amount to the board and, no later than June 15, shall notify the school district treasurer to that effect.
History:  1971 c. 262; 1973 c. 90; 1979 c. 221; 1981 c. 169; Stats. 1981 s. 24.71; 1987 a. 185; 1995 a. 27 s. 9145 (1); 1997 a. 27; 2003 a. 33; 2009 a. 2; 2011 a. 71.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.715 - Collections from federated public library systems.

24.715
Collections from federated public library systems.
(1)
Applicability. This section applies to all outstanding trust fund loans to federated public library systems.
(2)
Certified statement. If a federated public library system has a state trust fund loan, the board shall transmit to the system board a certified statement of the amount due on or before October 1 of each year until the loan is paid. The board shall furnish a copy of each certified statement to the state treasurer and the department of public instruction.
(3)
Payment to board. The system board shall remit to the board on its own order the full amount due for state trust fund loans within 15 days after March 15. Any payment not made by March 30 is delinquent and is subject to a penalty of one percent per month or fraction thereof, to be paid to the board with the delinquent payment.
(4)
Failure to make payment. If the system board fails to remit the amounts due under sub. (3), the state superintendent, upon certification of delinquency by the board, shall deduct the amount due, including any penalty, from any aid payments due the system, shall remit such amount to the board and, no later than June 15, shall notify the system board to that effect.
History:  2001 a. 16, 104; 2009 a. 2; 2011 a. 71.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.716 - Collections from drainage districts.

24.716
Collections from drainage districts.
(1)
Applicability. This section applies to all outstanding trust fund loans to drainage districts created under ch. 88.
(2)
Certified statement. If a drainage district has a state trust fund loan, the board shall transmit to the district board a certified statement of the amount due on or before October 1 of each year until the loan is paid. The board shall furnish a copy of each certified statement to the department of administration.
(3)
Payment to board. The district board shall remit to the board on its own order the full amount due for state trust fund loans within 15 days after March 15. Any payment not made by March 30 is delinquent and is subject to a penalty of 1 percent per month or fraction thereof, to be paid to the board with the delinquent payment.
(4)
Failure to make payment. If the district board fails to remit the amounts due under sub. (3), the secretary of administration, upon certification of delinquency by the board of commissioners of public lands, shall deduct the amount due, including any penalty, from any state aid payments due the district, shall remit such amount to the board, and, no later than June 15, shall notify the district board to that effect.
History:  2007 a. 20; 2009 a. 2; 2011 a. 71.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.717 - Collections from local professional baseball park districts.

24.717
Collections from local professional baseball park districts.
(1)
Applicability. This section applies to all outstanding trust fund loans to local professional baseball park districts created under subch. III of ch. 229.
(2)
Certified statement. If a local professional baseball park district has a state trust fund loan, the board of commissioners of public lands shall transmit to the local professional baseball park district board a certified statement of the amount due on or before October 1 of each year until the loan is paid. The board of commissioners of public lands shall furnish a copy of each certified statement to the department of administration.
(3)
Payment to board. The local professional baseball park district board shall remit to the board of commissioners of public lands on its own order the full amount due for state trust fund loans within 15 days after March 15. Any payment not made by March 30 is delinquent and is subject to a penalty of 1 percent per month or fraction thereof, to be paid to the board of commissioners of public lands with the delinquent payment.
(4)
Failure to make payment. If the local professional baseball park district board fails to remit the amounts due under sub. (3), the secretary of administration, upon certification of delinquency by the board of commissioners of public lands, shall deduct the amount due, including any penalty, from any state payments due the district, shall remit such amount to the board, and, no later than June 15, shall notify the district board and the board of commissioners of public lands to that effect.
History:  2009 a. 28; 2011 a. 71.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.718 - Collections from local exposition districts.

24.718
Collections from local exposition districts.
(1)
Applicability. This section applies to all outstanding trust fund loans to local exposition districts created under subch. II of ch. 229.
(2)
Certified statement. If a local exposition district has a state trust fund loan, the board shall transmit to the local exposition district board a certified statement of the amount due on or before October 1 of each year until the loan is paid. The board shall furnish a copy of each certified statement to the department of administration.
(3)
Payment to board. The local exposition district board shall remit to the board on its own order the full amount due for state trust fund loans within 15 days after March 15. Any payment not made by March 30 is delinquent and is subject to a penalty of 1 percent per month or fraction thereof, to be paid to the board with the delinquent payment.
History:  2015 a. 60.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.72 - Use of funds.

24.72
Use of funds.
No money obtained by a borrower from a state trust fund loan may be applied to or paid out for any purpose except that specified in the application for the loan without the consent of the board.
History:  1971 c. 154; 1979 c. 221; 1981 c. 169; Stats. 1981 s. 24.72; 1995 a. 27.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.73 - Extension of loan.

