SB44: Bill Text

SB44, s. 817 Section 817 . 24.61 (2) (b) of the statutes, as affected by 2003 Wisconsin Act .... (this act), is amended to read:

SB44,451,7 24.61 (2) (b) Deposited with state treasurer secretary of administration. All bonds, notes, and other securities purchased under par. (a) shall be deposited with the state treasurer secretary of administration.

SB44, s. 818 Section 818. 24.61 (2) (c) of the statutes is created to read:

SB44,451,13 24.61 (2) (c) Delegation of investment authority to investment board. The board may delegate to the investment board the authority to invest part or all of the moneys belonging to the trust funds. If the board delegates the authority, the investment board may invest the moneys belonging to the trust funds in any manner authorized for the investment of any funds specified in s. 25.17 (1).

SB44, s. 819 Section 819. 24.61 (2) (d) of the statutes is created to read:

SB44,451,19 24.61 (2) (d) Investments in land in this state. The board may not invest moneys in the purchase of any land under par. (a) 10. unless the governor requests that the board purchase the land and that the board determines that the purchase of the land will reduce the per acre costs incurred by the board in managing the public lands and all other lands managed by the board.

SB44, s. 820 Section 820. 24.62 (1) of the statutes is amended to read:

SB44,452,2 24.62 (1) Except as authorized in sub. (2), the board shall deduct its expenses incurred in administering investments and loans under s. 24.61 from the gross receipts of the fund to which the interest and income of the investment or loan will be added. If the board delegates to the investment board the authority to invest part or all of the moneys belonging to the trust funds, the investment board shall deduct its expenses incurred in administering investments under s. 24.61 as provided under s. 25.187.

SB44, s. 821 Section 821. 24.67 (3) of the statutes is amended to read:

SB44,452,14 24.67 (3) If a municipality has acted under subs. (1) and (2), it shall certify that fact to the department of administration. Upon receiving a certification from a municipality, or upon direction of the board if a loan is made to a cooperative educational service agency or a federated public library system, the secretary of administration shall draw a warrant upon the state treasurer for the amount of the loan, payable to the treasurer of the municipality, cooperative educational service agency, or federated public library system making the loan or as the treasurer of the municipality, cooperative educational service agency, or federated public library system directs. The certificate of indebtedness shall then be conclusive evidence of the validity of the indebtedness and that all the requirements of law concerning the application for the making and acceptance of the loan have been complied with.

SB44, s. 822 Section 822. 24.69 (1) of the statutes is amended to read:

SB44,452,22 24.69 (1) The board may sell state trust fund loans or participations therein, and may contract to do so at a future date, for such price, upon such other terms and in such manner as the board may determine. The sale may be to any person, including, without limitation, a trust or other investment vehicle created for the purpose of attracting private investment capital. The board shall remit the proceeds of the sale to the state treasurer secretary of administration for deposit in the appropriate trust fund and shall invest the proceeds in accordance with s. 24.61.

SB44, s. 823 Section 823. 24.70 (2) of the statutes is amended to read:

SB44,453,6 24.70 (2) Certified statement. If a borrower other than a school district has a state trust fund loan, the board shall transmit to the clerk of the jurisdiction, or the person signing the application on behalf of the borrower in the case of a cooperative educational service agency, a certified statement of the amount due on or before October 1 of each year until the loan is repaid. The board shall submit a copy of each certified statement to the state treasurer secretary of administration. A cooperative educational service agency shall transmit a copy of the statement to the clerk of each school district on behalf of which the agency has obtained a loan.

SB44, s. 824 Section 824. 24.70 (4) of the statutes is amended to read:

SB44,453,16 24.70 (4) Payment to state treasurer secretary of administration. The treasurer of each municipality shall transmit to the state treasurer secretary of administration on his or her order the full amount levied for state trust fund loans within 15 days after March 15. Each cooperative educational service agency shall similarly transmit the annual amount owed on any state trust fund loan made to the agency by that date. The state treasurer secretary of administration shall notify the board when he or she receives payment. Any payment not made by March 30 is delinquent and is subject to a penalty of one percent per month to be paid to the state treasurer secretary of administration with the delinquent payment.

