1999 Wisconsin Act 150

66.0711 (title) Discount on contract price cash payments for public improvements.

150,508 Section 508. 66.54 (4) of the statutes is renumbered 66.0711 (2) and amended to read:

66.0711 (2) Every bid hereafter received for any public improvement which is not to be paid wholly in cash shall contain a provision that all payments made in cash by the municipality local governmental unit as provided by contract or made on special assessments as hereinafter provided shall be are subject to a specified rate of discount. The municipal treasurer of the local governmental unit shall issue a receipt for every such payment made on any special assessment, stating the date and amount of the cash payment, the discount and the total credit including such the discount, on a specified special assessment or assessments. The treasurer shall on the same day deliver a duplicate of such the receipt to the clerk, who shall credit the specified assessments accordingly. All moneys so received shall be paid to the contractor as provided by the contract.

150,509 Section 509. 66.54 (5) of the statutes is renumbered 66.0713 (9) and amended to read:

66.0713 (9) Payment by municipality local governmental unit. Whenever any such If a public improvement has been paid for by the municipality local governmental unit, contractor's certificates as provided for in under sub. (6), or (2), general obligation-local improvement bonds as provided for in sub. (9) under s. 67.16, or special assessment B bonds as provided for in under sub. (10) (4) may be issued to the municipality local governmental unit as the owner thereof of the certificates or bonds. All of the provisions of subs. (6), (9) and (10) (2) and (4) and s. 67.16 applicable to the contractor or to the owner of such the contractor's certificates or to such, the general obligation-local improvement bonds or to such the special assessment B bonds shall be deemed to include the municipality local governmental unit which has paid for such the improvement and to which such the contractor's certificates, general obligation-local improvement bonds or special assessment B bonds have been issued, except as otherwise provided in this section otherwise provided.

150,510 Section 510. 66.54 (6) (title) of the statutes is renumbered 66.0713 (2) (title).

150,511 Section 511. 66.54 (6) (a) and (b) of the statutes are renumbered 66.0713 (2) (a) and (b) and amended to read:

66.0713 (2) (a) Whenever any If a public improvement has been made and has been accepted by the governing body of the municipality local governmental unit, it may cause to be issued issue to the contractor for such the public improvement, a contractor's certificate as to each parcel of land against which special assessments have been levied for the unpaid balance of the amount chargeable thereto to the parcel, describing each parcel. Such The certificate shall be substantially in the following form:

$.... No. ....

(name of municipality local governmental unit)

Contractor's certificate

For construction of ....

(name of municipality local governmental unit)

Issued pursuant to

150,66 Section 66.54 (6) 66.0713 (2), Wis. Stats.

We, the undersigned officers of the (name of municipality), hereby local governmental unit), certify that (name and address of contractor) has performed the work of constructing .... in .... benefiting the following premises, to wit: (insert legal description) in the (name of municipality local governmental unit) .... County, Wisconsin, pursuant to a contract entered into by said (name of municipality local governmental unit) with the said .... (name of contractor), dated ...., and that .... entitled to the sum of .... dollars, being the unpaid balance due for said the work chargeable to the property hereinabove described above.

Now, therefore, If the said sum shall unpaid balance due is not be paid to the treasurer of (name of municipality local governmental unit) before the first day of the following December, next, the same that amount shall be extended upon the tax roll of the (name of municipality local governmental unit) against the property above described as listed therein in the tax roll, and collected for, as provided by law.

This certificate is transferable by indorsement but such an assignment or transfer shall be by indorsement is invalid unless the same shall be recorded in the office of the clerk of the (name of municipality local governmental unit) and the fact of such the recording is indorsed on this certificate. The holder of this certificate shall have has no claim upon the (Name of municipality) in any event local governmental unit), except from the proceeds of the special assessments levied for said the work against the above described land.

This certificate shall bear interest from its date to the following January 1 next succeeding.

Given under our hands at (name of municipality local governmental unit), this .... day of ...., .... (year)

.... ....

(Mayor, President, Chairperson)

Countersigned:

.... ....

