20.505 (6) (f) Law enforcement officer supplement grants to 1st class cities. The amounts in the schedule to provide grants for uniformed law enforcement officers under s. 16.964 (5m).
****NOTE: This SECTION involves a change in an appropriation that must be reflected in the revised schedule in s. 20.005, stats.
(End)
LRB-1611LRB-1611/1
RPN:jld:rs
2007 - 2008 LEGISLATURE
DOA:......Palchik, BB0390 - GPR Appropriation for veterans assistance
For 2007-09 Budget -- Not Ready For Introduction
2007 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
veterans and military affairs
This bill creates a general program revenue annual appropriation for operation of the veterans assistance program.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. 20.485 (2) (ac) of the statutes is created to read:
20.485 (2) (ac) Veterans assistance. From the general fund, the amounts in the schedule for general program operations of the veterans assistance program under s. 45.43.
****NOTE: This SECTION involves a change in an appropriation that must be reflected in the revised schedule in s. 20.005, stats.
(End)
LRB-1618LRB-1618/2
PG:lmk:rs
2007 - 2008 LEGISLATURE
DOA:......Fath, BB0407 - Allow school district to construct a wind electricity generator
For 2007-09 Budget -- Not Ready For Introduction
2007 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
education
Primary and secondary education
The bill authorizes a school board to construct or acquire a wind electricity generation facility and to use or sell the energy generated by the facility.
For further information see the state and local fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. 120.13 (18m) of the statutes is created to read:
120.13 (18m) WIND ELECTRICITY GENERATORS. Construct or acquire, borrow funds to construct or acquire, operate, and maintain a wind electricity generation facility, and use or sell the energy generated by the facility, if the school board's share of the installed capacity of the facility does not exceed 5 megawatts and the school board incorporates information about the facility in its curriculum.
(End)
LRB-1620LRB-1620/2
CMH:jld:rs
2007 - 2008 LEGISLATURE
DOA:......Wavrunek, BB0403 - District attorney funding for Milwaukee County
For 2007-09 Budget -- Not Ready For Introduction
2007 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
Courts and procedure
District attorneys
This bill requires the Office of Justice Assistance to provide $25,000 in fiscal year 2008 to the Milwaukee County District Attorney office to assist in the development of case management processes.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 9101. Nonstatutory provisions; Administration.
(1) DISTRICT ATTORNEY CASE MANAGEMENT PROCESSES. From the appropriation under section 20.505 (6) (a) of the statutes, the office of justice assistance shall provide $25,000 during the 2007-08 fiscal year to the Milwaukee County District Attorney office to assist in the development of case management processes.
(End)
LRB-1621LRB-1621/4
RAC:kjf/wj/cs:jf
2007 - 2008 LEGISLATURE
DOA:......Hoadley, BB0417 - Agreements and ancillary arrangements relating to public debt
For 2007-09 Budget -- Not Ready For Introduction
2007 BILL
AN ACT ...; relating to: agreements and ancillary arrangements relating to public debt and other obligations and making appropriations.
Analysis by the Legislative Reference Bureau
State government
State finance
Currently, the Building Commission (commission) may enter into agreements and ancillary arrangements relating to public debt. This bill provides that, at the time of entering into the agreements or ancillary arrangements, or in anticipation thereof, the commission must determine, if applicable, whether the payment will be deposited into, and whether the payment will be made from, t
he bond security and redemption fund or the capital improvement fund.
The bill also establishes a number of conditions relating to interest exchange agreements. These include all of the following:
1. The commission must contract with an independent financial consulting firm to determine if the terms and conditions of the agreement reflect a fair market value, as of the proposed date of the execution of the agreement.
2. The interest exchange agreement must identify by maturity, bond issue, or bond purpose the debt or obligation to which the agreement is related. The determination of the commission included in an interest exchange agreement that such agreement relates to a debt or obligation is conclusive.
