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LRB-0612/4

ARG:kjf:ph

2013 - 2014 LEGISLATURE

DOA:......Byrnes, BB0257 - GO bonding for southeast freeway megaprojects and high cost state highway bridge projects

For 2013-2015 Budget -- Not Ready For Introduction

An Act ...; relating to: the budget.

Analysis by the Legislative Reference Bureau

transportation

Highways

Current law specifies that southeast Wisconsin freeway megaprojects are highway projects on southeast Wisconsin freeways that have a total cost of more than $500,000,000, as adjusted annually for inflation by DOT. DOT may not provide funding for construction of these projects without legislative approval and the legislature has approved only the I 94 north-south corridor project and the Zoo interchange project. Among the available funding sources for these projects are proceeds from general obligation bonds. The state may contract up to $704,750,000 in public debt, in the form of general obligation bonds, for DOT's funding of the Marquette interchange project, the I 94 north-south corridor project, and the Zoo interchange project.

This bill authorizes an additional $107,000,000 in general obligation bond proceeds to fund the Zoo interchange project and the I 94 north-south corridor project.

Under current law, a "high-cost state highway bridge project" is defined as a project involving the construction or rehabilitation of a bridge on the state trunk highway system that has a total estimated cost of more than $150,000,000. However, a high-cost state highway bridge project does not include any major interstate bridge project, major highway project, or southeast Wisconsin freeway megaproject. With a limited exception for preliminary costs associated with the reconstruction of the Hoan Bridge, DOT may fund high-cost state highway bridge projects only from specified state, federal, and local funds appropriations.

This bill allows general obligation bonds, in an amount not exceeding $200,000,000, to be used to fund high-cost state highway bridge projects.

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. 20.395 (6) (au) of the statutes is amended to read:

20.395 (6) (au) Principal repayment and interest, Marquette interchange, zoo interchange, southeast rehabilitation projects, southeast megaprojects, and I 94 north-south corridor reconstruction high-cost bridge projects, state funds. A sum sufficient to reimburse s. 20.866 (1) (u) for the payment of principal and interest costs incurred in financing the Marquette interchange reconstruction project, the reconstruction of the I 94 north-south corridor and the zoo interchange, and southeast Wisconsin freeway megaprojects, and high-cost state highway bridge projects, as provided under ss. 20.866 (2) (uup) and 84.555, and to make payments under an agreement or ancillary arrangement entered into under s. 18.06 (8) (a).

****Note: This Section involves a change in an appropriation that must be reflected in the revised schedule in s. 20.005, stats.

Section 2. 20.866 (2) (uup) of the statutes is amended to read:

20.866 (2) (uup) Transportation; Marquette interchange, zoo interchange, southeast rehabilitation projects, southeast megaprojects, and I 94 north-south corridor reconstruction high-cost bridge projects. From the capital improvement fund, a sum sufficient for the department of transportation to fund the Marquette interchange reconstruction project under s. 84.014, as provided under s. 84.555, the reconstruction of the I 94 north-south corridor and the zoo interchange, as provided under s. 84.555 (1m), and southeast Wisconsin freeway megaprojects under s. 84.0145, as provided under s. 84.555 (1m), and high-cost state highway bridge projects under s. 84.017, as provided under s. 84.555 (1m). The state may contract public debt in an amount not to exceed $704,750,000 for these purposes. In addition, the state may contract public debt in an amount not to exceed $107,000,000 for the reconstruction of the Zoo interchange and I 94 north-south corridor, as provided under s. 84.555 (1m), as southeast Wisconsin freeway megaprojects under s. 84.0145, and in an amount not to exceed $200,000,000 for high-cost state highway bridge projects under s. 84.017, as provided under s. 84.555 (1m).

****Note: This Section involves a change in an appropriation that must be reflected in the revised schedule in s. 20.005, stats.

Section 3. 84.017 (2) of the statutes is amended to read:

84.017 (2) Subject to sub. (3) and s. 86.255, any high-cost state highway bridge project may be funded only from the appropriations under s. ss. 20.395 (3) (dr), (dw), and (dy) and 20.866 (2) (uup).

****Note: This draft omits reconciled s. 84.555 (1m). The treatment of s. 84.555 (1m) that previously appeared in LRB-0612 has been added to LRB-1169.

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