Amendment ASA1-AB811

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2003 - 2004 LEGISLATURE

ASSEMBLY SUBSTITUTE AMENDMENT 1, TO 2003 ASSEMBLY BILL 811

February 17, 2004 - Offered by Representative Krawczyk.

AB811-ASA1,1,4 An Act to amend 38.39 (3) (c); and to create 20.292 (1) (cn), 20.292 (1) (kn) and 38.39 (4) and (4m) of the statutes; relating to: appropriating money to technical college districts for the Wisconsin Advantage Jobs Training Program and making an appropriation.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

AB811-ASA1, s. 1 Section 1. 20.292 (1) (cn) of the statutes is created to read:

AB811-ASA1,1,9 20.292 (1) (cn) Services provided to businesses. A sum sufficient equal to the total of the amounts determined by the department of revenue under s. 73.03 (61) for distribution to the districts under s. 38.39 and for transfer to the appropriation account under par. (kn).

AB811-ASA1, s. 2 Section 2. 20.292 (1) (kn) of the statutes is created to read:

AB811-ASA1,1,12 20.292 (1) (kn) Revenue bond stabilization. All moneys transferred from the appropriation account under par. (cn) for the purposes specified in s. 38.39 (4m) (b).

AB811-ASA1, s. 3 Section 3. 38.39 (3) (c) of the statutes, as created by 2003 Wisconsin Act .... (Assembly Bill 796), is amended to read:

AB811-ASA1,2,10 38.39 (3) (c) The district board shall maintain a special fund, to be identified as the Wisconsin Advantage Jobs Training Program special redemption fund, into which it deposits the fees received under sub. (2), the payments received from the state under sub. (4), and any other moneys designated by the district board for deposit into the special fund. The district board may use this revenue solely for the payment of principal and interest on the bonds issued under par. (a) until all such bonds are retired. When the bonds are retired, the district board shall transmit the balance in the fund to the secretary of administration for deposit in the general fund.

AB811-ASA1, s. 4 Section 4. 38.39 (4) and (4m) of the statutes are created to read:

AB811-ASA1,2,14 38.39 (4) Annually the board shall pay to the district board, from the appropriation under s. 20.292 (1) (cn), an amount equal to the amount calculated for that district by the department of revenue under s. 73.03 (61).

AB811-ASA1,2,18 (4m) (a) Annually the board shall determine the amount to be transferred from the appropriation account under s. 20.292 (1) (cn) to the appropriation account under s. 20.292 (1) (kn). The amount transferred may not exceed an amount equal to the following:

AB811-ASA1,2,20 1. In the 2004-05 fiscal year, 7 percent of the total of the amounts determined by the department of revenue in that fiscal year under s. 73.03 (61).

AB811-ASA1,2,22 2. In the 2005-06 fiscal year, 6 percent of the total of the amounts determined by the department of revenue in that fiscal year under s. 73.03 (61).

AB811-ASA1,2,25 3. In the 2006-07 fiscal year and in each fiscal year thereafter, 5 percent of the total of the amounts determined by the department of revenue in that fiscal year under s. 73.03 (61).

AB811-ASA1,3,7 (b) The board shall use the moneys appropriated under s. 20.292 (1) (kn) to offset any shortfall in revenue collected by the districts for payment of principal and interest on the bonds issued under sub. (3) (a). If in any fiscal year the board determines that the unencumbered balance in the appropriation account under s. 20.292 (1) (kn) is more than sufficient for that purpose, the board shall distribute the excess to the district boards according to each district's proportional share of the total of the amounts calculated by the department of revenue under s. 73.03 (61)

AB811-ASA1, s. 5 Section 5. Nonstatutory provisions.

AB811-ASA1,3,10 (1) This act is void unless 2003 Wisconsin Act .... (Assembly Bill 796) is enacted into law on or before the effective date of this subsection.

AB811-ASA1,3,11 (End)