9,2503
Section
2503. 281.58 (12) (a) 4. of the statutes is amended to read:
281.58 (12) (a) 4. The interest rate for projects specified in sub. (7) (b) 6. and 7. and for those portions of projects under subd. 1. that are restricted by sub. (8) (b), (c), (f) or (h) is market interest rate.
9,2504
Section
2504. 281.58 (12) (a) 5. of the statutes is repealed.
9,2504e
Section 2504e. 281.58 (12) (f) of the statutes is amended to read:
281.58 (12) (f) The department and the department of administration jointly may request the joint committee on finance to take action under s. 13.101 (11) to modify the percentage of market interest rates established in par. (a) 1. to or 3.
9,2504p
Section 2504p. 281.59 (1) (d) (intro.) of the statutes is amended to read:
281.59 (1) (d) (intro.) "Subsidy" means the amounts provided from the environmental improvement fund to clean water fund program, safe drinking water loan program, urban storm water loan program and land recycling loan program projects for the following purposes:
9,2504q
Section 2504q. 281.59 (1) (d) 1. of the statutes is amended to read:
281.59 (1) (d) 1. To reduce the interest rate of clean water fund program, safe drinking water loan program, urban storm water loan program and land recycling loan program loans from market rate to a subsidized rate.
9,2504r
Section 2504r. 281.59 (1) (em) of the statutes is created to read:
281.59 (1) (em) "Urban storm water loan program" means the program administered under s. 281.595, with financial management provided under this section.
9,2505
Section
2505. 281.59 (1m) (c) of the statutes is created to read:
281.59 (1m) (c) There is established a private sewage system replacement and rehabilitation loan program, administered under s. 145.245 (12m).
9,2506f
Section 2506f. 281.59 (1m) (d) of the statutes is created to read:
281.59 (1m) (d) There is established an urban storm water loan program, administered under s. 281.595, with financial management provided under this section.
9,2506g
Section 2506g. 281.59 (2) (a) of the statutes is amended to read:
281.59 (2) (a) Administer its responsibilities under this section and ss. 281.58, 281.595, 281.60 and 281.61.
9,2506h
Section 2506h. 281.59 (2) (b) of the statutes is amended to read:
281.59 (2) (b) Cooperate with the department in administering the clean water fund program, the safe drinking water loan program, the urban storm water loan program and the land recycling loan program.
9,2506i
Section 2506i. 281.59 (3) (a) 1. of the statutes is amended to read:
281.59 (3) (a) 1. An estimate of the wastewater treatment, safe drinking water, urban storm water and land recycling project needs of the state for the 4 fiscal years of the next 2 biennia.
9,2506j
Section 2506j. 281.59 (3) (a) 4. of the statutes is amended to read:
281.59 (3) (a) 4. The extent to which the funding for the clean water fund program, the urban storm water loan program and the safe drinking water loan program, in the environmental improvement fund, will be maintained in perpetuity.
9,2506k
Section 2506k. 281.59 (3) (a) 5. of the statutes is amended to read:
281.59 (3) (a) 5. The most recent available audited financial statements of the past operations and activities of the clean water fund program, the safe drinking water loan program, the urban storm water loan program and
the land recycling loan program, the estimated environmental improvement fund capital available in each of the next 4 fiscal years for the clean water fund program, the urban storm water loan program and the safe drinking water loan program, and the projected environmental improvement fund balance for the clean water fund program, the urban storm water loan program and the safe drinking water loan program for each of the next 20 years given existing obligations and financial conditions.
9,2506L
Section 2506L. 281.59 (3) (a) 6s. of the statutes is created to read:
281.59 (3) (a) 6s. An amount equal to the estimated present value of subsidies for all loans under the urban storm water loan program to be made during the biennium for which the biennial finance plan is prepared, discounted at a rate of 7% per year to the first day of that biennium.
9,2506m
Section 2506m. 281.59 (3) (a) 7. of the statutes is amended to read:
281.59 (3) (a) 7. A discussion of the assumptions made in calculating the amounts under subds. 6., 6e. and
, 6m. and 6s.
9,2506q
Section 2506q. 281.59 (3) (j) of the statutes is amended to read:
281.59 (3) (j) No later than November 1 of each odd-numbered year, the department of administration and the department jointly shall submit a report, to the building commission and committees as required under par. (bm), on the implementation of the amount established under sub. (3e) (b) as required under s. 281.58 (9m) (e), and on the operations and activities of the clean water fund program, the safe drinking water loan program, the urban storm water loan program and the land recycling loan program for the previous biennium.
9,2507
Section
2507. 281.59 (3e) (b) 1. and 3. of the statutes are amended to read:
281.59 (3e) (b) 1. Equal to $90,200,000 $85,200,000 during the 1997-99 1999-01 biennium.