3. The resolution authorizing the commission to enter into any interest exchange agreement must require that the terms and conditions of the agreement reflect a fair market value as of the date of execution of the agreement, as reflected by the determination of an independent financial consulting firm.
4. Finally, the commission must establish guidelines relating to the conditions under which the commission may enter into the agreements; the form and content of the agreements; the aspects of risk exposure associated with the agreements; the standards and procedures for counterparty selection; the standards for the procurement of, and the setting aside of reserves, if any, in connection with, the agreements; the provisions, if any, for collateralization or other requirements for securing any counterparty's obligations under the agreements; and a system for financial monitoring and periodic assessment of the agreements.
The bill further requires that the terms and conditions of an interest exchange agreement entered into by the commission or DOA for an interest exchange agreement must generally not result in both aggregate expected debt service and net exchange payments relating to the agreement in the fiscal year in which the trade is executed being less than those payments that would be payable in that fiscal year if the agreement is not executed and aggregate expected debt service and net exchange payments relating to the agreement in subsequent fiscal years exceeding those payments that would be payable in those fiscal years if the agreement is not executed.
The bill requires DOA to issue a semiannual report that includes a description of each agreement, including a summary of its terms and conditions, rates, maturity, and the estimated market value of each agreement; an accounting of amounts that were required to be paid and received on each agreement; any credit enhancement, liquidity facility, or reserves, including an accounting of the costs and expenses incurred by the state; a description of the counterparty to each agreement; and a description of the counterparty risk, the termination risk, and other risks associated with each agreement.
Under current law, the commission may issue revenue bonds for major highway projects and transportation administrative facilities in a principal amount that, with certain exclusions, may not exceed $2,324,377,900. DOT may deposit in a special trust fund vehicle registration fee revenues and other revenues pledged for the repayment of these revenue bonds. Moneys pledged in excess of the amount needed for repayment of these revenue bonds are transferred back to the transportation fund, free of any pledge.
This bill allows DOT to deposit in this trust fund revenues received under an interest exchange agreement and to make payments under an interest exchange agreement, which amounts are excluded from the limit on revenue bonding.
Under the Clean Water Fund Program, this state provides loans to municipalities for projects to control water pollution, including sewage treatment plants. The program is funded from loan repayments, federal grants, state general obligation bonds, and state revenue bonds. The commission may issue revenue bonds for the Clean Water Fund Program in an amount that does not exceed $1,615,955,000. In addition, the Department of Commerce currently administers a program to reimburse owners of certain petroleum storage tanks for a portion of the costs of cleaning up discharges from those tanks. This program is commonly known as PECFA. PECFA is funded from the petroleum inspection fee and state revenue bonds. The commission may issue revenue bonds for PECFA in an amount that does not exceed $436,000,000. This bill permits the commission to make payments under an agreement or ancillary arrangement with respect to revenue bonds issued for the funding of these two programs.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. 16.527 (4) (e) of the statutes is amended to read:
16.527 (4) (e) At the time of, or in anticipation of, contracting for the appropriation obligations and at any time thereafter so long as the appropriation obligations are outstanding, the department may enter into agreements and ancillary arrangements relating to the appropriation obligations, including trust indentures, liquidity facilities, remarketing or dealer agreements, letter of credit agreements, insurance policies, guaranty agreements, reimbursement agreements, indexing agreements, or interest exchange agreements. Any payments made or received pursuant to any such agreement or ancillary arrangement shall be made from or deposited as provided in the agreement or ancillary arrangement. The determination of the department included in an interest exchange agreement that such agreement relates to an appropriation obligation shall be conclusive.