Clerk, (name of municipality local governmental unit)

Assignment record

Assigned by .... .... (Original Contractor) to .... .... (Name of Assignee) of .... (Address of Assignee) .... .... (Date and signature of clerk)

(b) Such certificate shall in no event be a municipal A contractor's certificate is not a liability of a local governmental unit and shall so state in boldface type printed on the face thereof of the certificate. Upon issuance of said a certificate, the clerk of the municipality local governmental unit shall at once immediately deliver to the municipal treasurer of the local governmental unit a schedule of each such certificate showing the date, amount, number, date of maturity, person to whom issued and parcel of land against which the assessment is made. The treasurer shall thereupon notify, by mail, the owner of said the parcel, as the same owner appears on the last assessment roll, that payment is due on said the certificate at the office of said the treasurer, and if such the owner shall pay such pays the amount or part thereof so due, said the clerk shall cause the same to be paid pay that amount to the registered holder of said the certificate, and shall indorse such the payment on the face of said the certificate and on the clerk's record thereof of the certificate. The clerk shall keep a record of the names of the persons, firms or corporations to whom such contractor's certificates shall be are issued and of the assignees thereof of certificates when the fact of assignment is made known to such the clerk. Assignments of such contractor's certificates shall be are invalid unless recorded in the office of the clerk of the municipality local governmental unit and the fact of such recording be is indorsed on said the certificate. Upon final payment of the certificate, the same certificate shall be delivered to the treasurer of the municipality local governmental unit and by the treasurer delivered to such the clerk. On the first of each month, to and including December 1, the treasurer shall certify to the clerk a detailed statement of all payments made on such certificates.

150,512 Section 512. 66.54 (6) (c) of the statutes is renumbered 66.0713 (10) and amended to read:

66.0713 (10) After the expiration of 90 days from the date of such a contractor's certificate or any general obligation-local improvement bond or special assessment B bond hereinafter provided for, the same shall be certificate or bond is conclusive evidence of the legality of all proceedings up to and including the issue thereof of the certificate or bond and prima facie evidence of the proper construction of the improvement.

150,513 Section 513. 66.54 (6) (d) of the statutes is renumbered 66.0713 (2) (c) and amended to read:

66.0713 (2) (c) If said certificates are a contractor's certificate is not paid before December 1 in the year in which they are issued, the comptroller or clerk of the municipality local governmental unit shall thereupon include in the statement of special assessments to be placed in the next tax roll an amount sufficient to pay such certificates the certificate, with interest thereon from the date of such certificates the certificate to the following January 1 next succeeding, and thereafter the same proceedings for the collection of that amount shall be the same as the proceedings shall be had as in the case for the collection of general property taxes, except as otherwise provided in this section otherwise provided. Such . The delinquent taxes shall be returned to the county treasurer in trust for collection and not for credit. All moneys collected by the municipal treasurer of the local governmental unit or by the county treasurer and remitted to the municipal treasurer of the local governmental unit on account of such the special assessments shall be delivered to the owner of the contractor's certificate on demand.

150,514 Section 514 . 66.54 (7) of the statutes is renumbered 66.0715 (3), and 66.0715 (3) (title), (a) to (f), (fm) 2. b. and 3. and (g), as renumbered, are amended to read:

66.0715 (3) (title) Annual instalments of special assessments. (a) The governing body of any municipality a local governmental unit may provide that special assessments levied to defray the cost of any a public improvement or a project constituting part of a general public improvement, except sprinkling or oiling streets, may be paid in annual instalments.

(b) The first instalment shall include a proportionate part of the principal of the special assessment, determined by the number of instalments, together with interest on the whole assessment from such a date, not prior to before the date of the notice hereinafter provided for under par. (e), and to such that date, not later than December 31, in the year in which same the instalment is to be collected as shall be determined by the governing body, and each. Each subsequent instalment shall include a like the same proportion of the principal and one year's interest upon on the unpaid portion of such the assessment.

(c) The first instalment shall be entered in the first tax roll prepared after said the instalments shall have been determined as a special tax on the property upon which the special assessment was levied, and thereafter this tax shall be treated in all respects as any other municipal tax of a local governmental unit, except as otherwise provided in this section otherwise provided. One of the subsequent instalments. Each subsequent instalment shall be entered in a like manner and with like effect in each of the subsequent annual tax rolls thereafter until all instalments are levied.

(d) If any instalment so entered in the tax roll shall is not be paid to the municipal treasurer of the local governmental unit with the other taxes it shall be returned to the county as delinquent and accepted and collected by the county in the same manner as delinquent general taxes on real estate, except as otherwise provided in this section otherwise provided.

