SB688: Bill Text

LRB-4686/1

EVM:cjs:md

2009 - 2010 LEGISLATURE

2009 Senate BILL 688

April 14, 2010 - Introduced by Senator Harsdorf, cosponsored by Representatives Rhoades, Hraychuck and Murtha. Referred to Joint Committee on Finance.

SB688,1,3 An Act to repeal 84.016 (3); and to amend 20.866 (2) (ugm) and 84.016 (2) of the statutes; relating to: bonding authority for major interstate bridge projects and making an appropriation.

Analysis by the Legislative Reference Bureau

Current law authorizes the state to contract public debt in an amount not to exceed $225,000,000, in the form of general obligation bonds, for purposes of funding major interstate bridge projects. A major interstate bridge project is defined to mean "a project involving the construction or reconstruction of a bridge on the state trunk highway system, including approaches, that crosses a river forming a boundary of the state and for which this state's estimated cost share is at least $100,000,000." Under current law, the Department of Transportation may not encumber or expend any funds collected under this bonding authorization unless the state receives federal funds that are designated by the federal government for a major interstate bridge project and that cover at least $75,000,000 of the state's share of the project's cost.

This bill increases the general obligation bonding authorization for major interstate bridge projects to $300,000,000 and eliminates the requirement that the state receive federal funds covering a portion of the project's cost before expending or encumbering funds collected under the bonding authorization.

For further information see the state fiscal estimate, which will be printed as an appendix to this bill.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

SB688, s. 1 Section 1. 20.866 (2) (ugm) of the statutes, as created by 2009 Wisconsin Act 28, is amended to read:

SB688,2,6 20.866 (2) (ugm) Transportation; major interstate bridge construction. From the capital improvement fund, a sum sufficient for the department of transportation to fund major interstate bridge projects under s. 84.016. The state may contract public debt in an amount not to exceed $225,000,000 $300,000,000 for this purpose.

SB688, s. 2 Section 2. 84.016 (2) of the statutes, as created by 2009 Wisconsin Act 28, is amended to read:

SB688,2,12 84.016 (2) Notwithstanding ss. 84.013, 84.51, 84.52, 84.53, 84.555, and 84.95, but subject to sub. (3) and s. 86.255, this state's share of costs for any major interstate bridge project, including preliminary design work for the project, may be funded only from the appropriations under ss. 20.395 (3) (dq), (dv), and (dx) and 20.866 (2) (ugm).

SB688, s. 3 Section 3. 84.016 (3) of the statutes, as created by 2009 Wisconsin Act 28, is repealed.

SB688,2,15 (End)