3. Equal to $1,000 for any biennium after the 1997-99 1999-01 biennium.
9,2508
Section
2508. 281.59 (3m) (b) 1. and 2. of the statutes are amended to read:
281.59 (3m) (b) 1. Equal to $4,500,000
$9,400,000 during the 1997-99 1999-01 biennium.
2. Equal to $1,000 for any biennium after the 1997-99 1999-01 biennium.
9,2509
Section
2509. 281.59 (3s) (b) 1. and 2. of the statutes are amended to read:
281.59 (3s) (b) 1. Equal to $21,000,000 $12,600,000 during the 1997-99 1999-01 biennium.
2. Equal to $1,000 for any biennium after the 1997-99 1999-01 biennium.
9,2509m
Section 2509m. 281.59 (3v) of the statutes is created to read:
281.59 (3v) Urban storm water loan program expenditures. (a) No moneys may be expended for the urban storm water loan program in a biennium until the legislature reviews and approves all of the following as part of the biennial budget act for the biennium:
1. An amount of present value of the subsidy for the urban storm water loan program that is specified for that biennium under par. (b) and is based on the amount included in the biennial finance plan under sub. (3) (a) 6s.
2. The amount of public debt, authorized under s. 20.866 (2) (tc), that the state may contract for the purposes of the urban storm water loan program.
(b) The amount of present value of the subsidy for the urban storm water loan program that is approved by the legislature under this paragraph is as follows:
1. Equal to $4,500,000 during the 1999-01 biennium.
2. Equal to $1,000 for any biennium after the 1999-01 biennium.
(c) The department of administration may allocate amounts approved under par. (b) as the present value of subsidies for financial assistance under the urban storm water loan program.
(d) Using the amount approved under par. (b) as a base, the department of administration shall calculate the present value of the actual subsidy of each urban storm water loan made for those projects in each biennium that are approved for financial assistance. The present value shall be discounted as provided under sub. (3) (a) 6s.
9,2509p
Section 2509p. 281.59 (4) (a) of the statutes is amended to read:
281.59 (4) (a) The clean water fund program is a, the urban storm water loan program
and the safe drinking water loan program are revenue-producing
enterprise or program enterprises or programs, as defined in s. 18.52 (6).
9,2509q
Section 2509q. 281.59 (4) (am) of the statutes is amended to read:
281.59 (4) (am) Deposits, appropriations or transfers to the environmental improvement fund for the purposes of the clean water fund program, the urban storm water loan program
or the safe drinking water loan program may be funded with the proceeds of revenue obligations issued subject to and in accordance with subch. II of ch. 18 or in accordance with subch. IV of ch. 18 if designated a higher education bond.
9,2510
Section
2510. 281.59 (4) (b) of the statutes is amended to read:
281.59 (4) (b) The department of administration may, under s. 18.56 (5) and (9) (j) 18.561 or 18.562, deposit in a separate and distinct fund in the state treasury or in an account maintained by a trustee outside the state treasury, any portion of the revenues derived under s. 25.43 (1). The revenues deposited with a trustee outside the state treasury are the trustee's revenues in accordance with the agreement between this state and the trustee or in accordance with the resolution pledging the revenues to the repayment of revenue obligations issued under this subsection.
9,2510d
Section 2510d. 281.59 (4) (c) of the statutes is amended to read:
281.59 (4) (c) The building commission may pledge any portion of revenues received or to be received in the fund established in par. (b) or the environmental improvement fund to secure revenue obligations issued under this subsection. The pledge shall provide for the transfer to the environmental improvement fund of all pledged revenues, including any interest earned on the revenues, which are in excess of the amounts required to be paid under s. 20.320 (1) (c) and (u) for the purposes of the clean water fund program or the urban storm water loan program
plus the amounts required to be paid under s. 20.320 (2) (c) and (u) for the safe drinking water loan program. The pledge shall provide that the transfers be made at least twice yearly, that the transferred amounts be deposited in the environmental improvement fund and that the transferred amounts are free of any prior pledge.
9,2510m
Section 2510m. 281.59 (4) (f) of the statutes is amended to read:
281.59 (4) (f) Revenue obligations may be contracted by the building commission when it reasonably appears to the building commission that all obligations incurred under this subsection can be fully paid on a timely basis from moneys received or anticipated to be received. Revenue obligations issued under this subsection for the clean water fund program
and the urban storm water loan program shall not exceed $1,297,755,000 in principal amount, excluding obligations issued to refund outstanding revenue obligation notes.
Revenue obligations issued under this subsection for the safe drinking water loan program shall not exceed $27,700,000 in principal amount, excluding obligations issued to refund outstanding revenue obligation notes.
