LRB-0871/P1
EVM:amn
2023 - 2024 LEGISLATURE
DOA:......Aslesen, BB0075 - Freight rail preservation program
For 2023-2025 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
transportation
Rail and air transportation
Freight rail preservation bonding
Under current law, the state may contract up to $300,300,000 in public debt for DOT to acquire railroad property, provide grants and loans for railroad property acquisition and improvement, and provide intermodal freight facilities grants. This bill increases the authorized general obligation bonding limit for these purposes by $20,000,000 to $320,300,000.
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:
Section
1. 20.866 (2) (uw) of the statutes is amended to read:
20.866 (2) (uw) Transportation; rail acquisitions and improvements and intermodal freight facilities. From the capital improvement fund, a sum sufficient for the department of transportation to acquire railroad property under ss. 85.08 (2) (L) and 85.09; to provide grants and loans for rail property acquisitions and improvements under s. 85.08 (4m) (c) and (d); and to provide intermodal freight facilities grants under s. 85.093. The state may contract public debt in an amount not to exceed $250,300,000 $320,300,000 for these purposes. The state may contract additional public debt in an amount up to $30,000,000 for these purposes. The state may contract additional public debt in an amount up to $20,000,000 for these purposes.
(End)
