LRB-0748/P2
EVM:jld:jm
2015 - 2016 LEGISLATURE
DOA:......Mette, BB0255 - Bonding authority for freight rail preservation program
For 2015-2017 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
transportation
Rail and air transportation
Under current law, the state may contract up to $208,500,000 in public debt for DOT to acquire railroad property and to provide grants and loans for railroad property acquisitions and improvements. Also under current law, the state may contract up to $122,000,000 in public debt to fund rail passenger route development.
This bill increases the authorized general obligation bonding limit for railroad property acquisition and improvement to $251,500,000 and reduces the limit for rail passenger route development to $79,000,000.
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) (up) of the statutes is amended to read:
20.866 (2) (up) Transportation; rail passenger route development. From the capital improvement fund, a sum sufficient for the department of transportation to fund rail passenger route development under s. 85.061 (3). The state may contract public debt in an amount not to exceed $122,000,000
$79,000,000 for this purpose. Of this amount, not more than $10,000,000 may be used to fund the purposes specified in s. 85.061 (3) (a) 2. and 3.
Section
2. 20.866 (2) (uw) of the statutes is amended to read:
20.866 (2) (uw) Transportation; rail acquisitions and improvements. From the capital improvement fund, a sum sufficient for the department of transportation to acquire railroad property under ss. 85.08 (2) (L) and 85.09; and to provide grants and loans for rail property acquisitions and improvements under s. 85.08 (4m) (c) and (d). The state may contract public debt in an amount not to exceed $208,500,000 $251,500,000 for these purposes.
(End)
