SB77-SSA1,1481,1010
281.59
(3e) (title)
Clean water fund program expenditures.
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281.59
(3m) Land recycling loan program expenditures. (a) No moneys may
13be expended for the land recycling loan program in a biennium until the legislature
14reviews and approves, as part of the biennial budget act for the biennium, an amount
15of present value of the subsidy for the land recycling loan program that is specified
16for that biennium under par. (b) and is based on the amount included in the biennial
17finance plan under sub. (3) (a) 6e.
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(b) The amount of present value of the subsidy for the land recycling loan
19program that is approved by the legislature under this paragraph is as follows:
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1. Equal to $4,500,000 during the 1997-99 biennium.
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2. Equal to $1,000 for any biennium after the 1997-99 biennium.
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(c) The department of administration may allocate amounts approved under
23par. (b) as the present value of subsidies for financial assistance under the land
24recycling program.
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1(d) Using the amount approved under par. (b) as a base, the department of
2administration shall calculate the present value of the actual subsidy of each land
3recycling loan made for those projects in each biennium that are approved for
4financial assistance. The present value shall be discounted as provided under sub.
5(3) (a) 6e.
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281.59
(3s) Safe drinking water loan program expenditures. (a) No moneys
8may be expended for the safe drinking water loan program in a biennium until the
9legislature reviews and approves all of the following as part of the biennial budget
10act for the biennium:
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1. An amount of present value of the subsidy for the safe drinking water loan
12program that is specified for that biennium under par. (b) and is based on the amount
13included in the biennial finance plan under sub. (3) (a) 6m.
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2. The amount of public debt, authorized under s. 20.866 (2) (td), that the state
15may contract for the purposes of the safe drinking water loan program.
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(b) The amount of present value of the subsidy for the safe drinking water loan
17program that is approved by the legislature under this paragraph is as follows:
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1. Equal to $21,000,000 during the 1997-99 biennium.
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2. Equal to $1,000 for any biennium after the 1997-99 biennium.
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(c) The department of administration may allocate amounts approved under
21par. (b) as the present value of subsidies for financial assistance under the safe
22drinking water program.
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(d) Using the amount approved under par. (b) as a base, the department of
24administration shall calculate the present value of the actual subsidy of each safe
25drinking water loan or grant made for those projects in each biennium that are
1approved for financial assistance. The present value shall be discounted as provided
2under sub. (3) (a) 6m.
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281.59
(4) (am) Deposits, appropriations or transfers to the
clean water 5environmental improvement fund for the purposes
specified in s. 25.43 (3) of the
6clean water fund program may be funded with the proceeds of revenue obligations
7issued subject to and in accordance with subch. II of ch. 18 or in accordance with
8subch. IV of ch. 18 if designated a higher education bond.
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281.59
(4) (c) The building commission may pledge any portion of revenues
11received or to be received in the fund established in par. (b) or the
clean water 12environmental improvement fund to secure revenue obligations issued under this
13subsection. The pledge shall provide for the transfer to the
clean water 14environmental improvement fund of all pledged revenues, including any interest
15earned on the revenues, which are in excess of the amounts required to be paid under
16s. 20.320 (1) (c) and (u) for the purposes
specified in s. 25.43 (3) of the clean water fund
17program. The pledge shall provide that the transfers be made at least twice yearly,
18that the transferred amounts be deposited in the
clean water environmental
19improvement fund and that the transferred amounts are free of any prior pledge.
SB77-SSA1, s. 3564
20Section
3564. 281.59 (9) (a), (am) and (b) (intro.) and 1. of the statutes are
21amended to read:
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281.59
(9) (a) A loan approved under
this section and s. 281.58 the clean water
23fund program, the safe drinking water loan program or the land recycling loan
24program shall be for no longer than 20 years, as determined by the department of
25administration, be fully amortized not later than 20 years after the original date of
1the note, and require the repayment of principal and interest, if any, to begin not later
2than 12 months after the expected date of completion of the project that it funds, as
3determined by the department of administration.
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(am) The department of administration, in consultation with the department,
5may establish those terms and conditions of a financial assistance agreement that
6relate to its financial management, including what type of municipal obligation, as
7set forth under s. 66.36, is required for the repayment of the financial assistance.
