c. The special fund revenues that are set aside for the payment of the principal and interest of the special fund obligations would be paid into a separate fund in the treasury or in an account maintained by a trustee to be identified as "the . . . redemption fund." All moneys in the fund would be irrevocably appropriated and expended in sums sufficient only for the payment of principal and interest and premiums, if any, due upon redemption of the obligations under which the redemption fund was created. Moneys in the redemption funds could be commingled only for the purpose of investment with other public funds. The moneys could be invested only in direct obligations of the United States. All such investments would be the exclusive property of the fund and all earnings on or income from such investments would be credited to the fund.
d. If any surplus accumulates in any of the redemption funds, subject to contract rights vested in the owners of special fund obligations security, it would be required to be paid over to the treasury.
e. The Commission could provide in the authorizing resolution for special fund obligations, or by subsequent action, all things necessary to carry out the issuing of special obligations. Any authorizing resolution would constitute a contract with the owners of any special fund obligations issued pursuant to the resolution. An authorizing resolution could include provisions that the Commission deems are needed to increase the marketability of the obligations or to protect the security interests of the holders of the obligations. These provisions could be related to the employment of consultants, records and accounts, establishment of reserve or other funds, the issuance of additional obligations, the deposit of special obligation proceeds or revenues of the special fund in trust, including the appointment of depositories or trustees and the defeasance of obligations
Termination of Funds. If, after all outstanding related revenue obligations have been paid or payment provided for, any moneys that remain in an enterprise or special obligation fund, including those held by a trustee, would be paid over to the treasury and the fund would be closed.
Refunding Bonds. Specify that the provisions relating to enterprise obligations and special fund obligations would apply to refunding bonds, to the extent they are not inconsistent with current law governing refunding bonds.
Existing Obligations. Extend the provisions and requirements associated with enterprise obligations and special fund obligations to existing revenue obligations and their associated program purposes. Under current law, the clean water fund and the Departments of Transportation and Veterans Affairs use revenue obligations for program purposes.
Other Changes. Clarify that references to public debt under the revenue obligation statutes would refer to revenue obligations and that references to evidences of indebtedness would refer to evidences of revenue obligations. Modify current law references to bond holders, to instead refer to owners of bonds.
[Bill Sections: 122 thru 159, 994, 1825 , 1855 and 2510]
3. REVENUE OBLIGATIONS FOR PECFA
Governor: Authorize the Building Commission to issue revenue obligations, to be paid from petroleum inspection fees deposited in the petroleum inspection fund. The proceeds of the obligations would be used to fund the payment of claims under the Petroleum Environmental Cleanup Fund Award (PECFA) program. Revenue obligations could not exceed $450,000,000 in principal amount. In addition to this $450,000,000 amount, the Building Commission could issue revenue obligations to fund or refund outstanding revenue obligations, to pay issuance or administrative expenses, to make deposits to reserve funds or to pay accrued or capitalized interest. The Commission would be authorized to issue these obligations when it reasonably appears to the Commission that the obligations can be fully paid on a timely basis from monies received or anticipated to be received.
Specify that the revenue obligations would be special fund obligations, which is a type of revenue obligation created under the bill. For purposes of this debt issuance, designate the PECFA program as a special fund program and specify that the petroleum inspection fund would be a special fund. Create a legislative finding that a nexus exists between the PECFA program and the petroleum inspection fund in that fees imposed on users of petroleum are used to remedy environmental damage caused by petroleum storage. Specify that deposits, appropriations or transfers to the petroleum inspection fund for the PECFA program may be funded with the proceeds of revenue obligations. Unless expressly provided in the authorizing resolution or in other agreements with the owners of the revenue obligations, each issue of revenue obligations for the PECFA program would be on a parity with any other revenue obligations and issued in accordance with the revenue obligations requirements outlined in the statutes, including those provisions created under the bill.
Establish a moral obligation pledge whereby the Legislature would express its expectation and aspiration that, if the Legislature reduces the rate of the petroleum inspection fee and if the funds in the petroleum inspection fund are insufficient to pay the principal and interest on the revenue obligations, the Legislature would make an appropriation from the general fund sufficient to pay the principal and interest on the revenue obligations.
[Bill Section: 1994]
BUILDING PROGRAM
Budget Change Item
1. 1999-01 ENUMERATED PROJECTS
BR $3,000,000
Governor: Provide $3,000,000 in self amortizing general obligation bonding for the construction of an aquaculture demonstration facility at Ashland which would be operated by the University of Wisconsin System. Enumerate the facility in the 1999-01 state building program as a UW System facility. The program revenue that would pay debt service on the bonds would be derived from tribal gaming revenue transferred to a UW System annual, sum certain debt service appropriation that would be created for this purpose, from a new appropriation under the Department of Administration.
[Bill Sections: 293, 549, 628, 629, 643 and 9107(1)]
CHILD ABUSE AND NEGLECT PREVENTION BOARD
Budget Change Items
1. STANDARD BUDGET ADJUSTMENTS
PR - $11,000
Governor: Reduce the Board's base budget by $5,500 annually to reflect: (a) the removal of noncontinuing items (-$11,600 annually); (b) full funding of salaries and fringe benefits ($5,400 annually); (c) full funding of charges for financial services ($300 annually); and (d) full funding of rental costs ($400 annually).