(e) Whenever If the governing body determines to permit any special assessments for any a local improvements improvement to be paid in instalments it shall publish a class 1 notice, under ch. 985. Such The notice shall be substantially in the following form:

INSTALMENT ASSESSMENT NOTICE

Notice is hereby given that a contract has been (or is about to be) let for (describe the improvement) and that the amount of the special assessment therefor for the improvement has been determined as to each parcel of real estate affected thereby and a statement of the same assessment is on file with the.... clerk; it is proposed to collect the same special assessment in.... instalments, as provided for by section 66.54 66.0715 of the Wisconsin statutes Statutes, with interest thereon at.... per cent percent per year; that all assessments will be collected in instalments as provided above provided except such assessments on property where the owner of the same shall file files with the.... clerk within 30 days from date of this notice a written notice that the owner elects to pay the special assessment on the owner's property, describing the same property, to the.... treasurer on or before the next succeeding following November 1, unless the election is revoked. If, after making such the election, said the property owner fails to make the payment to the.... treasurer, the.... clerk shall place the entire assessment on the next succeeding following tax roll.

Dated....

.... [Clerk of (name of municipality local governmental unit)]

(f) After the time for making an initial election to pay the special assessment in full under par. (e) expires, any the assessment may be paid in full before due, only upon the payment of such that portion of the interest to become due thereon as the governing body shall determine determines.

(fm) 2. b. Interest on that amount at the rate used by the municipality local governmental unit for instalment payments under par. (b), covering the period between the date that the initial election was made under par. (e) and the date on which the instalment is paid.

3. If the first instalment has not been paid by property owners under par. (c) before the date on which payment in full would have been due for a property owner who initially elected to pay the special assessment in one lump sum, the next property tax bill sent to a person who revoked his or her initial election to make a lump sum payment shall be an amount calculated under par. (b) plus interest on that amount at the rate used by the municipality local governmental unit for instalment payments under par. (b), covering the period between the date that the initial election was made under par. (e) and the date on which the instalment is paid.

(g) A schedule of the assessments and assessment instalments thereof shall be recorded in the office of the clerk of the municipality forthwith local governmental unit as soon as practicable.

150,515 Section 515. 66.54 (8) of the statutes is repealed.

Note: Repealed as unnecessary. Authority to issue general obligation-local improvement bonds and special assessment B bonds is provided independently in other provisions of renumbered s. 66.54.

150,516 Section 516. 66.54 (9) (title) of the statutes is renumbered 66.0713 (3) (title).

150,517 Section 517. 66.54 (9) (a) of the statutes is renumbered 66.0713 (3) and amended to read:

66.0713 (3) For the purpose of anticipating the collection of special assessments payable in instalments as provided in this section s. 66.0621 (3) and after such the instalments have been determined, the governing body may issue general obligation-local improvement bonds as more particularly described in this subsection under s. 67.16.

150,518 Section 518 . 66.54 (9) (b) and (c) of the statutes are renumbered 67.16 (2) (b) and (c) and amended to read:

67.16 (2) (b) The issue of such general obligation-local improvement bonds shall be in an amount not to exceed exceeding the aggregate unpaid special assessments levied for the public improvement which such that the issue is to finance. A single issue of such the bonds may be used to finance one or more different local improvements for which special assessments are authorized to be made in the same year. Sections 67.035, 67.06, 67.07, 67.08 and 67.11, where not contrary to the provisions of this section, shall be applicable to such apply to the bonds. Such The bonds shall mature in the same number of instalments as said the underlying special assessments, but the date of maturity of each instalment of said the bonds shall be fixed in October, November or December. The first maturity of such the bonds may be in the second 2nd year following the date of levy of the first instalment of the underlying special assessment. At the time of that the authorization of such bonds are authorized, the governing body of the municipality local governmental unit shall levy a tax upon all the taxable property of said municipality the local governmental unit sufficient to provide for the payment of the principal and interest of said the bonds at maturity, which. The tax levy shall be is irrepealable. All collections of instalments of the special assessments levied to pay for such the public improvement, either before or after delinquency thereof, shall be placed by the municipal treasurer of the local governmental unit in a special debt service fund, designated and identified for such the issue of such the bonds, and shall be used only for the payment of said the bonds and interest of such the issue. The annual instalment of the irrepealable tax levied for the purpose of payment of such the bonds and interest thereon, on the bonds shall be diminished by the amount on hand in such the debt service fund on November 1 of each tax levy year after deducting any unpaid interest and principal due in that year, and said the amount so on hand in said the fund shall be applied to the payment of the next succeeding instalment of principal and interest named on said the bonds. Any deficiency in the debt service fund for the payment of such the bonds and interest thereon at maturity shall be paid out of the general fund of the municipality local governmental unit and such the general fund shall be reimbursed from the collection of such that part of the aforesaid irrepealable tax as that is actually levied. Any surplus in said the debt service fund after all bonds and interest thereon are fully paid, shall be paid into the general fund.

