LRBb1521/1
PG&MES:kmg&cmh:kjf
1999 - 2000 LEGISLATURE
ASSEMBLY AMENDMENT 28,
TO ASSEMBLY AMENDMENT 2,
TO ASSEMBLY SUBSTITUTE AMENDMENT 1,
TO 1999 ASSEMBLY BILL 133
June 29, 1999 - Offered by Representatives Porter, Steinbrink, Kreuser, M.
Lehman and Olsen.
AB133-ASA1-AA2-AA28,1,11
6120.135 Capital improvement fund. (1) By the first day of the 6th month
7commencing after the effective date of this subsection .... [revisor inserts date], by a
8two-thirds vote of the members elect, a school board may adopt a resolution creating
9a capital improvement fund for the purpose of financing the cost of acquiring and
10improving sites, constructing school facilities and major maintenance of or
11remodeling, renovating and improving school facilities.
AB133-ASA1-AA2-AA28,2,11
1(2) If a tax incremental district that is located in whole or in part in the school
2district is terminated before the maximum number of years that the tax incremental
3district would have existed under s. 66.46 (7) (am) or (ar), in each year in which the
4school board adopts a resolution by a two-thirds vote of the members elect expressing
5its intention to do so until the year after the year in which the tax incremental district
6would have been required to terminate under s. 66.46 (7) (am) or (ar), the school
7board shall deposit into the capital improvement fund the percentage specified in the
8resolution of the school district's portion of the positive tax increment of the tax
9incremental district in that year, as determined by the department of revenue under
10s. 66.46. If the value increment is less than $300,000,000, the percentage specified
11in the resolution may not exceed 66.7%.
AB133-ASA1-AA2-AA28,2,14
12(3) The school board shall use the balance of the school district's portion of the
13positive tax increment of the tax incremental district to reduce the levy that
14otherwise would be imposed.
AB133-ASA1-AA2-AA28,2,17
15(4) Money in the capital improvement fund may not be used for any purpose
16or be transferred to any other fund without the approval of a majority of the electors
17of the school district voting on the question at a referendum.
AB133-ASA1-AA2-AA28,2,20
18(5) The school board shall submit a report by January 1 of each odd-numbered
19year to the governor and the joint committee on finance describing the use of the
20moneys deposited into the fund under sub. (1) and the effects of that use.".".
AB133-ASA1-AA2-AA28,2,23
22"827m. Page 1124, line 5: after "commenced" insert "
, excludes any
23expenditures from a capital improvement fund created under s. 120.135".".
AB133-ASA1-AA2-AA28,3,2
1"833m. Page 1126, line 5: after "(a) 3." insert "
, less the amount of any revenue
2limit increase under s. 121.91 (4) (h)".".
AB133-ASA1-AA2-AA28,3,86
121.91
(4) (h) The limit otherwise applicable to a school district under sub. (2m)
7in any school year is increased by an amount equal to the amount deposited into the
8capital improvement fund under s. 120.135 in that school year.".".