24.73
Extension of loan.
All loans made or which may be made from any state trust funds to any borrower may be extended for such time and upon such terms as may be agreed upon by and between the board and such borrower; provided, however, that no loan shall be extended upon which there is any default in the payment of interest at the time of making application therefor, nor to any period beyond 20 years from its inception, nor at any rate of interest less than the minimum established by law.
History:  1981 c. 169; Stats. 1981 s. 24.73; 1995 a. 27.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.74 - Duty of attorney general and revenue department.

24.74
Duty of attorney general and revenue department.
If any officer neglects or refuses to perform any duty required of the officer by law in relation to the levy or collection of any tax required to be raised to make any payment of principal or interest on any loan from the state, the attorney general shall apply to the supreme court for a mandamus to compel the performance of such duty; and the department of revenue may do or cause to be done the duty required of such officer with the same effect as if done by the officer.
History:  1981 c. 169; Stats. 1981 s. 24.74; 1991 a. 316.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.75 - Interest, how accounted for.

24.75
Interest, how accounted for.
All money collected as interest upon any state trust fund loan shall be paid into the state treasury. All moneys collected as interest upon any trust fund loan are considered gross receipts and shall be credited to the income of the fund from which the loan was made except that expenses may be deducted as provided under s. 24.62 (1).
History:  1979 c. 221; 1981 c. 169; Stats. 1981 s. 24.75; 1989 a. 31.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.76 - Common school fund.

24.76
Common school fund.
All moneys accruing to the state by virtue of article X, section 2, of the constitution, and all other moneys paid into the state treasury on account of the capital of the school fund, constitute the school fund. All of said fund, except that portion set apart for state universities by s. 24.80, having been found necessary for the support and maintenance of common schools in each school district, and the purchase of suitable libraries and apparatus therefor, is set apart for those objects and denominated the “Common School Fund" which is a separate and perpetual fund.
History:  1981 c. 169; Stats. 1981 s. 24.76; 1983 a. 192.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.77 - Common school fund income.

24.77
Common school fund income.
The common school fund income is constituted of the interest derived from the common school fund and from unpaid balances of purchase money on sales of common school lands; and all other revenues derived from the common school lands; but the common school fund income and interest and revenues derived from the common school fund and from common school lands do not include expenses deducted from gross receipts permitted under ss. 24.04 (2), 24.53 and 24.62 (1).
History:  1979 c. 34; 1981 c. 169; Stats. 1981 s. 24.77; 1989 a. 31.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.78 - Distribution of the common school fund income.

24.78
Distribution of the common school fund income.
Under article X, section 5, of the constitution the common school fund income shall be distributed to the school districts among the several towns, villages and cities of the state for the support of common schools therein, as provided in s. 43.70.
History:  1971 c. 152 s. 38; 1981 c. 169; Stats. 1981 s. 24.78; 1983 a. 192; 1997 a. 27; 1999 a. 9.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.79 - Swampland grants.

24.79
Swampland grants.
All swamp and overflowed lands and moneys in lieu thereof received from the United States by virtue of the act of congress approved September 28, 1850, entitled “an act to enable the state of Arkansas and other states to reclaim the swamp lands within their limits;" and all moneys received as purchase money for such lands, including loans and investments and moneys due upon certificates of sale thereof; and all swamp lands and moneys in lieu thereof received subsequent to the enactment of chapter 537, laws of 1865, or which are hereafter received, from the United States; and the proceeds of the sale of all lands conveyed to this state pursuant to the act of congress approved March 2, 1865, entitled “an act for the relief of purchasers and locators of swamp and overflowed lands," are trust lands and moneys, to be applied, exclusively, as provided in s. 24.80.
History:  1981 c. 169; Stats. 1981 s. 24.79; 1999 a. 83.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.80 - Normal school fund.

24.80
Normal school fund.
The lands and moneys described in s. 24.79, not being granted for any other specified purpose, accrue to the school fund under article X, section 2, of the constitution; and having been found unnecessary for the support and maintenance of common schools, are appropriated to the support and maintenance of state universities and suitable libraries and apparatus therefor, and to that end are set apart and denominated the “Normal School Fund". All lands, moneys, loans, investments and securities set apart to the normal school fund and all swamp lands and income and interest received on account of the capital of that fund constitute a separate and perpetual fund. Normal school fund income, interest and revenues do not include expenses deducted from gross receipts permitted under ss. 24.04 (2), 24.53 and 24.62 (1).
History:  1979 c. 34; 1981 c. 169; 1981 c. 391 s. 210; Stats. 1981 s. 24.80; 1983 a. 192; 1989 a. 31; 2009 a. 28; 2011 a. 32.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.81 - University fund.