9,2511
Section
2511. 281.59 (9) (a) of the statutes is amended to read:
281.59 (9) (a) A loan approved under the clean water fund program, the safe drinking water loan program
, the urban storm water loan program or the land recycling loan program shall be for no longer than 20 years, as determined by the department of administration, be fully amortized not later than 20 years after the original date of the note financial assistance agreement, and require the repayment of principal and interest, if any, to begin not later than 12 months after the expected date of completion of the project that it funds, as determined by the department of administration.
9,2511c
Section 2511c. 281.59 (9) (am) of the statutes is amended to read:
281.59 (9) (am) The department of administration, in consultation with the department, may establish those terms and conditions of a financial assistance agreement that relate to its financial management, including what type of municipal obligation, as set forth under s. 66.36, is required for the repayment of the financial assistance. Any terms and conditions established under this paragraph by the department of administration shall comply with the requirements of this section and s. 281.58, 281.595, 281.60 or 281.61. In setting the terms and conditions, the department of administration may consider factors that the department of administration finds are relevant, including the type of obligation evidencing the loan, the pledge of security for the obligation and the applicant's creditworthiness.
9,2511e
Section 2511e. 281.59 (9) (b) (intro.) of the statutes is amended to read:
281.59 (9) (b) (intro.) As a condition of receiving financial assistance under the clean water fund program, the safe drinking water loan program, the urban storm water loan program or the land recycling loan program, an applicant shall do all of the following:
9,2511f
Section 2511f. 281.59 (9) (b) 1. of the statutes is amended to read:
281.59 (9) (b) 1. Pledge the security, if any, required by the rules promulgated by the department of administration under this section and s. 281.58, 281.595, 281.60 or 281.61.
9,2511g
Section 2511g. 281.59 (11) (a) of the statutes is amended to read:
281.59 (11) (a) The department of natural resources and the department of administration may enter into a financial assistance agreement with an applicant for which the department of administration has allocated subsidy under s. 281.58 (9m), 281.595 (8), 281.60 (8) or 281.61 (8) if the applicant meets the conditions under sub. (9) and the other requirements under this section and s. 281.58, 281.595, 281.60 or 281.61.
9,2511i
Section 2511i. 281.59 (11) (b) of the statutes is amended to read:
281.59 (11) (b) If a municipality fails to make a principal repayment or interest payment after its due date, the department of administration shall place on file a certified statement of all amounts due under this section and s. 281.58, 281.595, 281.60 or 281.61. After consulting the department, the department of administration may collect all amounts due by deducting those amounts from any state payments due the municipality or may add a special charge to the amount of taxes apportioned to and levied upon the county under s. 70.60. If the department of administration collects amounts due, it shall remit those amounts to the fund to which they are due and notify the department of that action.
9,2511k
Section 2511k. 281.59 (11) (c) of the statutes is amended to read:
281.59 (11) (c) The department of administration may retain the last payment under a financial assistance agreement until the department of natural resources and the department of administration determine that the project is completed and meets the applicable requirements of this section and s. 281.58, 281.595, 281.60 or 281.61
and that the conditions of the financial assistance agreement are met.
9,2512
Section
2512. 281.59 (12) of the statutes is amended to read:
281.59 (12) Municipal obligations. The department of administration may purchase or refinance obligations specified in s. 281.58 (6) (b) 1. or 2. and guarantee or purchase insurance for municipal obligations specified in s. 281.58 (6) (b) 3. if the department of administration and the department of natural resources approve the financial assistance under this section and s. 281.58.
9,2512e
Section 2512e. 281.59 (13s) of the statutes is amended to read:
281.59 (13s) Powers. The department of administration may audit, or contract for audits of, projects receiving financial assistance under the clean water fund program, the safe drinking water loan program, the urban storm water loan program and the land recycling loan program.
9,2512g
Section 2512g. 281.59 (14) of the statutes is amended to read:
281.59 (14) Rules. The department of administration shall promulgate rules that are necessary for the proper execution of this section and of its responsibilities under ss. 281.58, 281.595, 281.60 and 281.61.
9,2512j
Section 2512j. 281.595 of the statutes is created to read:
281.595 Urban storm water loan program.
(1) Definitions. In this section:
(a) "Local governmental unit" means a city, village, town, county, town sanitary district, public inland lake protection and rehabilitation district or metropolitan sewerage district.
(b) "Market interest rate" means the interest at the effective rate of a revenue obligation issued by this state to fund a loan or portion of a loan for a clean water fund program project under s. 281.58.
(c) "Population" means population shown by the last federal census or by any subsequent population estimate under s. 16.96.
(d) "Urban area" means any of the following:
1. An area with a population of 1,000 or more per square mile.
2. An area in which the land is used for industrial or commercial land uses.
3. An area that is surrounded by an area described in subd. 1. or 2.
(e) "Urban storm water loan program" means the program administered under this section, with financial management provided under s. 281.59.