8Any terms and conditions established under this paragraph by the department of
9administration shall comply with the requirements of this section and s. 281.58
,
10281.60 or 281.61. In setting
such the terms and conditions, the department of
11administration may consider factors that the department of administration finds are
12relevant, including the type of
municipal obligation evidencing the loan, the pledge
13of security for the
municipal obligation and the
municipality's applicant's 14creditworthiness.
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(b) (intro.) As a condition of receiving financial assistance under
this section
16and s. 281.58, a municipality the clean water fund program, the safe drinking water
17loan program or the land recycling loan program, an applicant shall do all of the
18following:
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1. Pledge the security, if any, required by the rules promulgated by the
20department of administration under this section and s. 281.58
, 281.60 or 281.61.
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281.59
(11) Financial assistance payments. (a) The department of natural
23resources and the department of administration may enter into a financial
24assistance agreement with
a municipality an applicant for which the department of
25administration has allocated subsidy under s. 281.58 (9m)
, 281.60 (8) or 281.61 (8)
1if the
municipality applicant meets the conditions under sub. (9)
and s. 281.58 (14) 2and the other requirements under this section and s. 281.58
, 281.60 or 281.61.
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(am) The department of administration shall make the financial assistance
4payments to
a municipality which an applicant that has entered into a financial
5assistance agreement under par. (a) or to the
municipality's applicant's designated
6agent.
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(b) If a municipality fails to make a principal repayment or interest payment
8after its due date, the department of administration shall place on file a certified
9statement of all amounts due under this section and s. 281.58
, 281.60 or 281.61.
10After consulting the department, the department of administration may collect all
11amounts due by deducting those amounts from any state payments due the
12municipality or may add a special charge to the amount of taxes apportioned to and
13levied upon the county under s. 70.60. If the department of administration collects
14amounts due, it shall remit those amounts to the fund to which they are due and
15notify the department of that action.
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(c) The department of administration may retain the last payment under a
17financial assistance agreement until the department of natural resources and the
18department of administration determine that the project is completed and meets the
19applicable requirements of this section and s. 281.58
, 281.60 or 281.61 and that the
20conditions of the financial assistance agreement are met.
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281.59
(13m) Legislative moral obligation. The building commission may, at
23the time the loan is made, by resolution designate a loan made under
this section and
24s. 281.58 the clean water fund program as one to which this subsection applies. If
25at any time the payments received or expected to be received from a municipality on
1any loan so designated are pledged to secure revenue obligations of the state issued
2pursuant to subch. II of ch. 18 and are insufficient to pay when due principal of and
3interest on such loan, the department of administration shall certify the amount of
4such insufficiency to the secretary of administration, the governor and the joint
5committee on finance. If the certification is received by the secretary of
6administration in an even-numbered year before the completion of the budget under
7s. 16.43, the secretary of administration shall include the certified amount in the
8budget compilation. In any event, the joint committee on finance shall introduce in
9either house, in bill form, an appropriation of the amount so requested for the
10purpose of payment of the revenue obligation secured thereby. Recognizing its moral
11obligation to do so, the legislature hereby expresses its expectation and aspiration
12that, if ever called upon to do so, it shall make the appropriation.
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281.59
(13s) Powers. The department of administration may audit, or contract
15for audits of, projects receiving financial assistance under
this section and s. 281.58 16the clean water fund program, the safe drinking water loan program and the land
17recycling loan program.
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281.59
(14) Rules. The department of administration shall promulgate rules
20that are necessary for the proper execution of this section and of its responsibilities
21under
s. ss. 281.58
, 281.60 and 281.61.
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23281.60 Land recycling loan program. (1) Definitions. In this section:
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(a) "Eligible applicant" means an individual, corporation, partnership,
25association, commission or political subdivision.
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1 (am) "Landfill" has the meaning given in s. 289.01 (20).
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(b) "Land recycling loan program" means the program administered under this
3section with financial management provided under s. 281.59.
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(c) "Market interest rate" means the interest at the effective rate of a revenue
5obligation issued by this state to fund a loan or portion of a loan for a clean water fund
6program project under s. 281.58.
