SB259-SA1,2,3
4"5m. If at the end of any fiscal year the authority's fund balance is an amount
5that exceeds an amount equal to 25 percent of its annual operating costs, the
6authority shall return the excess amount to the participating political subdivisions
7based on the amount of property taxes provided to the authority from each
8participating political subdivision as compared to the total amount of property taxes
9provided to the authority from all the participating political subdivisions. No later
10than October 15, the authority shall notify each participating political subdivision
11of the amounts to be distributed to the participating political subdivision in the
12subsequent calendar year. If in any year a participating political subdivision
13receives an amount under this subdivision that exceeds the property tax amount that
1the participating political subdivision levies under subd. 4., the participating
2political subdivision shall reduce its property tax levy by the amount it receives
3under this subdivision, up to the amount levied under subd. 4.".