Amendment JR1 ASA3-AB11

LRBs0084/1

RAC:cjs:ph

January 2011 Special Session

2011 - 2012 LEGISLATURE

ASSEMBLY SUBSTITUTE AMENDMENT 3, TO ASSEMBLY BILL 11

February 22, 2011 - Offered by Representative Staskunas.

AB11-ASA3,1,4 An Act to amend 20.866 (2) (xf) of the statutes; relating to: increasing the amount of public debt that may be contracted to refund any unpaid indebtedness used to finance tax-supported or self-amortizing facilities and granting bonding authority.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

AB11-ASA3, s. 1 Section 1. 20.866 (2) (xf) of the statutes is amended to read:

AB11-ASA3,2,5 20.866 (2) (xf) Building commission; refunding tax-supported and self-amortizing general obligation debt incurred before July 1, 2011. From the capital improvement fund, a sum sufficient to refund the whole or any part of any unpaid indebtedness used to finance tax-supported or self-amortizing facilities. The state may contract public debt in an amount not to exceed $309,000,000 $474,000,000 for this purpose. Such indebtedness shall be construed to include any premium and interest payable with respect thereto. Debt incurred by this paragraph shall be incurred before July 1, 2011, and shall be repaid under the appropriations providing for the retirement of public debt incurred for tax-supported and self-amortizing facilities in proportional amounts to the purposes for which the debt was refinanced.

AB11-ASA3,2,6 (End)