SECTION 2. 16.527 (4) (h) of the statutes is created to read:
16.527 (4) (h) 1. Subject to subd. 2., the terms and conditions of an interest exchange agreement under par. (e) shall not be structured so that, as of the trade date of the agreement, both of the following are reasonably expected to occur:
a. The aggregate expected debt service and net exchange payments relating to the agreement during the fiscal year in which the trade date occurs will be less than the aggregate expected debt service and net exchange payments relating to the agreement that would be payable during that fiscal year if the agreement is not executed.
b. The aggregate expected debt service and net exchange payments relating to the agreement in subsequent fiscal years will be greater than the aggregate expected debt service and net exchange payments relating to the agreement that would be payable in those fiscal years if the agreement is not executed.
2. Subd. 1. shall not apply if either of the follow occurs:
a. The department receives a determination by the independent financial consulting firm that the terms and conditions of the agreement reflect payments by the state that represent on-market rates as of the trade date for the particular type of agreement.
b. The department provides written notice to the joint committee on finance of its intention to enter into an agreement that is reasonably expected to satisfy subd. 1., and the joint committee on finance either approves or disapproves, in writing, the department's entering into the agreement within 14 days of receiving the written notice from the commission.
3. This paragraph shall not limit the liability of the state under an agreement if actual contracted net exchange payments in any fiscal year exceed original expectations.
SECTION 3. 16.53 (10) (a) of the statutes is amended to read:
16.53 (10) (a) If an emergency arises which requires the department to draw vouchers for payments which will be in excess of available moneys in any state fund, the secretary, after notifying the joint committee on finance under par. (b), may prorate and establish priority schedules for all payments within each fund, including those payments for which a specific payment date is provided by statute, except as otherwise provided in this paragraph. The secretary shall draw all vouchers according to the preference provided in this paragraph. All direct or indirect payments of principal or interest on state bonds and notes issued under subch. I of ch. 18 and payments due, if any, under an agreement or ancillary arrangement entered into under s. 18.06 (8) (a) relating to any public debt contracted under subchs. I and IV of ch. 18 have first priority. All direct or indirect payments of principal or interest on state notes issued under subch. III of ch. 18 have 2nd priority. No payment having a 1st or 2nd priority may be prorated or reduced under this subsection. All state employee payrolls have 3rd priority. The secretary shall draw all remaining vouchers according to a priority determined by the secretary. The secretary shall maintain records of all claims prorated under this subsection.
SECTION 4. 18.01 (1) of the statutes is renumbered 18.01 (1m).
SECTION 5. 18.01 (1e) of the statutes is created to read:
18.01 (1e) "Aggregate expected debt service and net exchange payments" means the sum of the following:
(a) The aggregate net payments expected to be made and received under a specified interest exchange agreement under s. 18.06 (8) (a).
(b) The aggregate debt service expected to be made on bonds related to that agreement.
(c) The aggregate net payments expected to be made and received under all other interest exchange agreements under s. 18.06 (8) (a) relating to those bonds that are in force at the time of executing the agreement.
SECTION 6. 18.01 (4) (intro.) of the statutes is amended to read:
18.01 (4) (intro.) "Public debt" or "debt" means every voluntary, unconditional undertaking by the state, other than an operating note or an interest exchange agreement, to repay a sum certain:
SECTION 7. 18.06 (8) (a) of the statutes is renumbered 18.06 (8) (a) (intro.) and amended to read:
18.06 (8) (a) (intro.) The Subject to pars. (am) and (ar), at the time of, or in anticipation of, contracting public debt and at any time thereafter while the public debt is outstanding, the commission may enter into agreements and ancillary arrangements for relating to the public debt, including liquidity facilities, remarketing or dealer agreements, letter of credit agreements, insurance policies, guaranty agreements, reimbursement agreements, indexing agreements, or interest exchange agreements. The commission shall determine all of the following, if applicable, with respect to any such agreement or ancillary arrangement:
SECTION 8. 18.06 (8) (a) 1. of the statutes is created to read:
18.06 (8) (a) 1. For any payment to be received with respect to the agreement or ancillary arrangement, whether the payment will be deposited into the bond security and redemption fund or the capital improvement fund.
SECTION 9. 18.06 (8) (a) 2. of the statutes is created to read:
