AB438,53 22Section 53. 229.685 (1) of the statutes is amended to read:
AB438,26,223 229.685 (1) The district board shall maintain a special fund into which it
24deposits only the revenue received from the department of revenue, that is derived

1from the taxes imposed under subch. V of ch. 77, 2021 stats., and may use this
2revenue only for purposes related to baseball park facilities.
AB438,54 3Section 54. 229.685 (3) of the statutes is created to read:
AB438,26,64 229.685 (3) Annually, the district board shall transfer from a fund funded
5under sub. (2) to the baseball park facilities improvement segregated fund under s.
6229.687 not less than all of the following amounts:
AB438,26,77 (a) Through 2039, $2,200,000.
AB438,26,88 (b) The amount deposited under s. 20.395 (5) (ij).
AB438,55 9Section 55. 229.687 of the statutes is created to read:
AB438,26,12 10229.687 Baseball park facilities improvement segregated fund. (1) The
11district shall establish and maintain a baseball park facilities improvement
12segregated fund. The fund shall consist of all of the following:
AB438,26,1313 (a) Moneys borrowed or accepted and deposited under s. 229.68 (8m).
AB438,26,1414 (b) Moneys transferred from other district funds under s. 229.685 (3).
AB438,26,1615 (c) Moneys deposited by a county or 1st class city under 229.695 and payments
16made by the department of administration under s. 79.037 (4).
AB438,26,1717 (d) Moneys received from the department of administration under s. 16.09.
AB438,26,1918 (e) Payments required to be deposited by a professional baseball team under
19a lease agreement, as specified in s. 229.6802 (1) (b) and (c).
AB438,26,2020 (f) All income or interest earned by the investment of moneys of the fund.
AB438,26,22 21(2) (a) Subject to par. (b), the district may use moneys deposited into the fund
22under sub. (1) only for the following purposes:
AB438,26,2423 1. The development, construction, improvement, repair, and maintenance of
24baseball park facilities.
AB438,27,2
12. The district's performance of obligations under any lease with a professional
2baseball team with respect to baseball park facilities.
AB438,27,33 3. Repayment of loans or moneys accepted under s. 229.68 (8m).
AB438,27,44 4. The district's retention of a 3rd-party negotiator under s. 229.6802 (3).
AB438,27,95 5. After 2030, payment of annual insurance premiums with respect to the
6ballpark facilities upon the affirmative vote of the district board and solely to the
7extent that the district board determines that funds held by the district in accounts,
8other than the baseball park facilities improvement segregated fund under this
9section, are insufficient to pay the premium in full.
AB438,27,1310 (b) The district may not use moneys deposited into the fund under sub. (1) for
11the development, construction, improvement, repair, or maintenance of any physical
12structure that was not owned, in whole or in part, operated, or leased by the district
13on the effective date of this paragraph .... [LRB inserts date].
AB438,27,18 14(3) If, for any reason, the professional baseball team notifies the district that
15the team intends to terminate the lease agreement or the lease is otherwise
16terminated, no moneys deposited into the fund under sub. (1) may be expended with
17respect to the baseball park facilities after the date the district receives that notice,
18except any of the following:
AB438,27,1919 (a) Moneys encumbered before receipt of the notice of termination.
AB438,27,2420 (b) Moneys expended to maintain the safety of the baseball park facilities or
21for the improvement, repair, maintenance, or replacement of the components and
22systems necessary to operate the baseball park facilities or comply with applicable
23law, insurance requirements, or standards imposed by the professional baseball
24league of which the professional baseball team is a member.
AB438,28,2
1(c) Moneys expended to make interest payments and principal repayments of
2loans accepted under s. 229.68 (8m).
AB438,28,63 (d) An amount of moneys that does not exceed the amount of the professional
4baseball team's deposits into the baseball park facilities improvement segregated
5fund under s. 229.6802 (1) (b) and (c) between the date of any notice of lease
6termination and the effective date of the termination.
AB438,56 7Section 56. 229.69 (4) of the statutes is amended to read:
AB438,28,98 229.69 (4) Grant to the state land or other property, especially dedicated by the
9grant to use for a professional baseball park facilities.
AB438,57 10Section 57. 229.695 of the statutes is created to read:
AB438,28,17 11229.695 Obligations of certain political subdivisions. Beginning in 2024,
12annually, no later than July 1, a county within a district's jurisdiction shall deposit
13$5,000,000 into the baseball park facilities improvement segregated fund under s.
14229.687 and each 1st class city within a district's jurisdiction shall deposit
15$2,500,000 into the baseball park facilities improvement segregated fund under s.
16229.687. This section does not apply after December 31, 2050, or after the aggregate
17amount of deposits under this section equals $202,500,000, whichever is earlier.
AB438,58 18Section 58. 229.71 of the statutes is amended to read:
AB438,29,2 19229.71 Dissolution of a district. Subject Upon or after the expiration or
20termination of all lease arrangements between the district and a professional
21baseball team with respect to the baseball park facilities, and subject
to providing
22for the payment of its bonds, including interest on the bonds, and the performance
23of its other contractual obligations, a district may be dissolved by the action of the
24district board. If the district is dissolved under this section or by action of the
25legislature
, the property of the district shall be transferred to the counties in the