24.81
University fund.
All moneys accruing to the state under article X, section 6, of the constitution, and all other moneys paid into the state treasury on account of the capital of the university fund, constitute the university fund, which is a separate and perpetual fund. University fund income, interest and revenues do not include expenses deducted from gross receipts permitted under ss. 24.04 (2), 24.53 and 24.62 (1).
History:  1979 c. 34; 1981 c. 169; Stats. 1981 s. 24.81; 1983 a. 192; 1989 a. 31.
2023 Wisconsin Statutes & Annotations › Chapter 24 - Public domain and the trust funds. › 24.82 - Agricultural college fund.

24.82
Agricultural college fund.
All moneys derived from the sale of the lands and land scrip accruing to the state by virtue of the act of congress approved July 2, 1862, entitled “an act donating public lands to the several states and territories which may provide colleges for the benefit of agricultural and the mechanic arts," and income and interest received on account of the capital of the agricultural college fund, constitute the agricultural college fund, which is a separate and perpetual fund and shall remain forever undiminished. Agricultural college fund income, interest and revenues do not include expenses deducted from gross receipts permitted under ss. 24.04 (2), 24.53 and 24.62 (1). If this fund is by any action or contingency impaired, a state tax is hereby levied sufficient to replace the same, to be collected with the state taxes for the next ensuing year and paid into this fund.
History:  1979 c. 34; 1981 c. 169; Stats. 1981 s. 24.82; 1989 a. 31.
2023 Wisconsin Statutes & Annotations › Chapter 25 - Trust funds and their management. › 25.156 - Powers and duties of members of the board.

25.156
Powers and duties of members of the board.
(1)
The members of the board shall be the governing body of the board and shall promulgate rules and formulate policies considered necessary and appropriate to carry out its functions.
(2)
The board shall employ an executive director, who shall serve outside the classified service. The executive director shall be qualified by training and prior experience to manage, administer and direct the investment of funds. The board shall fix the compensation of the executive director and may award bonus compensation.
(2m)
The board shall employ an internal auditor, who shall serve outside the classified service. The board shall fix the compensation of the internal auditor.
(3)
The members of the board shall appoint an investment director or deputy executive director, internal auditor, chief investment officer, chief financial officer, chief legal counsel, or chief risk officer to act as assistant director, except that until the appointment is made by the members of the board, the executive director may temporarily designate the assistant director.
(4)
The members of the board shall promulgate rules restricting the executive director, deputy executive director, internal auditor, chief investment officer, chief financial officer, chief legal counsel, chief risk officer, investment directors, and employees from having financial interest, directly or indirectly, in firms or corporations providing services to the department and governing the receipt of gifts or favors therefrom, and also governing personal investments of all employees including the executive director, deputy executive director, internal auditor, chief investment officer, chief financial officer, chief legal counsel, chief risk officer, and investment directors to prevent conflicts of interest.
(5)
The members of the board shall be the trustees of the state investment fund.
(8)
The board shall keep full minutes of its proceedings.
(9)
The chairperson of the board shall appear at least annually before any committee established in the senate, whose jurisdiction includes financial institutions, if that committee so requests.
History:  1979 c. 110; 1985 a. 332 s. 251 (1), (6); 1987 a. 399; 1991 a. 39; 1995 a. 274; 1997 a. 27, 35; 1999 a. 9, 83, 186; 2021 a. 177.
The board lacks authority to place one of its members or employees on the board of directors of a private corporation. 75 Atty. Gen. 213.
2023 Wisconsin Statutes & Annotations › Chapter 25 - Trust funds and their management. › 25.165 - Internal auditor.

25.165
Internal auditor.
(1)
There is created in the board an internal audit subunit, under the supervision of the internal auditor. The internal auditor shall report directly to the board and shall appoint all employees necessary to carry out the duties of the internal auditor. The internal auditor shall appoint all employees outside the classified service. The internal auditor shall fix the compensation of all employees appointed by the internal auditor, but the board may provide for bonus compensation to employees.
(2)
The internal auditor may review any activity, information or investment of the board and have access to records of the board and any external party under contract with the board and shall do all of the following:
(a)
Plan and conduct audit activities, risk assessments, research projects and management reviews under the direction of the board and in accordance with policies, principles and directives determined by the board.
(b)
Coordinate and assist with external audits and reviews of the board.
(c)
Through periodic internal audits, monitor for compliance with applicable legal requirements and with the board's contractual agreements any bank, savings and loan association, savings bank, or credit union with which the board has entered into a custodial agreement under s. 25.17 (11); any investment advisers with which the board has contracted to manage and control board assets under s. 25.18 (2) (e); and any other external parties with which the board has contracted to provide investment services to the board.
History:  1995 a. 274; 1999 a. 9, 83, 186; 2011 a. 32; 2021 a. 177.
2023 Wisconsin Statutes & Annotations › Chapter 25 - Trust funds and their management. › 25.167 - Chief investment officer.

