LRB-1470/1
ARG:cjs:rs
2011 - 2012 LEGISLATURE
DOA:......Byrnes, BB0360 - General obligation bonding authority, majors and rehab
For 2011-13 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
transportation
Highways
Under current law, major highway projects and state highway rehabilitation projects may be funded from various sources, including bond proceeds. Various provisions of current law authorize specific maximum levels of general obligation bonding for these projects and the total authorized amount of general obligation bonding available for these projects is the cumulative amount specified in all of these provisions.
Under one of these provisions of current law, the state may contract up to $60,000,000 in public debt to fund state highway rehabilitation projects. This bill increases this authorized general obligation bonding limit to $110,000,000.
Under another of these provisions of current law, the state may contract up to $50,000,000 in public debt to fund major highway projects. This bill increases this authorized general obligation bonding limit to $100,000,000.
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. 20.866 (2) (uus) of the statutes is amended to read:
20.866 (2) (uus) Transportation; major highway projects. From the capital improvement fund, a sum sufficient for the department of transportation to fund major highway projects, as provided under s. 84.56. The state may contract public debt in an amount not to exceed $50,000,000 $100,000,000 for these purposes.
Section
2. 20.866 (2) (uut) of the statutes is amended to read:
20.866 (2) (uut) Transportation; state highway rehabilitation, certain projects. From the capital improvement fund, a sum sufficient for the department of transportation to fund state highway rehabilitation projects, as provided under s. 84.57. The state may contract public debt in an amount not to exceed
$60,000,000 $110,000,000 for this purpose.
(End)