SB44, s. 825 Section 825. 24.70 (6) of the statutes is amended to read:

SB44,453,24 24.70 (6) Failure to make payments. If any municipality fails to remit the amount due by the date specified under sub. (4), the board may file a certified statement of the amount delinquent amount with the department of administration. The department secretary of administration shall collect the amount due, including any penalty, by deducting that amount from any state payments due the municipality, shall remit that amount to the state treasurer and shall notify the treasurer and the board of that action.

SB44, s. 826 Section 826. 24.71 (2) of the statutes is amended to read:

SB44,454,5 24.71 (2) Certified statement. If a school district has a state trust fund loan, the board shall transmit to the school district clerk a certified statement of the amount due on or before October 1 of each year until the loan is paid. The board shall furnish a copy of each certified statement to the state treasurer secretary of administration and the department of public instruction.

SB44, s. 827 Section 827. 24.71 (4) of the statutes is amended to read:

SB44,454,14 24.71 (4) Payment to state treasurer secretary of administration. The school district treasurer shall transmit to the state treasurer on his or her own order secretary of administration the full amount levied for state trust fund loans within 15 days after March 15. The state treasurer secretary of administration shall notify the board when he or she receives payment. Any payment not made by March 30 is delinquent and is subject to a penalty of one percent per month or fraction thereof, to be paid to the state treasurer secretary of administration with the delinquent payment.

SB44, s. 828 Section 828. 24.71 (5) of the statutes is amended to read:

SB44,454,21 24.71 (5) Failure to make payment. If the school district treasurer fails to remit the amounts due under sub. (4), the state superintendent, upon certification of delinquency by the board, shall deduct the amount due including any penalty from any school aid payments due the school district, shall remit such amount to the state treasurer secretary of administration and, no later than June 15, shall notify the school district treasurer and the board to that effect.

SB44, s. 829 Section 829. 25.14 (1) (a) 9m. of the statutes is created to read:

SB44,454,23 25.14 (1) (a) 9m. The health care provider availability and cost control fund.

SB44, s. 830 Section 830. 25.14 (3) of the statutes is amended to read:

SB44,455,11 25.14 (3) The department of administration, upon consultation with the board, shall distribute all earnings, profits, or losses of the state investment fund to each participating fund in the same ratio as each participating fund's average daily balance within the state investment fund bears to the total average daily balance of all participating funds, except as provided in s. 14.58 (19) 16.401 (14) and except that the department of administration shall credit to the appropriation account under s. 20.585 (1) (jt) 20.505 (1) (kj) an amount equal to the amount assessed under s. 25.19 (3) from the earnings or profits of the funds against which an assessment is made. Distributions under this section shall be made at such times as the department of administration may determine, but must be made at least semiannually in each complete fiscal year of operation.

SB44, s. 831 Section 831. 25.16 (8) of the statutes is created to read:

SB44,455,20 25.16 (8) The executive director shall assign an employe of the investment board to assist the board of commissioners of public lands in establishing and maintaining investment objects with respect to the investment of the assets of the agricultural college fund, the common school fund, the normal school fund, and the university fund. An amount equal to the cost of any services rendered to the board of commissioners of public lands under this subsection shall be deducted from the gross receipts of the fund to which the moneys invested belong and shall be credited to the appropriation account under s. 20.536 (1) (k).