(c) If any instalment of the aforesaid special assessment so that is entered in the tax roll shall is not be paid to the municipal treasurer of the local governmental unit with the other taxes, it shall be returned to the county treasurer as delinquent in trust for collection.

Note: Provisions of s. 66.54 relating to general obligation-local improvement bonds are relocated to ch. 67, relating to general obligation debt. See, also, Section 623 of this bill.

150,519 Section 519. 66.54 (10) and (11) of the statutes are renumbered 66.0713 (4) and (5) and amended to read:

66.0713 (4) Special assessment B bonds. (a) For the purpose of anticipating the collection of special assessments payable in instalments, as provided in this section s. 66.0715 (3) and after said the instalments have been determined, the governing body may issue special assessment B bonds payable out of the proceeds of such the special assessments as provided in this section. Such The bonds shall in no event be are not a general municipal liability of the local governmental unit.

(b) The issue of such special assessment B bonds shall be in an amount not to exceed exceeding the aggregate unpaid special assessments levied for the public improvement which such that the issue is to finance. A separate bond shall be issued for each separate assessment and said the bond shall be secured by and be payable out of only the assessment against which it is issued. Such The bonds shall mature in the same number of instalments as said the underlying special assessments. Such The bonds shall carry coupons equal in number to the number of special assessments, which. The coupons shall be detachable and entitle the owner thereof of the bond to the payment of principal and interest collected on the underlying special assessments. Such The bond shall be executed as provided in s. 67.08 (1) and may be registered under s. 67.09. Each bond shall include a statement that it is payable only out of the special assessment on the particular property against which it is issued and the purpose for which same the assessment was levied and such other provisions as that the governing body shall deem proper to insert inserts.

(ba) Payments of principal and interest shall conform as nearly as may be possible to the payments to be made on the instalments of the assessment, and the principal and interest to be paid on the bonds shall not exceed the principal and interest to be received, on the assessment. All collections of instalments of the special assessments levied to pay for such the public improvement, either before or after delinquency thereof, shall be placed by the municipal treasurer of the local governmental unit in a special debt service fund designated and identified for such the bond issue of bonds and shall be used only for the payment of said the bonds and interest of such the issue. Any surplus in said the debt service fund after all bonds and interest thereon are fully paid, shall be paid into the general fund.

(c) Such Special assessment B bonds must shall be registered in the name of the owner thereof on the records of the clerk of the municipality by which said bonds were local governmental unit that issued the bonds. Upon transfer of the ownership of such the bonds the fact of such transfer must shall be noted upon the bond and on the record of the clerk of such municipality the local governmental unit. Any transfer not so recorded shall be null and is void and the clerk of the municipality shall be entitled to local governmental unit may make payments of principal and interest to the owner of the bond as registered on the books of the municipality local governmental unit.

(d) Principal and interest collected on the underlying special assessments as well as and interest collected on the delinquent special assessments and on delinquent tax certificates issued therefor for the delinquent assessments shall be paid by the treasurer of the municipality local governmental unit out of the debt service fund created for the issue of such the bonds to the registered holder thereof of the bonds upon the presentation and surrender of the coupons due attached to said the bonds. If any instalment of the aforesaid special assessment entered in the tax roll shall is not be paid to the municipal treasurer of the local governmental unit with the other taxes, it shall be returned to the county treasurer as delinquent in trust for collection.

(e) If the tax certificate resulting from the delinquent special assessment is redeemed by any person, firm or corporation other than the county, the county treasurer shall pay to the municipality, local governmental unit the full amount received therefor for the tax certificate, including interest, and the municipal treasurer of the local governmental unit shall thereupon then pay the amount of such the remittance into a special debt service fund created for the payment of such the special assessment B bonds.

(5) Area grouping of Area-grouped special assessments assessment B bonds. (a) Whenever If the governing body determines to issue special assessment B bonds pursuant to subs. (9) and (10) under sub. (4), it may group the special assessments levied against benefited lands and issue such of the bonds against such the special assessments so grouped as a whole. All such of the bonds shall be equally secured by such the assessments without priority one over the other.