2. MISCELLANEOUS ADJUSTMENTS
PR $26,300
Governor: Provide $6,600 in 1999-00 and $19,700 in 2000-01 to fund: (a) pay plan increases ($5,400 in 1999-00 and $10,800 in 2000-01); (b) health insurance premiums ($1,200 in 1999-00 and $1,800 in 2000-01); and (c) the 27th pay period in 2000-01 ($7,100 in 2000-01).
3. CHILDREN FIRST LICENSE PLATE REVENUE
SEG $ 110,000
Governor: Provide $30,000 in 1999-00 and $80,000 in 2000-01 to reflect reestimates of the amount of funding available from the Children's Trust Fund to support the Board's activities due to revenue from fees collected from the sale of a special license plate. Further, authorize the Board to expend all moneys credited to the Children's Trust Fund from fees collected from the sale of the license plate in order to support: (a) grants to prevent child abuse and neglect; (b) the actual and necessary operating costs of the Board; and (c) statewide projects to prevent child abuse and neglect. Require the Board to use revenue from the sale of the special plate, like other moneys deposited to the Trust Fund, in accordance with the wishes of the donor. Further, specify that the license plate will have the words "Celebrate Children" on it, rather than "Children First" as required under current law.
Under current law, the Board is required to solicit and accept contributions, grants, gifts and bequests for the Children's Trust Fund. Further, with the exception of fees collected from the sale of the special license plate, the Board is authorized to expend funds in the Trust Fund in accordance with the wishes of the donor to award grants, fund the actual and necessary operating costs of the Board and for statewide projects to prevent child abuse and neglect. All fees collected from the sale of the plate are required to accumulate indefinitely in the Trust Fund.
[Bill Sections: 369, 1199, 1200 and 2729]
CIRCUIT COURTS
Budget Change Items
1. STANDARD BUDGET ADJUSTMENTS
Funding Positions
GPR $6,219,800 13.00
Governor: Provide $3,109,900 and 13.0 positions annually for the following: (a) full funding of salaries and fringe benefits ($3,091,300 and 13.0 positions annually); (b) full funding of financial services charges ($3,100 annually); and (c) fifth week vacation as cash ($15,500 annually). Full funding of salaries and fringe benefits includes: (a) circuit court judges' 1997-99 pay increases not reflected in the adjusted base; (b) funding and 13.0 positions for the six new circuit court branches created in 1997 Act 203, effective August 1, 1999; and (c) other full funding adjustments.
2. REPEAL OF COURT INTERPRETER FEES APPROPRIATION
PR - $90,000
Governor: Delete $45,000 annually and repeal the program revenue appropriation for court interpreter fee reimbursement to counties. This appropriation was created in 1997 Act 27 to supplement GPR funds with program revenues from certain court fees deposited to the Circuit Court Automation Program (CCAP). According to the Director of State Courts, program revenues have been insufficient to support this appropriation and expenditure authority, therefore, is not being used. Under the bill, county reimbursement for court interpreter fees would continue to be funded through a GPR appropriation of $188,800 annually. A technical correction to the CCAP appropriation is required to properly reflect this repeal.
[Bill Sections: 599 and 605]
3. INCREASE IN RECOVERABLE CIVIL ACTION COSTS
Governor: Increase the amount of attorney fees and costs that a successful litigant in a civil action can recover from the opposing party, beginning with actions commenced on the effective date of the bill. Currently, a successful civil litigant may recover attorneys fees according to the following schedule: (a) up to $100 if the amount recovered or the value of the property is $1,000 or more; (b) $50 if the amount recovered or the property value is $500 to $999.99; (c) $25 if the amount recovered or the property value is $200 to $499.99; (d) $15 if the amount recovered or the property value is under $200; and (e) $15 to $100 in cases that do not involve money damages or property. Under the Governor's recommendation, the recoverable attorneys fees would increase as follows: (a) up to $500 when the amount recovered or the property value is equal to or greater than $5,000; (b) up to $300 when the amount recovered or the property value is $1,000 to $4,999.99; (c) up to $100 when the amount recovered or the property value is less than $1,000; and (d) up to $500 in cases that do not involve money damages or property. The bill also increases the recoverable amount for costs incurred for motions from $50 to $300 and for expert witness fees from $100 to $300 for each expert witness that testifies. Under current law, a successful litigant may recover up to $50 for each of the following costs: (a) certified copies of public records; (b) postage; (c) telegraphing; (d) telephoning; (e) express; (f) depositions including copies; and (f) plats and photographs. The bill: (a) deletes telegraphing as a recoverable cost; (b) expands the list of recoverable costs to include photocopying, electronic communications, facsimile transmissions and overnight delivery; and (c) increases the recoverable amount for each item to $100.
[Bill Sections: 3090 thru 3093 and 9309(2)]
COMMERCE
Budget Change Items
