LRB-4087/1
RAC:cjs:kjf
2001 - 2002 LEGISLATURE
October 26, 2001 - Introduced by Senators Chvala, Robson, Decker, Burke and
Grobschmidt, cosponsored by Representatives Lassa, Wieckert, Black,
Musser, Wasserman, M. Lehman, Boyle, Shilling, Balow, Colon, Turner,
Bock and Ryba. Referred to Committee on Economic Development and
Corrections.
SB295,1,3
1An Act to repeal 20.866 (2) (z) 3m. e.; and
to amend 20.866 (2) (z) 3m. b., 20.866
2(2) (z) 3m. c. and 20.866 (2) (z) 3m. d. of the statutes;
relating to: funding for
3the Biostar program.
Analysis by the Legislative Reference Bureau
2001 Wisconsin Act 16 (the biennial budget act), established the Biostar
initiative, a program created for the purpose of providing financial support to attract
federal and private funds to construct biological sciences facilities to spur biological
sciences education and research activities at the University of Wisconsin-Madison.
All projects financed under the program must be designed to provide biological
sciences education and research facilities, ancillary systems, and supporting
infrastructure. Current law provides that an amount equal to $158,500,000 in
general obligation bonding is allocated for the Biostar initiative. However, the
amount that is authorized is phased in over a period of ten years. Prior to July 1,
2003, the amount of general obligation debt that is authorized may not exceed
$18,000,000; prior to July 1, 2005, the amount of general obligation debt that is
authorized may not exceed $63,500,000; prior to July 1, 2007, the amount of general
obligation debt that is authorized may not exceed $95,500,000; prior to July 1, 2009,
the amount of general obligation debt that is authorized may not exceed
$127,500,000; and, after June 30, 2009, the amount of general obligation debt that
is authorized may not exceed $158,500,000.
This bill provides an accelerated time table for authorizing general obligation
debt to fund the Biostar initiative. Under the bill, prior to July 1, 2005, the amount
of general obligation debt that is authorized may not exceed $95,500,000; prior to
July 1, 2007, the amount of general obligation debt that is authorized may not exceed
$127,500,000; and, after June 30, 2007, the amount of general obligation debt that
is authorized may not exceed $158,500,000.
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:
SB295,2,33
20.866
(2) (z) 3m. b. July 1, 2003, to June 30, 2005,
$63,500,000 $95,500,000.
SB295,2,66
20.866
(2) (z) 3m. c. July 1, 2005, to June 30, 2007,
$95,500,000 $127,500,000.
SB295,2,109
20.866
(2) (z) 3m. d. July 1, 2007,
to June 30, 2009, $127,500,000 or thereafter,
10$158,500,000.