1jurisdiction, based on the tax revenues derived from each county, as determined by
2the secretary of administration
state.
AB438,59 3Section 59. 229.75 (3) of the statutes is amended to read:
AB438,29,114 229.75 (3) Bonds issued by the district shall be secured only by the district's
5interest in any baseball park facilities, including any interest in a lease with the
6department of administration under s. 16.82 (7); by income from these facilities; by
7proceeds of bonds issued by the district and other amounts placed in a special
8redemption fund and investment earnings on such these amounts; and by the taxes
9imposed by the district under subch. V of ch. 77, 2021 stats. The district may not
10pledge its full faith and credit on the bonds and the bonds are not a liability of the
11district.
AB438,60 12Section 60. 229.76 of the statutes is amended to read:
AB438,29,22 13229.76 State pledge. The state pledges to and agrees with the bondholders,
14and persons that enter into contracts with a district under this subchapter, that the
15state will not limit or alter the rights and powers vested in a district by this
16subchapter, including the rights and powers under s. 229.68 (15) power to obtain a
17loan from the department of administration upon the request of the district under
18s. 16.09 (5)
, before the district has fully met and discharged the bonds, and any
19interest due on the bonds, and has fully performed its contracts, including any lease
20agreement with a professional baseball team with respect to baseball park facilities,

21unless adequate provision is made by law for the protection of the bondholders or
22those entering into contracts with a district.
AB438,61 23Section 61. 229.80 of the statutes is created to read:
AB438,30,2 24229.80 Reporting. The district shall provide on an ongoing basis to the
25department of administration, the legislative fiscal bureau, and the legislative audit

1bureau project reports relating to all baseball park facilities and all financial reports
2of the district.
AB438,62 3Section 62. 341.14 (6r) (b) 13. b. of the statutes is amended to read:
AB438,30,134 341.14 (6r) (b) 13. b. Until the date on which the local professional baseball
5park district board makes a certification to the department under s. 229.685 (2), the
6remainder after crediting the appropriation account as provided in subd. 13. a. shall
7be credited to the appropriation account under s. 20.835 (4) (gb). After the date on
8which the local professional baseball park district board makes a certification to the
9department under s. 229.685 (2), the
The remainder after crediting the
10appropriation account as provided in subd. 13. a. shall be credited to the
11appropriation account under s. 20.395 (5) (ij). The department of transportation shall
12identify and record the percentage of moneys that are attributable to each
13professional baseball team represented by a plate under par. (f) 60.
AB438,63 14Section 63. Nonstatutory provisions.
AB438,30,1515 (1) Professional baseball park district board transition.
AB438,30,1816 (a) Notwithstanding s. 229.66, the terms of all existing members of a district
17board of a professional baseball park district created under subch. III of ch. 229
18expire on the effective date of this paragraph.
AB438,30,2219 (b) Not later than 30 days after the effective date of this paragraph, each
20appointing authority under s. 229.66 (2) shall appoint the specified members of the
21district board of a professional baseball park district created under subch. III of ch.
22229.
AB438,31,223 (2) Professional baseball park district name. Notwithstanding s. 229.66 (7),
24at its first meeting following the appointments under sub. (1) (b ), a district board may

1rename the professional baseball park district created under subch. III of ch. 229
2that the district board governs.
AB438,31,83 (3) Employees of a professional baseball park district. Not later than 90 days
4after the first meeting of the district board of a professional baseball park district
5created under subch. III or ch. 229 occurring after the effective date of this
6subsection, the board shall affirmatively determine whether to continue or
7discontinue the employment of each individual employed on the effective date of this
8subsection by the district.
AB438,64 9Section 64. Effective dates. This act takes effect on the day after publication,
10except as follows:
AB438,31,1211 (1) The treatment of s. 77.707 (2) and the repeal of s. 77.707 (1) take effect on
12January 1, 2025.
AB438,31,1313 (2) The treatment of s. 79.037 (2) (intro.), (3), and (4) take effect on July 1, 2024.
AB438,31,1414 (End)
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