LRB-1389/1
ARG:nwn:jf
2011 - 2012 LEGISLATURE
DOA:......Byrnes, BB0338 - Transit assistance bonding
For 2011-13 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
transportation
Transportation aids
Under current law, DOT administers a Southeast Wisconsin Transit Capital Assistance Program under which DOT awards grants to eligible applicants for transit capital improvements. The only eligible applicant for this program is the Southeastern Regional Transit Authority, often referred to as SERTA. The only source of funding for the program is proceeds from general obligation bonds issued by the state. The state may contract public debt up to $100,000,000 for purposes of the program.
This bill eliminates the program and bonding authority for the program.
For further information see the state and local fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section
1. 20.395 (6) (af) of the statutes is amended to read:
20.395 (6) (af) Principal repayment and interest, local roads for job preservation program, transit improvements, and major highway and rehabilitation projects, state funds. From the general fund, a sum sufficient to reimburse s. 20.866 (1) (u) for the payment of principal and interest costs incurred in financing the local roads for job preservation program under s. 86.312, transit capital improvements under s. 85.11, as provided under s. 20.866 (2) (uq), and major highway and rehabilitation projects, as provided under ss. 20.866 (2) (uum) and (uur), 84.555, and 84.95, to make the payments determined by the building commission under s. 13.488 (1) (m) that are attributable to the proceeds of obligations incurred in financing the local roads for job preservation program under s. 86.312, and to make payments under an agreement or ancillary arrangement entered into under s. 18.06 (8) (a).
****Note: This Section involves a change in an appropriation that must be reflected in the revised schedule in s. 20.005, stats.
Section
2. 20.866 (2) (uq) of the statutes is repealed.
Section
3. 85.11 of the statutes is repealed.
Section
4. 227.01 (13) (yL) of the statutes is repealed.
(End)
