Amendment AA91-ASA1-SB55

LRBb1891/1

RAC&ISR:jld&hmh:pg

2001 - 2002 LEGISLATURE

ASSEMBLY AMENDMENT 91, TO ASSEMBLY SUBSTITUTE AMENDMENT 1, TO 2001 SENATE BILL 55

June 29, 2001 - Offered by Representative Bock.

SB55-ASA1-AA91,1,1 At the locations indicated, amend the substitute amendment as follows:

SB55-ASA1-AA91,1,2 1. Page 48, line 19: delete lines 19 and 20 and substitute:

SB55-ASA1-AA91,1,4 "(4) If the state has not received in fiscal year 2002-03 at least $15,345,100 under the tobacco".

SB55-ASA1-AA91,1,6 2. Page 48, line 23: delete the material beginning with "in" and ending with "agreement" on line 25.

SB55-ASA1-AA91,1,7 3. Page 49, line 2: delete "the" and substitute "that".

SB55-ASA1-AA91,1,8 4. Page 49, line 2: after that line insert:

SB55-ASA1-AA91,2,2 "(5m) The secretary shall transfer from the permanent endowment fund to the tobacco settlement endowment fund an amount that equals $250,000,000, but only if the state has received from the sale of the state's right to receive any of the payments under the tobacco settlement agreement the amount that is required to fund the transfer under s. 20.855 (4) (rc).

SB55-ASA1-AA91,2,5 (6) (a) 1. Subject to subd. 2., annually, beginning in the 2003-04 fiscal year, the secretary shall transfer from the tobacco settlement endowment fund to the tobacco control fund an amount that equals $21,000,000.

SB55-ASA1-AA91,2,9 2. If the transfer under subd. 1. would cause the balance in the tobacco settlement endowment fund to be less that $250,000,000, the secretary shall reduce the amount of the transfer in subd. 1. to an amount that would cause the balance in the tobacco settlement endowment fund to equal $250,000,000.

SB55-ASA1-AA91,2,13 (b) If the amount transferred under par. (a) is $21,000,000 and if the remaining balance in the tobacco settlement endowment fund after the transfer is greater than $500,000,000, the secretary shall transfer the amount that exceeds $500,000,000 to the general fund.".

SB55-ASA1-AA91,2,14 5. Page 369, line 2: after that line insert:

SB55-ASA1-AA91,2,15 " Section 732t. 20.436 (1) (tc) of the statutes is amended to read:

SB55-ASA1-AA91,2,19 20.436 (1) (tc) Grants. As a continuing appropriation, the amounts in the schedule All moneys transferred from the tobacco settlement endowment fund under s. 16.519 (6) (a) less the amounts appropriated under par. (tb), for the purposes specified under s. 255.15 (3).".

SB55-ASA1-AA91,2,20 6. Page 469, line 2: after that line insert:

SB55-ASA1-AA91,2,21 " Section 1110g. 25.17 (1) (tg) of the statutes is created to read:

SB55-ASA1-AA91,2,22 25.17 (1) (tg) Tobacco settlement endowment fund (s. 25.92).".

SB55-ASA1-AA91,2,23 7. Page 470, line 13: after that line insert:

SB55-ASA1-AA91,2,24 " Section 1113r. 25.183 (4) of the statutes is created to read:

SB55-ASA1-AA91,3,4 25.183 (4) Investment of tobacco settlement endowment fund. The board may not invest any of the assets in the tobacco settlement endowment fund in a parent company of a tobacco manufacturer or a subsidiary of a tobacco manufacturer.".

SB55-ASA1-AA91,3,5 8. Page 474, line 8: after that line insert:

SB55-ASA1-AA91,3,6 " Section 1136d. 25.66 (1) (d) of the statutes is created to read:

SB55-ASA1-AA91,3,8 25.66 (1) (d) All moneys transferred from the tobacco settlement endowment fund under s. 16.519 (6) (a).".

SB55-ASA1-AA91,3,10 9. Page 474, line 16: delete the material beginning with "Beginning" and ending with "if" and substitute "If".

SB55-ASA1-AA91,3,11 10. Page 474, line 16: after "received" insert "in fiscal year 2002-03".

SB55-ASA1-AA91,3,13 11. Page 474, line 17: delete the material beginning with "in that" and ending with "thereafter".

SB55-ASA1-AA91,3,15 12. Page 475, line 14: after "(rv)" insert "and to make the transfer under s. 16.519 (5m)".

SB55-ASA1-AA91,3,17 13. Page 475, line 23: after "(rv)" insert "and to make the transfer under s. 16.519 (5m)".

SB55-ASA1-AA91,3,18 14. Page 477, line 12: after that line insert:

SB55-ASA1-AA91,3,19 " Section 1145g. 25.92 of the statutes is created to read:

SB55-ASA1-AA91,3,22 25.92 Tobacco settlement endowment fund. There is created a separate nonlapsible fund designated as the tobacco settlement endowment fund, consisting of moneys transferred from the permanent endowment fund under s. 16.519 (5m).".

SB55-ASA1-AA91,3,23 15. Page 1424, line 16: after that line insert:

SB55-ASA1-AA91,4,2 "(2f) Tobacco settlement endowment fund. The treatment of section 20.436 (1) (tc) of the statutes takes effect on July 1, 2003.".

SB55-ASA1-AA91,4,3 (End)