Amendment ASA1-AB164

AB164-ASA1,4,23 b. The balance in the school district's general fund on the previous June 30 is equal to no more than 15% of the school district's operating budget.

AB164-ASA1,4,25 c. The school board adopts the resolution to issue the note by unanimous vote of the entire membership of the school board.

AB164-ASA1, s. 9 Section 9. 67.12 (12) (e) 2w. of the statutes is created to read:

AB164-ASA1,5,4 67.12 (12) (e) 2w. If a school board borrows funds under this section and subd. 2. does not apply as a result of subd. 2r., the school board may use the funds only for a capital expenditure.

AB164-ASA1, s. 10 Section 10. 119.49 (2) of the statutes is amended to read:

AB164-ASA1,5,15 119.49 (2) Upon Except as provided in sub. (2m), upon receipt of the communication, the common council shall cause the question of issuing such school bonds in the stated amount and for the stated school purposes to be submitted to the voters of the city at the next election held in the city. The question of issuing such school bonds shall be submitted upon a separate ballot or in some other manner so that the vote upon issuing such school bonds is taken separately from any other question submitted to the voters. If a majority of the electors voting on the school bond question favors issuing such school bonds, the common council shall cause the school bonds to be issued immediately or within the period permitted by law, in the amount requested by the board and in the manner other bonds are issued.

AB164-ASA1, s. 11 Section 11. 119.49 (2m) of the statutes is created to read:

AB164-ASA1,5,18 119.49 (2m) The common council is not required to submit the question of issuing school bonds to the voters of the city if all of the following apply:

AB164-ASA1,5,21 (a) The board sends the communication to the common council under sub. (1) by unanimous vote of the entire membership of the board and requests that the common council not submit the question to the voters of the city.

AB164-ASA1,5,22 (b) The common council approves the bond issue by majority vote.

AB164-ASA1,6,3 (c) The amount of money to be raised by the bond issue will not cause the aggregate amounts outstanding indebtedness of the city incurred under this section without a referendum since the effective date of this paragraph .... [revisor inserts date], excluding amounts specified in s. 67.05 (6a) (bm), to exceed $100,000 or an amount equal to 1% of the operating budget of the school district operating under this chapter, not exceeding $10,000,000, whichever is greater.

AB164-ASA1,6,6 (d) The balance in the general fund of the school district operating under this chapter on the previous June 30 is equal to no more than 15% of the school district's operating budget.

AB164-ASA1, s. 12 Section 12. 121.07 (6) (a) (intro.) of the statutes is amended to read:

AB164-ASA1,6,15 121.07 (6) (a) (intro.) "Shared cost" is the sum of the net cost of the general fund and the net cost of the debt service fund, except that "shared cost" excludes any costs, including attorney fees, incurred by a school district as a result of its participation in a lawsuit commenced against the state, beginning with such costs incurred in the fiscal year in which the lawsuit is commenced. In this paragraph, "net cost of the debt service fund" excludes debt service on debt that was not subject to a referendum as a result of s. 67.05 (6a) (bg), 67.12 (12) (e) 2r. or 119.49 (2m). In this paragraph, "net cost of the debt service fund" includes all of the following amounts:

AB164-ASA1, s. 13 Section 13. 121.15 (1) (a) of the statutes is amended to read:

AB164-ASA1,6,21 121.15 (1) (a) Each school district shall receive 15% one-sixth of its total aid entitlement in September, 25% July, one-sixth of its total aid entitlement in December, 25% September, one-sixth of its total aid entitlement in March and 35% November, one-sixth of its total aid entitlement in June January, one-sixth of its total aid entitlement in March and one-sixth of its total aid entitlement in May.

AB164-ASA1, s. 14 Section 14. 121.15 (1) (b) of the statutes is amended to read:

AB164-ASA1,6,25 121.15 (1) (b) For the July and September payment payments, the total aid entitlement for each school district shall be estimated based upon the total aid payment in the previous year.

AB164-ASA1, s. 15 Section 15. 121.15 (1) (c) of the statutes is amended to read:

AB164-ASA1,7,4 121.15 (1) (c) For the payments from December to June November to May, the total aid entitlement for each school district shall be computed on the basis of the budget and membership report under s. 121.05.

AB164-ASA1, s. 16 Section 16. 121.15 (1) (e) of the statutes is amended to read:

AB164-ASA1,7,9 121.15 (1) (e) Payments under this subsection shall be made on the first Monday of the month for the December payment, on the 3rd Monday of the month for the September and June payments and on the 4th Monday of the month for the March payment.

AB164-ASA1, s. 17 Section 17. 121.15 (3m) (a) 1. of the statutes is amended to read:

AB164-ASA1,7,14 121.15 (3m) (a) 1. "Partial school revenues" means the sum of state school aids and property taxes levied for school districts, other than property taxes levied to pay debt service on debt that was not subject to a referendum as a result of s. 67.05 (6a) (bg), 67.12 (12) (e) 2r. or 119.49 (2m).

AB164-ASA1, s. 18 Section 18. 121.91 (4) (c) 3. of the statutes is created to read:

AB164-ASA1,7,23 121.91 (4) (c) 3. Funds needed for the payment of any general obligation debt service, including debt service on debt issued or reissued to fund or refund outstanding municipal obligations, interest on outstanding municipal obligations or the payment of related issuance costs or redemption premiums, authorized on or after the effective date of this subdivision .... [revisor inserts date], by a resolution of the school board and secured by the full faith and credit of the school district if the issuance of the debt was not subject to a referendum as a result of s. 67.05 (6a) (bg), 67.12 (12) (e) 2r. or 119.49 (2m).

AB164-ASA1, s. 19 Section 19. Initial applicability.

AB164-ASA1,8,3 (1) The treatment of sections 121.07 (6) (a) (intro.) and 121.15 (1) (a), (b), (c) and (e) of the statutes first applies to the payment of state aid in the school year beginning after publication.

AB164-ASA1,8,6 (2) The treatment of sections 67.05 (6a) (a) 2. (intro.), (b) (intro.), (bg) and (d), 67.12 (12) (e) 2., 2g. (intro.), 2r. and 2w. and 119.49 (2) and (2m) of the statutes first applies to initial resolutions adopted on the effective date of this subsection.

AB164-ASA1, s. 20 Section 20. Effective date.

AB164-ASA1,8,8 (1) This act takes effect on the July 1 after publication.

AB164-ASA1,8,9 (End)