24.39 (1) The board of commissioners of public lands may grant leases of parts or parcels of any public lands except state park lands and state forest lands; grant easements, leases to enter upon any of said lands to flow the same or to prospect for and to dig and remove therefrom ore, minerals and other deposits, and sell therefrom such timber as the board shall find necessary to prevent future loss or damage. All sales of standing live timber shall be on a selective cutting basis in line with federal forest practices. Such easements, leases, licenses, and sales shall be made only for a full and fair consideration paid or to be paid to the state, the amount and terms whereof shall be fixed by said board, and such easements, leases, licenses and sales shall conform to the requirements, so far as applicable, prescribed by ch. 26 for the exercise by the department of natural resources of similar powers affecting state park lands and state forest lands.
16,1067r
Section 1067r. 24.39 (2) of the statutes is amended to read:
24.39 (2) In negotiating for such leases, licenses
, or sales, and in exercising the other powers conferred by this section the board of commissioners of public lands shall, so far as it finds it desirable and practicable, request and make proper use of such services and information as the department of natural resources or the department of forestry may be able to furnish.
16,1088d
Section 1088d. 24.60 (1v) of the statutes is created to read:
24.60 (1v) Federated public library system means a federated public library system whose territory lies within 2 or more counties.
16,1088e
Section 1088e. 24.61 (2) (a) 10. of the statutes is created to read:
24.61 (2) (a) 10. Land in this state, but subject to the conditions established under par. (c).
16,1088m
Section 1088m. 24.61 (2) (b) of the statutes is amended to read:
24.61 (2) (b) Deposited with state treasurer. All bonds, notes, and other securities so purchased under par. (a) shall be deposited with the state treasurer.
16,1088r
Section 1088r. 24.61 (2) (c) of the statutes is created to read:
24.61 (2) (c) Investments in land in this state. The board may not invest moneys in the purchase of any land under par. (a) 10. unless all of the following conditions are satisfied:
1. The land was project land under a hydroelectric project license issued by the federal energy regulatory commission and the commission has determined that the land is no longer necessary for the operation of any hydroelectric facility.
2. The board determines that the land is suitable for public use, enjoyment, recreation, and education.
3. The amount of land purchased by the board in any 5-year period does not exceed 10,000 acres.
4. The land is appraised in the manner provided under s. 24.08 (3).
5. The board considers all appraisals of the land in making the offer to purchase the land.
6. The board notifies the joint committee on finance in writing of its intention to purchase the land. If the cochairpersons of the committee do not notify the board that the committee has scheduled a meeting for the purpose of reviewing the proposed purchase of land within 14 working days after the date of the board's notification, the land may be purchased by the board. If, within 14 working days after the date of the board's notification, the cochairpersons of the committee notify the board that the committee has scheduled a meeting for the purpose of reviewing the proposed purchase, the land may be purchased only upon approval of the committee.
16,1089m
Section 1089m. 24.61 (3) (a) 11. of the statutes is created to read:
24.61 (3) (a) 11. A federated public library system, as provided under s. 43.17 (9) (b) or otherwise authorized by law.
16,1089n
Section 1089n. 24.61 (3) (b) of the statutes is amended to read:
24.61 (3) (b) Terms; conditions. A municipality or, cooperative educational service agency, or federated public library system may obtain a state trust fund loan for the sum of money, for the time and upon the conditions as may be agreed upon between the board and the borrower, subject to the limitations, restrictions
, and conditions set forth in this subchapter.
16,1089t
Section 1089t. 24.63 (2r) of the statutes is created to read:
24.63 (2r) Federated public library system loans. A state trust fund loan to a federated public library system may be made for any term, not exceeding 20 years, that is agreed upon between the federated public library system and the board and may be made for a total amount that, together will all other indebtedness of the federated public library system, does not exceed the federated public library system's allowable indebtedness under s. 43.17 (9) (b).
16,1092m
Section 1092m. 24.66 (3v) of the statutes is created to read:
24.66 (3v) For federated public library systems. An application for a loan by a federated public library system shall be accompanied by a certified copy of a resolution of the board of the federated public library system approving the loan.
16,1096m
Section 1096m. 24.67 (1) (intro.) of the statutes is amended to read:
24.67 (1) (intro.) If the board approves the application, it shall cause certificates of indebtedness to be prepared in proper form and transmitted to the municipality or, cooperative educational service agency, or federated public library system submitting the application. The certificate of indebtedness shall be executed and signed:
16,1097m
Section 1097m. 24.67 (1) (m) of the statutes is created to read:
24.67 (1) (m) For a federated public library system, by its president.
16,1098m
Section 1098m. 24.67 (2) (h) of the statutes is created to read:
24.67 (2) (h) For a federated public library system, by a member of the federated public library system board designated by that board who is not the president of that board.
16,1099m
Section 1099m. 24.67 (3) of the statutes is amended to read:
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 or, cooperative educational service agency, or federated public library system making the loan or as the treasurer of the municipality or, 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.
16,1100m
Section 1100m. 24.70 (1) of the statutes is amended to read:
24.70 (1) Applicability. This section applies to all outstanding state trust fund loans to borrowers other than school districts and federated public library systems.
16,1101m
Section 1101m. 24.715 of the statutes is created to read:
24.715 Collections from federated public library systems. (1) Applicability. This section applies to all outstanding trust fund loans to federated public library systems.
(2) Certified statement. If a federated public library system has a state trust fund loan, the board shall transmit to the system board 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 and the department of public instruction.
(3) Payment to state treasurer. The system board shall transmit to the state treasurer on its own order the full amount levied for state trust fund loans within 15 days after March 15. The state treasurer 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 with the delinquent payment.
