Amendment SA1-SSA2-SB203

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2003 - 2004 LEGISLATURE

SENATE AMENDMENT 1, TO SENATE SUBSTITUTE AMENDMENT 2, TO 2003 SENATE BILL 203

March 11, 2004 - Offered by Senators Stepp, Lazich, Carpenter, Reynolds, Moore, Wirch and Coggs.

SB203-SSA2-SA1,1,1 At the locations indicated, amend the substitute amendment as follows:

SB203-SSA2-SA1,1,2 1. Page 1, line 2: after "revenue" insert "and auditing the finances".

SB203-SSA2-SA1,1,4 2. Page 1, line 3: after "district" insert ", the sunset of local professional baseball park district sales and use taxes,".

SB203-SSA2-SA1,1,5 3. Page 1, line 5: before that line insert:

SB203-SSA2-SA1,1,6 " Section 1b. 13.94 (1) (r) of the statutes is created to read:

SB203-SSA2-SA1,1,11 13.94 (1) (r) Biennially conduct a financial audit of a district, as defined in s. 229.65 (5), to determine whether the revenue from the taxes imposed by the district under subch. V of ch. 77 is being used for the purposes specified under s. 229.685 (1). The legislative audit bureau shall file a copy of the audit report under this paragraph with the distributees specified in par. (b).

SB203-SSA2-SA1, s. 1d Section 1d. 77.707 (1) of the statutes is amended to read:

SB203-SSA2-SA1,2,7 77.707 (1) Retailers and the department of revenue may not collect a tax under s. 77.705 for any local professional baseball park district created under subch. III of ch. 229 after the calendar quarter during which the local professional baseball park district board makes a certification to the department of revenue under s. 229.685 (2) ending on December 31, 2014, except that the department of revenue may collect from retailers taxes that accrued before that calendar quarter and fees, interest and penalties that relate to those taxes.".

SB203-SSA2-SA1,2,8 4. Page 1, line 5: delete " Section 1" and substitute "Section 1m".

SB203-SSA2-SA1,2,9 5. Page 3, line 2: after that line insert:

SB203-SSA2-SA1,2,10 " Section 3m. 229.79 of the statutes is amended to read:

SB203-SSA2-SA1,2,19 229.79 Budgets; rates and charges; audit. A district shall adopt a calendar year as its fiscal year for accounting purposes. The district board shall annually prepare a budget for the district. Rates and other charges received by the district shall be used for the general expenses and capital expenditures of the district and to pay interest, amortization, and retirement charges on bonds. A district shall maintain an accounting system in accordance with generally accepted accounting principles and shall have its financial statements and debt covenants audited annually by an independent certified public accountant and biennially by the legislative audit bureau under s. 13.94 (1) (r).".

SB203-SSA2-SA1,2,20 (End)