(b) The All of the following provisions shall be applicable apply to area-grouped special assessment B bonds issued under this section:

1. For the purpose of anticipating the collection of special assessments payable in instalments under this section and after said the instalments have been determined, the governing body may issue area-grouped special assessment B bonds payable out of the proceeds of such the special assessments as provided herein. Such under sub. (4). The bonds shall in no event be are not a general municipal liability of the local governmental unit.

2. The issue of such the bonds shall be in an amount not to exceed exceeding the aggregate unpaid special assessments levied for the public improvement or projects which such the issue is to finance. Such The bonds shall mature over substantially the same period of time in which the special assessment instalments are to be paid. Such The bonds shall be bearer bonds or may be registered bonds under s. 67.09. The bonds shall be executed as provided in s. 67.08 (1) and shall include a statement that they are payable only from the special debt service fund provided for in subd. 4. and a fund created under sub. (15) (7) for the collection and payment of such the special assessment and such any other provisions as that the governing body deems proper to insert.

4. All collections of principal and interest on the underlying special assessments and instalments thereof, either before or after delinquency and after issuance of a tax certificate under s. 74.57, shall be placed by the municipal treasurer of the local governmental unit in a special debt service fund created, designated and identified for the issue of such the bonds and used only for payment of said the bonds and interest thereon on the bonds to the holders of the bonds or coupons in accordance with the terms of the issue. Any surplus in the debt service fund, after all bonds and interest thereon on the bonds are fully paid, shall be paid into the general fund.

5. If the tax certificate is redeemed by any person other than the county, the county treasurer shall pay to the municipality local governmental unit the full amount received therefor for the certificate, including interest, and the municipal treasurer of the local governmental unit shall thereupon pay the amount of such the remittance into the special debt service fund created for the payment of such the bonds.

7. A holder of the bonds or of any coupons attached thereto shall have to the bonds has a lien against the special debt service fund created under subd. 4. for payment of said the bonds and interest thereon on the bonds and against any reserve fund created under sub. (15) (7) and may either at law or in equity protect and enforce such the lien and compel performance of all duties required by this section of the municipality local governmental unit issuing said the bonds.

150,520 Section 520 . 66.54 (12) (title) of the statutes is renumbered 66.0719 (title).

150,521 Section 521. 66.54 (12) of the statutes is renumbered 66.0719 (2) and amended to read:

66.0719 (2) If a special assessment is levied for any public improvement, any amount collected on that special assessment or received from the county shall be deposited in the general fund of the municipality local governmental unit if the payment for the improvement was made out of its general fund, deposited in the funds and accounts of a public utility established under s. 66.066 66.0621 (2) (c) if such the improvement was paid out of the proceeds of revenue obligations of the municipality local governmental unit or deposited in the debt service fund required for the payment of bonds or notes issued under ch. 67 if such the improvement was paid out of the proceeds thereof of the bonds or notes. That special assessment, when delinquent, shall be returned in trust for collection and the municipality shall have local governmental unit has the same rights as provided in sub. (9) (c) s. 66.0713 (3) (c).

150,522 Section 522. 66.54 (15) and (15m) of the statutes are renumbered 66.0713 (7) and (8) and amended to read:

66.0713 (7) Reserve fund for special assessment B bonds and refunding B bonds. If the governing body determines to issue special assessment B bonds under sub. (10) (4) or refunding B bonds under sub. (16) (6), it may establish in its treasury a fund to be designated as a reserve fund for the particular bond issue, to be maintained until such the obligation is paid or otherwise extinguished. Any surplus in the reserve fund after all the bonds have been paid or canceled shall be carried into the general fund of the municipal local governmental unit's treasury. The source of said the fund shall be established either from proceeds of the bonds, the general fund of the municipal local governmental unit's treasury or by the levy of an irrepealable and irrevocable general tax. Such The bonds shall in no event be are not a general municipal liability of the local governmental unit.

(8) Payment of B bonds from tax levy. Any municipality local governmental unit authorized to issue special assessment B bonds, in addition to the special assessments or bond proceeds or other sources, may appropriate funds out of its annual tax levy for the payment of the bonds. The payment of such the bonds out of funds from a tax levy, however, may not be construed as constituting an obligation of such municipality the local governmental unit to make any other such appropriation.

