Amendment SA1-SB259

LRBa1503/2

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2013 - 2014 LEGISLATURE

SENATE AMENDMENT 1, TO SENATE BILL 259

January 23, 2014 - Offered by Committee on Transportation, Public Safety, and Veterans and Military Affairs.

SB259-SA1,1,1 At the locations indicated, amend the bill as follows:

SB259-SA1,1,2 1. Page 14, line 22: delete "If" and substitute "Subject to subd. 5m., if".

SB259-SA1,1,3 2. Page 15, line 2: after that line insert:

SB259-SA1,2,3 "5m. If at the end of any fiscal year the authority's fund balance is an amount that exceeds an amount equal to 25 percent of its annual operating costs, the authority shall return the excess amount to the participating political subdivisions based on the amount of property taxes provided to the authority from each participating political subdivision as compared to the total amount of property taxes provided to the authority from all the participating political subdivisions. No later than October 15, the authority shall notify each participating political subdivision of the amounts to be distributed to the participating political subdivision in the subsequent calendar year. If in any year a participating political subdivision receives an amount under this subdivision that exceeds the property tax amount that the participating political subdivision levies under subd. 4., the participating political subdivision shall reduce its property tax levy by the amount it receives under this subdivision, up to the amount levied under subd. 4.".

SB259-SA1,2,5 3. Page 24, line 17: delete "of 0.1, 0.2, 0.3, 0.4, or 0.5" and substitute "not to exceed 0.25".

SB259-SA1,2,6 (End)