Amendment AA1-SB105

LRBa0436/2

KSH:mfd:jf

1997 - 1998 LEGISLATURE

ASSEMBLY AMENDMENT 1, TO 1997 SENATE BILL 105

May 20, 1997 - Offered by Representative Ziegelbauer.

SB105-AA1,1,2 At the locations indicated, amend the bill, as shown by senate substitute amendment 1, as follows:

SB105-AA1,1,3 1. Page 1, line 3: delete "bonding authority" and substitute "powers".

SB105-AA1,1,4 2. Page 2, line 10: after that line insert:

SB105-AA1,1,5 " Section 3g. 229.68 (4) (intro.) of the statutes is amended to read:

SB105-AA1,1,7 229.68 (4) (intro.) In Except as provided in s. 229.682 (9), in connection with baseball park facilities:

SB105-AA1, s. 3r Section 3r. 229.682 (9) of the statutes is created to read:

SB105-AA1,1,12 229.682 (9) Supermajority voting for exceeding target amounts. The district board may not take any action that would cause the capital expenditures that are required to be reported under s. 229.82 (1) (a) to exceed $250,000,000, unless the action is approved by at least 75% of the members of the district board.".

SB105-AA1,1,13 3. Page 2, line 15: after "report to" insert "the governor and".

SB105-AA1,2,1 4. Page 2, line 19: delete lines 19 to 21 and substitute:

SB105-AA1,2,16 "(a) Stadium construction and leasing costs. An itemization of all capital expenditures incurred, since the creation of the district, for any stadium project of the district. For purposes of this paragraph, a stadium project includes the stadium structure, any roof for the stadium, all stadium concession facilities, all stadium equipment and scoreboards for the stadium and all other costs directly related to the stadium facility. The stadium project does not include infrastructure costs, such as highway construction, relocation and siting of utility facilities, parking areas, removal of any existing stadium on the site of the stadium project, or any required hazardous material remediation required by the construction. The itemized amounts shall include actual capital expenditures, financial obligations made under purchase commitments or other agreements and the present value of agreements for the lease of capital items, valued in accordance with generally accepted accounting principles promulgated by the financial accounting standards board. The itemization shall be broken down into the following categories and shall be compared with the following target amounts for each category:

SB105-AA1,2,17 1. Stadium structure, $125,000,000.

SB105-AA1,2,18 2. Stadium roof, $60,000,000.

SB105-AA1,2,19 3. Stadium concessions, $15,000,000.

SB105-AA1,2,20 4. Stadium scoreboards and equipment, $25,000,000.

SB105-AA1,2,21 5. Stadium project costs not listed under subds. 1. to 4., $25,000,000.

SB105-AA1,2,23 (am) Other capital expenditures. For all capital expenditures of the district not covered under par. (a), all of the following information:".

SB105-AA1,2,24 5. Page 4, line 15: after that line insert:

SB105-AA1,3,7 "(1m) Supplemental reports. The district shall submit a supplemental report under this subsection to the governor and the cochairpersons of the joint committee on finance within 10 business days after entering into a contract in excess of $10,000,000 involving the construction or lease items included in the stadium project costs under sub. (1) (a). The supplemental report shall include the information required under sub. (1) (a), updated to include the contract and any other changes since the last quarterly report submitted under sub. (1)."

SB105-AA1,3,8 (End)