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(d) "Political subdivision" means a city, village, town or county.
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(e) "Site or facility" has the meaning given in s. 292.35 (1) (f).
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9(2) General. The department and the department of administration may
10administer a program to provide financial assistance to eligible applicants for
11projects to remedy environmental contamination of sites or facilities at which
12environmental contamination has affected groundwater or surface water or
13threatens to affect groundwater or surface water. The department and the
14department of administration may provide financial assistance under this section to
15an eligible applicant only if the eligible applicant owns the contaminated site or
16facility. The department and the department of administration may not provide
17financial assistance under this section to remedy environmental contamination at
18a site or facility that is not a landfill if the eligible applicant caused the
19environmental contamination.
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20(2r) Methods of providing financial assistance. The following methods of
21providing financial assistance may be used under the land recycling loan program:
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(a) Making loans below the market interest rate for projects described in sub.
23(2).
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1(b) Purchasing or refinancing the obligation of an eligible applicant if the
2obligation was incurred to finance the cost of a project described in sub. (2) and the
3obligation was initially incurred after May 17, 1988.
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(c) Guaranteeing, or purchasing insurance for, obligations incurred to finance
5the cost of projects described in sub. (2) if the guarantee or insurance will provide
6credit market access or reduce interest rates.
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(d) Providing payments to the board of commissioners of public lands to reduce
8principal or interest payments, or both, on loans made to political subdivisions under
9subch. II of ch. 24 by the board of commissioners of public lands for projects that are
10eligible for financial assistance under the land recycling loan program.
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11(3) Notice of intent to apply. (a) An eligible applicant shall submit notice of
12its intent to apply for financial assistance under the land recycling loan program. An
13eligible applicant shall submit the notice at least 6 months before the beginning of
14the fiscal year in which it will request to receive funding. The notice shall be in a
15form prescribed by the department and the department of administration.
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(b) The department may waive par. (a) upon the written request of an eligible
17applicant.
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18(5) Application. After submitting a notice of intent to apply under sub. (3) (a)
19or obtaining a waiver under sub. (3) (b), an eligible applicant shall submit an
20application for land recycling loan program financial assistance to the department.
21The eligible applicant shall submit the application before the April 30 preceding the
22beginning of the fiscal year in which the eligible applicant is requesting to receive the
23financial assistance. The application shall be in the form and include the
24information required by the department and the department of administration. An
25eligible applicant may not submit more than one application per project per year.
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1(6) Priority list. The department shall establish a priority list that ranks each
2land recycling loan program project. The department shall promulgate rules for
3determining project rankings based on the potential of projects to reduce
4environmental pollution and threats to human health and, for sites and facilities
5that are not landfills, the extent to which projects will prevent the development of
6undeveloped land by making land available for redevelopment after a cleanup is
7conducted. Before the department establishes the priority list, the department shall
8consider the recommendations of the department of administration and the
9department of commerce.
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10(7) Approval of application. The department shall approve an application
11received under sub. (5) after all of the following occur:
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(a) The project is ranked on the priority list under sub. (6).
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(b) The department determines that the project meets the eligibility
14requirements under this section.
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(c) The department of administration determines that the eligible applicant
16will meet the requirements of s. 281.59 (9) (b).
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(d) The legislature has approved an amount under s. 281.59 (3m) (b) for the
18biennium.
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19(8) Funding list; allocation of funding. (a) The department shall establish
20a funding list for each fiscal year that ranks projects of eligible applicants that
21submit approvable applications under sub. (5) before the April 30 preceding the
22beginning of the fiscal year in the same order that they appear on the priority list
23under sub. (6). If sufficient funds are not available to fund all approved applications
24for financial assistance, the department of administration shall allocate funding to
1projects that are approved under sub. (7) in the order that they appear on the funding
2list, except as follows:
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1. The department of administration may not allocate more than 40% of the
4available funds in each fiscal year to projects to remedy contamination at landfills.
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2. In any biennium, no eligible applicant may receive more than 25% of the
6amount established under s. 281.59 (3m) (b) for that biennium.
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(b) In allocating subsidy under this subsection, the department of
8administration shall adhere to the amount approved by the legislature for each
9biennium under s. 281.58 (3m) (b).