SB44, s. 832 Section 832. 25.17 (1) (afp) of the statutes is created to read:

SB44,455,23 25.17 (1) (afp) Agricultural college fund (s. 24.82), but subject to the terms of delegation under s. 24.61 (2) (c);

SB44, s. 833 Section 833. 25.17 (1) (ayp) of the statutes is created to read:

SB44,456,2 25.17 (1) (ayp) Common school fund (s. 24.76), but subject to the terms of delegation under s. 24.61 (2) (c);

SB44, s. 834 Section 834. 25.17 (1) (e) of the statutes is created to read:

SB44,456,4 25.17 (1) (e) Election administration fund (s. 25.425);

SB44, s. 835 Section 835. 25.17 (1) (es) of the statutes is created to read:

SB44,456,6 25.17 (1) (es) Excise tax fund (s. 25.59);

SB44, s. 836 Section 836. 25.17 (1) (kd) of the statutes is created to read:

SB44,456,9 25.17 (1) (kd) Normal school fund (s. 24.80), but subject to the terms of delegation under s. 24.61 (2) (c);

SB44, s. 837 Section 837. 25.17 (1) (ky) of the statutes is created to read:

SB44,456,11 25.17 (1) (ky) Health care provider availability and cost control fund (s. 655.75);

SB44, s. 838 Section 838. 25.17 (1) (th) of the statutes is created to read:

SB44,456,14 25.17 (1) (th) Tobacco settlement bond purchase program repayment fund (s. 25.575);

SB44, s. 839 Section 839. 25.17 (1) (xLc) of the statutes is created to read:

SB44,456,17 25.17 (1) (xLc) University fund (s. 24.81), but subject to the terms of delegation under s. 24.61 (2) (c);

SB44, s. 840 Section 840. 25.17 (1) (zm) of the statutes is amended to read:

SB44,456,24 25.17 (1) (zm) All other funds of the state or of any state department or institution, except funds which under article X of the constitution are controlled and invested by the board of commissioners of public lands, funds which are required by specific provision of law to be controlled and invested by any other authority, and moneys in the University of Wisconsin trust funds, and in the trust funds of the state universities.

SB44, s. 841 Section 841. 25.17 (3) (a) of the statutes is amended to read:

SB44,457,7 25.17 (3) (a) Invest the fixed retirement investment trust, state life fund, veterans trust fund and, patients compensation fund, and health care provider availability and cost control fund in loans, securities and any other investments authorized by s. 620.22, and in bonds or other evidences of indebtedness or preferred stock of companies engaged in the finance business whether as direct lenders or as holding companies owning subsidiaries engaged in the finance business. Investments permitted by sub. (4) are permitted investments under this subsection.

SB44, s. 842 Section 842. 25.17 (3) (dr) of the statutes is amended to read:

SB44,457,13 25.17 (3) (dr) Invest the funds of the bond security and redemption fund only in direct obligations of securities issued by the United States or one of its agencies, and securities fully guaranteed by the United States, maturing in amounts and at times sufficient to pay the principal and interest payable from such fund during the calendar year.

SB44, s. 843 Section 843. 25.17 (61) of the statutes is amended to read:

SB44,457,19 25.17 (61) Designate special depositories in which the secretary of administration or the state treasurer may make special deposits of funds, not exceeding the amount limited by the board, which shall be deposited subject to the depository's rules and regulations relative to either savings accounts, time certificates of deposit, or open time accounts, as the case may be.

SB44, s. 844 Section 844. 25.19 (3) of the statutes is amended to read:

SB44,457,23 25.19 (3) The state treasurer secretary of administration shall, at the direction of the depository selection board under s. 34.045 (1) (b), allocate bank service costs to the funds incurring those costs.

SB44, s. 845 Section 845. 25.19 (4) of the statutes is amended to read:

SB44,458,2 25.19 (4) The state treasurer secretary of administration shall provide advice to state agencies concerning efficient cash management practices.

SB44, s. 846 Section 846. 25.31 (1) of the statutes is amended to read:

SB44,458,6 25.31 (1) First: The principal of said trust fund shall be held by the state treasurer secretary of administration, and be invested and reinvested as provided in this chapter.

