LRB-0549/P3
EVM:jld
2017 - 2018 LEGISLATURE
DOA:......Mette, BB0185 - Petroleum inspection fund transfer
For 2017-2019 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
transportation
Other transportation
Under this bill, beginning on June 30, 2020, the secretary of administration must annually transfer from the petroleum inspection fund to the transportation fund the unencumbered balance of the petroleum inspection fund, less a reserve amount.
This bill also transfers $24,000,000 from the petroleum inspection fund to the transportation fund in each year of the fiscal biennium.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section
1. 16.5185 (intro.) of the statutes is renumbered 16.5185 (1) (intro.).
Section
2. 16.5185 (1) of the statutes is renumbered 16.5185 (1) (a).
Section
3. 16.5185 (2) of the statutes is renumbered 16.5185 (1) (b).
Section
4. 16.5185 (2m) of the statutes is created to read:
16.5185 (2m) Beginning on June 30, 2020, in each fiscal year, the secretary shall transfer the unencumbered balance of the petroleum inspection fund on June 30, less an amount sufficient to meet the reserve requirement under this subsection, from the petroleum inspection fund to the transportation fund. The petroleum inspection fund balance after a transfer under this subsection may not be less than 5 percent of gross revenues received during the fiscal year in which the transfer is made.
Section 9245.
Fiscal changes; Transportation.
(1) Transfer from petroleum inspection fund to transportation fund. There is transferred from the petroleum inspection fund to the transportation fund $24,000,000 in each fiscal year of the 2017-19 fiscal biennium.
(End)