25.167
Chief investment officer.
(1m)
Except as provided in sub. (2m), under the supervision of the executive director, the chief investment officer shall do all of the following:
(a)
Monitor activities of the investment directors for compliance with the board's investment policies and guidelines in investment decisions and approve unusual transactions, as defined by the board.
(b)
Develop and implement operating procedures that are intended to ensure that the investment policies and guidelines of the board are followed.
(c)
Ensure that investments are completely and accurately reported on all management and financial reports and that any information requested by the board is provided to the board on a timely basis.
(2m)
If the executive director and chief investment officer are the same person, the executive director shall designate another investment director to take the actions specified in sub. (1m).
History:  1995 a. 274; 2021 a. 177.
2023 Wisconsin Statutes & Annotations › Chapter 25 - Trust funds and their management. › 25.182 - Management authority for certain funds.

25.182
Management authority for certain funds.
In addition to the management authority provided under any other provision of law, and notwithstanding any limitation on the board's management authority provided under any other provision of law, the board shall have authority to manage the money and property of the core retirement investment trust and, subject to s. 25.17 (5), the variable retirement investment trust in any manner that does not violate the standard of responsibility specified in s. 25.15 (2).
History:  2007 a. 212.
The State of Wisconsin Investment Board (SWIB) has the power to make investments that meet the standard of prudence under s. 25.15 (2), even if those investments are not specifically listed in this chapter. Prior to making investments other than the types enumerated in this chapter, SWIB is not required to make a threshold finding that investing solely in the “legal list" would not meet the standard of prudence. The statutory standard for prudence remains the same whether SWIB is investing in an enumerated investment, or one that is not enumerated. Because the standard of prudence, however, takes into account the trustees' powers to manage the funds, SWIB's expanded powers are a relevant factor in evaluating whether SWIB has met that standard. OAG 11-08.
The State of Wisconsin Investment Board (SWIB) has the statutory authority to issue debt as part of its broad management authority over the core retirement investment trust fund, provided that SWIB satisfies the prudent person and other standards listed in s. 25.15 (2). The statutory standards apply the same way to issuing debt as a management tool as they apply to any other strategy. OAG 2-22.
2023 Wisconsin Statutes & Annotations › Chapter 25 - Trust funds and their management. › 25.184 - Confidentiality of venture capital investment information.

25.184
Confidentiality of venture capital investment information.
Information relating to investments made or considered by the board in securities of entities that are in the venture capital stage are not subject to public inspection, copying, or disclosure under s. 19.35 unless the information has been publicly released by another person.
History:  2011 a. 32.
2023 Wisconsin Statutes & Annotations › Chapter 25 - Trust funds and their management. › 25.185 - Minority financial advisers and investment firms; disabled veteran-owned financial advisers and investment firms.

25.185
Minority financial advisers and investment firms; disabled veteran-owned financial advisers and investment firms.
(1)
In this section:
(a)
“Disabled veteran-owned financial adviser" means a financial adviser certified by the department of administration under s. 16.283 (3).
(b)
“Disabled veteran-owned investment firm" means an investment firm certified by the department of administration under s. 16.283 (3).
(c)
“Minority financial adviser" means a financial adviser certified by the department of administration under s. 16.287 (2).
(d)
“Minority investment firm" means an investment firm certified by the department of administration under s. 16.287 (2).
(2)
(a)
The board shall attempt to ensure that 5 percent of the total funds expended for financial and investment analysis and for common stock and convertible bond brokerage commissions in each fiscal year is expended for the services of minority financial advisers or minority investment firms.
(b)
The board shall attempt to ensure that at least 1 percent of the total funds expended for financial and investment analysis and for common stock and convertible bond brokerage commissions in each fiscal year is expended for the services of disabled veteran-owned financial advisers or disabled veteran-owned investment firms.
(3)
The board shall annually report to the department of administration the total amount of moneys expended under sub. (2) for common stock and convertible bond brokerage commissions, the services of minority and disabled veteran-owned financial advisers, and the services of minority and disabled veteran-owned investment firms during the preceding fiscal year.
History:  1987 a. 27; 1995 a. 27 s. 9116 (5); 1999 a. 83; 2009 a. 299; 2011 a. 32; 2011 a. 260 s. 80; 2013 a. 192.