150,523 Section 523. 66.54 (16) of the statutes is renumbered 66.0713 (6) and amended to read:

66.0713 (6) Refunding B bonds. Any municipality A local governmental unit may issue refunding B bonds to refund any outstanding special assessment B bonds issued under sub. (10) or (11). These (4) or (5). The refunding B bonds shall be secured by and payable only from the special assessments levied to pay for the public improvements financed by the bonds to be refunded, and shall are not be a general municipal liability of the local governmental unit. If bonds issued under sub. (10) (4) are to be refunded, the provisions of sub. (10) (4) (b) to (e) shall apply to the refunding B bonds; if bonds issued under sub. (11) (5) are to be refunded, the provisions of sub. (11) (5) (b) shall apply to the refunding B bonds. If the governing body determines that it is necessary to amend the prior assessments in connection with the issuance of refunding B bonds under this section, it may reconsider and reopen the assessments under s. 66.60 66.0703 (10). The notice and hearing provided for under s. 66.60 66.0703 (10) may be waived under s. 66.60 (18) 66.0703 (7) (b) by the owners of the property affected. If the assessments are amended, the refunding B bonds shall be secured by and payable from the special assessments as amended. If the assessments are amended, all direct and indirect costs reasonably attributable to the refunding of the bonds may be included in the cost of the public improvements being financed. If the governing body determines to issue refunding B bonds, it may create a reserve fund for the issue under sub. (15) (7).

150,524 Section 524. 66.55 of the statutes is renumbered 66.0617.

150,525 Section 525. 66.60 (title) of the statutes is renumbered 66.0703 (title) and amended to read:

66.0703 (title) Special assessments and charges, generally.

150,526 Section 526. 66.60 (1), (2), (3) and (4) of the statutes are renumbered 66.0703 (1), (4), (5) and (6), and 66.0703 (1), (4), (5) (intro.), (c) (intro.) and 3. and (d) and (6), as renumbered, are amended to read:

66.0703 (1) (a) Except as provided in sub. (6m) s. 66.0721, as a complete alternative to all other methods provided by law, any city, town or village may, by resolution of its governing body, levy and collect special assessments upon property in a limited and determinable area for special benefits conferred upon such the property by any municipal work or improvement; and may provide for the payment of all or any part of the cost of the work or improvement out of the proceeds of such the special assessments.

(b) The amount assessed against any property for any work or improvement which does not represent an exercise of the police power shall may not exceed the value of the benefits accruing to the property therefrom, and for those representing. If an assessment represents an exercise of the police power, the assessment shall be upon a reasonable basis as determined by the governing body of the city, town or village.

(4) Prior to Before the exercise of any powers conferred by this section, the governing body shall declare by preliminary resolution its intention to exercise such the powers for a stated municipal purpose. Such The resolution shall describe generally the contemplated purpose, the limits of the proposed assessment district, the number of instalments in which the special assessments may be paid, or that the number of instalments will be determined at the hearing required under sub. (7), and direct the proper municipal officer or employe to make a report thereon. Such on the proposal. The resolution may limit the proportion of the cost to be assessed.

(5) (intro.) The report required by sub. (2) (4) shall consist of:

(c) (intro.) An Except as provided in par. (d), an estimate, as to each parcel of property affected, of:

3. The net amount of such the benefits over damages or the net amount of such the damages over benefits.

(d) A statement that the property against which the assessments are proposed is benefited, where if the work or improvement constitutes an exercise of the police power. In such case If this paragraph applies, the estimates required under par. (c) shall be replaced by a schedule of the proposed assessments.

(6) A copy of the report when completed shall be filed with the municipal clerk for public inspection. If property of the state may be subject to assessment under s. 66.64 66.0705, the municipal clerk shall file a copy of the report with the state agency which manages the property. If the assessment to the property of the state for a project, as defined under s. 66.64 66.0705 (2), is $50,000 or more, the state agency shall submit a request for approval of the assessment, with its recommendation, to the building commission. The building commission shall review the assessment and shall determine within 90 days of the date on which the commission receives the report if the assessment is just and legal and if the proposed improvement is compatible with state plans for the facility which is the subject of the proposed improvement. If the building commission so determines, it shall approve the assessment. No project in which the property of the state is assessed at $50,000 or more may be commenced and no contract on such the project may be let without approval of the assessment by the building commission under this subsection. The building commission shall submit a copy of its determination under this subsection to the state agency which that manages the property which is the subject of the determination.