(4) Failure to make payment. If the system board fails to remit the amounts due under sub. (3), the state superintendent, upon certification of delinquency by the board, shall deduct the amount due including any penalty from any aid payments due the system, shall remit such amount to the state treasurer and, no later than June 15, shall notify the system board and the board to that effect.
16,1102
Section
1102. 25.14 (1) (a) 15. of the statutes is created to read:
25.14 (1) (a) 15. The permanent endowment fund.
16,1102e
Section 1102e. 25.14 (1) (a) 15m. of the statutes is created to read:
25.14 (1) (a) 15m. Any redemption fund established under s. 18.561 (5).
16,1102g
Section 1102g. 25.14 (1) (a) 16. of the statutes is created to read:
25.14 (1) (a) 16. Any redemption fund established under s. 18.562 (3).
16,1102k
Section 1102k. 25.14 (1) (a) 17. of the statutes is created to read:
25.14 (1) (a) 17. Any fund established under s. 18.57 (1).
16,1102m
Section 1102m. 25.14 (1) (a) 18. of the statutes is created to read:
25.14 (1) (a) 18. The artistic endowment fund.
16,1104
Section 1104. 25.17 (1) (ag) of the statutes is created to read:
25.17 (1) (ag) Agricultural producer security fund (s. 25.463);
16,1104m
Section 1104m. 25.17 (1) (ak) of the statutes is created to read:
25.17 (1) (ak) Artistic endowment fund (s. 25.78);
16,1104n
Section 1104n. 25.17 (1) (aq) of the statutes is created to read:
25.17 (1) (aq) Cash building projects fund (s. 25.91).
16,1104p
Section 1104p. 25.17 (1) (at) of the statutes is created to read:
25.17 (1) (at) Cemetery management insurance fund (s. 25.86);
16,1105
Section
1105. 25.17 (1) (ee) of the statutes is repealed.
16,1107
Section
1107. 25.17 (1) (f) of the statutes is repealed.
16,1107g
Section 1107g. 25.17 (1) (fs) of the statutes is created to read:
25.17 (1) (fs) Forestry fund (s. 25.28).
16,1107r
Section 1107r. 25.17 (1) (fv) of the statutes is created to read:
25.17 (1) (fv) Forestry land endowment fund (s. 25.294);
16,1108
Section
1108. 25.17 (1) (jv) of the statutes is created to read:
25.17 (1) (jv) Medical assistance trust fund (s. 25.77);
16,1109
Section
1109. 25.17 (1) (kr) of the statutes is created to read:
25.17 (1) (kr) Permanent endowment fund (s. 25.69);
16,1110m
Section 1110m. 25.17 (1) (yt) of the statutes is created to read:
25.17 (1) (yt) Wisconsin outdoor wildlife heritage trust fund (s. 25.297).
16,1111
Section
1111. 25.17 (16) of the statutes is created to read:
25.17 (16) (a) Annually, after June 1 but not later than June 15, beginning in 2004, calculate the amount of moneys that are available in the permanent endowment fund for transfer to the general fund under s. 13.101 (16) (a). For the purpose of this calculation, moneys that are available in the permanent endowment fund for transfer to the general fund shall equal the sum of the following:
1. An amount that equals 8.5% of the market value of the investments in the permanent endowment fund on June 1, less the amount transferred to the tobacco control fund under s. 13.101 (16) (b). For the purpose of making the calculation under this subdivision, the board shall not include any amounts or investments specified in subds. 2. and 3.
2. All proceeds of, and investment earnings on, investments of the permanent endowment fund made under s. 25.18 (1) (p) that are received in the fiscal year.
3. All other amounts identified by the secretary of administration as payments of residual interests to the state from the sale of the state's right to receive payments under the Attorneys General Master Tobacco Settlement Agreement of November 23, 1998, that are received in the fiscal year.
(b) Annually, beginning in 2004, submit to the joint committee on finance and to the chief clerk of each house, for distribution to the appropriate standing committees under s. 13.172 (3), a report specifying the amount of moneys that are available in the permanent endowment fund for transfer to the general fund under s. 13.101 (16).
16,1111j
Section 1111j. 25.17 (59) of the statutes is amended to read:
25.17 (59) Invest or deposit money from the appropriation under s. 20.143 (1) (fm) in a public depository located in this state that is at least 51% owned by a minority group member or minority group members, as defined in s. 560.036 (1) (f) a minority business certified by the department of commerce under s. 560.036 (2).
16,1112
Section
1112. 25.18 (1) (o) of the statutes is created to read:
25.18 (1) (o) Invest any of the assets of the permanent endowment fund in any investment that is an authorized investment for assets in the fixed retirement investment trust under s. 25.17 (4) or assets in the variable retirement investment trust under s. 25.17 (5).
16,1113
Section
1113. 25.18 (1) (p) of the statutes is created to read:
25.18 (1) (p) Hold any of the assets in the permanent endowment fund in any of the following:
1. Evidences of indebtedness, including subordinated obligations, that are secured by tobacco settlement revenues, as defined in s. 16.63 (1) (c), and that are issued by a corporation or company established under s. 16.63 (3) or 231.215 or by the Wisconsin health and educational facilities authority.
2. Certificates or other evidences of ownership interest in all or any portion of tobacco settlement revenues, as defined in s. 16.63 (1) (c).
16,1113g
Section 1113g. 25.28 of the statutes is created to read:
25.28 Forestry fund. (1) There is established a separate nonlapsible trust fund designated as the forestry fund to consist of all of the following:
(a) All moneys accruing to the state for or in behalf of the department of forestry under s. 29.235 (6) and chs. 23, 26, 27, and 28.
(b) All moneys received under subchs. I and VI of ch. 77.
(c) All moneys received under s. 70.58.