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10(8m) Conditions of financial assistance. As a condition of receiving financial
11assistance under the land recycling loan program, an eligible applicant shall do all
12of the following:
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(a) Establish a dedicated source of revenue for the repayment of the financial
14assistance.
SB77-SSA1,1490,1715(b) Comply with those provisions of
33 USC 1381 to
1387, this chapter, and the
16rules and regulations promulgated under those provisions, that the department
17specifies.
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(c) Allow access to the project by representatives of the department for the
19purpose of making inspections.
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20(9) Financial assistance commitments. The department and the department
21of administration may, at the request of an eligible applicant, issue a notice of
22financial assistance commitment after the eligible applicant's application for land
23recycling loan program financial assistance has been approved and funding has been
24allocated under sub. (8) for the eligible applicant's project. The notice of financial
25assistance commitment shall specify the conditions that the eligible applicant must
1meet to secure financial assistance and shall include the estimated repayment
2schedules and other terms of financial assistance.
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3(10) Deadline for closing. If funding is allocated to a project under sub. (8)
4for a loan and the loan is not closed before April 30 of the year following the year in
5which funding is allocated, the department of administration shall release the
6funding allocated to the project.
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7(11) Loan interest rates. The interest rate on a land recycling loan program
8loan shall be 55% of market interest rate.
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9(11m) Service fee. The department and the department of administration
10shall jointly charge and collect an annual service fee for reviewing and acting upon
11land recycling loan program applications and servicing financial assistance
12agreements. The fee shall be in addition to interest payments at the rate under sub.
13(11). For the 1997-99 fiscal biennium, the service fee shall be 0.5% of the loan
14balance. Fee amounts for later biennia shall be established in the biennial finance
15plan under s. 281.59 (3) (a) 8. The department and the department of administration
16shall specify in the biennial finance plan a fee designed to cover the costs of reviewing
17and acting upon land recycling loan program applications and servicing financial
18assistance agreements.
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19(12) Sale of site or facility. (a) An eligible applicant may not sell a site or
20facility, or portion of a site or facility, for which the eligible applicant has received a
21loan under this section, while the loan is outstanding, for less than fair market value.
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(b) If an eligible applicant sells a site or facility, or portion of a site or facility,
23for which the eligible applicant has received a loan under this section, the eligible
24applicant shall do the following:
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11. If the sale proceeds are less than or equal to the remaining loan balance, pay
2the sale proceeds to the department of administration to repay all or a portion of the
3loan.
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2. If the sale proceeds are greater than the remaining loan balance but less than
5or equal to the cost of the land plus the cost of the cleanup, pay an amount equal to
6the remaining loan balance to the department of administration and retain the
7remainder of the sale proceeds.
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3. If the sale proceeds are greater than the cost of the land plus the cost of the
9cleanup, pay to the department of administration an amount equal to the remaining
10loan balance plus the lesser of 75% of the amount by which the sale proceeds exceed
11the cost of the land plus the cost of the cleanup or the amount of subsidy incurred for
12the project and retain the remainder of the sale proceeds.
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13(13) Duties of the department. The department shall do all of the following:
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(a) Seek approval of the federal environmental protection agency for the use
15of funds under
33 USC 1381 to
1387 for the land recycling loan program.
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(b) Promulgate rules establishing eligibility criteria for applicants and projects
17under this section.
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(c) Promulgate rules that are necessary for the execution of its responsibilities
19under the land recycling loan program.
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(d) Cooperate with the department of administration in administering the land
21recycling loan program.
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(e) Submit a biennial budget request under s. 16.42 for the land recycling loan
23program.
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(f) Have the lead role with the federal environmental protection agency
25concerning the land recycling loan program.
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1(g) Have the lead role with eligible applicants in providing land recycling loan
2program information, and cooperate with the department of administration in
3providing that information to eligible applicants.
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(h) Periodically inspect land recycling loan program projects to determine
5project compliance with the requirements of this section.
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(i) By May 1 of each even-numbered year, prepare and submit to the
7department of administration a biennial needs list that includes all of the following
8information:
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1. A list of land recycling loan program projects that the department estimates
10will apply for financial assistance under the land recycling loan program during the
11next biennium.