SB44, s. 847 Section 847. 25.40 (1) (a) 3. of the statutes is amended to read:

SB44,458,13 25.40 (1) (a) 3. Revenues collected under s. 341.25 ss. 341.09 (2) (d), (2m) (a) 1., (4), and (7), 341.14 (2), (2m), (6) (d), (6m) (a), (6r) (b) 2., (6w), and (8), 341.145 (3), 341.16 (1) (a) and (b), (2), and (2m), 341.25, 341.255 (1), (2) (a), (b), and (c), and (5), 341.26 (1), (2), (2m) (am), (3), (3m), (4), (5), and (7), 341.264 (1), 341.265 (1), 341.266 (2) (b) and (3), 341.268 (2) (b) and (3), 341.30 (3), 341.305 (3), 341.308 (3), and 342.14, except s. 342.14 (1r), that are pledged to the any fund created under s. 84.59 (2).

SB44, s. 848 Section 848. 25.40 (1) (a) 6. of the statutes is amended to read:

SB44,458,17 25.40 (1) (a) 6. Amounts payable to the state treasurer secretary of administration under s. 85.14 (1) (b) in conjunction with the collection of fees paid by credit card.

SB44, s. 849 Section 849. 25.40 (1) (a) 12m. of the statutes is created to read:

SB44,458,20 25.40 (1) (a) 12m. Moneys collected under s. 195.60 that are deposited in the general fund, 90% of which are credited to the appropriation under s. 20.395 (2) (gg).

SB44, s. 850 Section 850. 25.40 (1) (f) 1. of the statutes is repealed.

SB44, s. 851 Section 851. 25.40 (1) (f) 2. of the statutes is amended to read:

SB44,458,24 25.40 (1) (f) 2. Moneys received under s. 106.26 that are deposited in the general fund and credited to the appropriation under s. 20.445 (1) (ox).

SB44, s. 852 Section 852. 25.40 (2) (b) 19r. of the statutes is created to read:

SB44,459,1 25.40 (2) (b) 19r. Section 20.255 (2) (r).

SB44, s. 853 Section 853. 25.40 (2) (b) 22m. of the statutes is created to read:

SB44,459,3 25.40 (2) (b) 22m. Section 20.835 (1) (t).

SB44, s. 854 Section 854. 25.40 (2) (b) 22m. of the statutes, as created by 2003 Wisconsin Act .... (this act), is repealed.

SB44, s. 855 Section 855. 25.425 of the statutes is created to read:

SB44,459,9 25.425 Election administration fund. There is established a separate nonlapsible trust fund designated the election administration fund consisting of all moneys received from the federal government under P.L. 107-252.

SB44, s. 856 Section 856. 25.465 (8) of the statutes is amended to read:

SB44,459,12 25.465 (8) The fees collected under s. 94.72 (5) (b) and (6) (a) 1. and 2. and 2m. and (i).

SB44, s. 857 Section 857. 25.55 (1) of the statutes is repealed.

SB44, s. 858 Section 858. 25.55 (2) of the statutes is repealed.

SB44, s. 859 Section 859. 25.575 of the statutes is created to read:

SB44,459,22 25.575 Tobacco settlement bond purchase program repayment fund. There is created a separate nonlapsible trust fund, known as the tobacco settlement bond purchase program repayment fund, consisting of all moneys received as revenues from bonds purchased under s. 16.523, any other revenues of the tobacco settlement bond purchase program dedicated to it by the resolution authorizing the issuance of the revenue obligations under s. 16.523, and all moneys transferred to the fund under s. 20.505 (1) (te).

SB44, s. 860 Section 860. 25.59 of the statutes is created to read:

SB44,460,3 25.59 Excise tax fund. There is created a separate nonlapsible trust fund, known as the excise tax fund, that, for the purposes of subch. II of ch. 18, shall be a special fund. If any revenue obligations are issued under s. 16.526, the excise tax fund shall consist of all taxes that are thereafter paid under ch. 139, other than subch. IV of ch. 139.

SB44, s. 861 Section 861. 25.60 of the statutes is amended to read:

SB44,460,8 25.60 Budget stabilization fund. There is created a separate nonlapsible trust fund designated as the budget stabilization fund, consisting of moneys transferred to the fund from the general fund under s. ss. 13.48 (14) (c), 16.518 (3) , 16.72 (4) (b), and 51.06 (6).