LRB-2131/P2
EVM:cjs&ahe
2019 - 2020 LEGISLATURE
DOA:......Aslesen, BB0434 - Repurpose Hoan Bridge bonding
For 2019-2021 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
transportation
Highways
1. Bridge bonding authorizations
Current law authorizes the state to contract up to $245,000,000 in public debt in the form of general obligation bonds to fund major interstate bridge projects. A “major interstate bridge project” is defined to mean “a project involving the construction or reconstruction of a bridge on the state trunk highway system, including approaches, that crosses a river forming a boundary of the state and for which this state's estimated cost share is at least $100,000,000.” This bill increases the general obligation bonding authorization for major interstate bridge projects to $272,000,000.
Under current law, the state may contract up to $216,800,000 for DOT to fund high-cost state highway bridge projects. This bill reduces this general obligation bonding limit to $206,800,000.
2. Increased bonding authorization for Zoo interchange
Under current law, a southeast Wisconsin freeway megaproject is “any project on a southeast Wisconsin freeway having a total cost of more than $500 million,” as adjusted annually for inflation by DOT. DOT may not provide funding for construction of these projects without legislative approval. Currently, the legislature has approved only the I 94 north-south corridor project and the Zoo interchange project. Among the available funding sources for these projects are proceeds from general obligation bonds.
This bill authorizes the state to contract an additional $65,000,000 in public debt in the form of general obligation bonds to fund the Zoo interchange project.
For further information see the state 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. 20.866 (2) (ugm) of the statutes is amended to read:
20.866 (2) (ugm) Transportation; major interstate bridge construction. From the capital improvement fund, a sum sufficient for the department of transportation to fund major interstate bridge projects under s. 84.016. The state may contract public debt in an amount not to exceed $245,000,000
$272,000,000 for this purpose.
****Note: This is reconciled s. 20.866 (2) (ugm). This Section has been affected by drafts with the following LRB numbers: LRB-2085/p1 and LRB-2131/p1.
Section
2. 20.866 (2) (uup) of the statutes is amended to read:
20.866 (2) (uup) Transportation; southeast rehabilitation projects, southeast megaprojects, and high-cost bridge projects. From the capital improvement fund, a sum sufficient for the department of transportation to fund the Marquette interchange reconstruction project under s. 84.014, as provided under s. 84.555, the reconstruction of the I 94 north-south corridor and the zoo interchange, as provided under s. 84.555 (1m), southeast Wisconsin freeway megaprojects under s. 84.0145, as provided under s. 84.555 (1m), and high-cost state highway bridge projects under s. 84.017, as provided under s. 84.555 (1m). The state may contract public debt in an amount not to exceed $704,750,000 for these purposes. In addition, the state may contract public debt in an amount not to exceed $107,000,000 for the reconstruction of the Zoo interchange and I 94 north-south corridor, as provided under s. 84.555 (1m), as southeast Wisconsin freeway megaprojects under s. 84.0145, in an amount not to exceed $216,800,000 $206,800,000 for high-cost state highway bridge projects under s. 84.017, as provided under s. 84.555 (1m), and in an amount not to exceed $300,000,000 for southeast Wisconsin freeway megaprojects under s. 84.0145, as provided under s. 84.555 (1m), and in an amount not to exceed $65,000,000 for the reconstruction of the Zoo interchange, as provided under s. 84.555 (1m), as a southeast Wisconsin freeway megaproject under s. 84.0145.
****Note: This is reconciled s. 20.866 (2) (uup). This Section has been affected by drafts with the following LRB numbers: LRB-2088/p1 and LRB-2131/p1.
(End)
