AB100: Bill Text

AB100,493,5 24.66 (4) (a) If any municipality other than a school district is not empowered by law to incur indebtedness for a particular purpose without first submitting the question to its electors, the application for a state trust fund loan for that purpose must be approved and authorized by a majority vote of the electors at a special election called, noticed and held in the manner provided for other special elections. The notice of the election shall state the amount of the proposed loan and the purpose for which it will be used.

AB100, s. 823 Section 823. 24.66 (4) (b) of the statutes is created to read:

AB100,493,17 24.66 (4) (b) If any school district is not empowered by law to incur indebtedness for a particular purpose without first submitting the question to its electors, the application for a state trust fund loan for that purpose must be approved and authorized by a majority vote of the electors at the next regularly scheduled spring election or general election that occurs not sooner than 45 days after the adoption of the resolution under sub. (5) or at a special election held on the Tuesday after the first Monday in November in an odd-numbered year if that date occurs not sooner than 45 days after the adoption of the resolution under sub. (5). The referendum shall be called, noticed and held in the manner provided for other referenda. The notice of the referendum shall state the amount of the proposed loan and the purpose for which it will be used.

AB100, s. 824 Section 824. 24.695 of the statutes is repealed.

AB100, s. 825 Section 825. 24.71 (2) of the statutes is amended to read:

AB100,493,24 24.71 (2) Certified statement. If a school district has a state trust fund loan, the board shall transmit to the school district clerk a certified statement of the amount due on or before October 1 of each year until the loan is paid. The board shall furnish a copy of each certified statement to the state treasurer and the department of education public instruction.

AB100, s. 826 Section 826. 24.78 of the statutes is amended to read:

AB100,494,4 24.78 Distribution of the common school fund income. Under article X, section 5, of the constitution the common school fund income shall be distributed to the school districts among the several towns, villages and cities of the state for the support of common schools therein, as provided in s. ss. 44.72 (2) (a) and 43.70.

AB100, s. 827 Section 827. 25.156 (3) of the statutes is amended to read:

AB100,494,10 25.156 (3) The members of the board shall appoint an investment director or the executive assistant to the executive director, internal auditor, chief investment officer, chief financial officer, chief legal counsel or chief risk officer to act as assistant director, except that until the appointment is made by the members of the board, the executive director may temporarily designate the assistant director.

AB100, s. 828 Section 828. 25.156 (4) of the statutes is amended to read:

AB100,494,21 25.156 (4) The members of the board shall promulgate rules restricting the executive director, executive assistant to the executive director, internal auditor, chief investment officer, chief financial officer, chief legal counsel, chief risk officer, investment directors and employes from having financial interest, directly or indirectly, in firms or corporations providing services to the department and governing the receipt of gifts or favors therefrom, and also governing personal investments of all employes including the executive director, executive assistant to the executive director, internal auditor, chief investment officer , chief financial officer, chief legal counsel, chief risk officer and investment directors to prevent conflicts of interest.

AB100, s. 829 Section 829. 25.156 (6) (intro.) of the statutes is amended to read:

AB100,495,17 25.156 (6) (intro.) The investment board may provide a plan of bonus compensation for the executive director and other employes of the board who are appointed in the unclassified service, whereby the under which employes covered by the plan may qualify for an annual bonus for meritorious performance. The plan shall cover the executive director and other employes of the board who are appointed in the unclassified service, except that the plan may not cover an employe who performs functions primarily related to information technology if that employe is appointed after the effective date of this subsection .... [revisor inserts date]. No such bonuses awarded by the board for any fiscal year may exceed a total of 10% of the total annualized salaries of all unclassified employes of the board covered by the plan at the beginning of the fiscal year. No bonus awarded by the board to any individual employe for any fiscal year may exceed a total of 25% of the annual salary of the employe at the beginning of the fiscal year. In awarding bonus compensation for a given period, the board shall consider the performance of funds similar to those for which it has managing authority and market indices for the same period. The board shall provide for a portion of the bonus compensation awarded under this subsection to be distributed to an employe over a 3-year period conditioned upon continuation of employment to the time of distribution, except as provided in sub. (7). Bonus compensation may only be awarded under this subsection pursuant to a plan adopted by the board that specifies all of the following:

AB100, s. 830 Section 830. 25.156 (6) (d) of the statutes is created to read:

AB100,495,20 25.156 (6) (d) The unclassified positions of the board that perform functions primarily related to information technology.

AB100, s. 831 Section 831. 25.16 (2) of the statutes is amended to read:

AB100,496,10 25.16 (2) Subject to authorization under s. 16.505, the executive director may appoint one division administrator a chief legal counsel, chief financial officer, chief risk officer and investment directors and shall appoint a chief investment officer and all other employes necessary to carry out the functions of the investment board, except that the investment board shall appoint the internal auditor and shall participate in the selection of the chief investment officer and investment directors and the internal auditor shall appoint his or her staff. The executive director shall appoint all employes outside the classified service, except blue collar and clerical employes. Neither the executive director, the internal auditor, the chief investment officer, the chief legal counsel, the chief financial officer, the chief risk officer, any investment director nor any other employe of the board shall have any financial interest, either directly or indirectly, in any firm engaged in the sale or marketing of real estate or investments of any kind, nor shall any of them render investment advice to others for remuneration.

AB100, s. 832 Section 832. 25.17 (1) (ag) of the statutes is repealed.

AB100, s. 833 Section 833. 25.17 (1) (tm) of the statutes is created to read:

AB100,496,13 25.17 (1) (tm) Support collections trust fund (s. 25.68);

AB100, s. 834 Section 834. 25.17 (1) (xL) of the statutes is created to read:

AB100,496,15 25.17 (1) (xL) Universal service fund (s. 25.95);

AB100, s. 835 Section 835. 25.17 (2) (d) of the statutes is amended to read:

AB100,496,23 25.17 (2) (d) Invest the clean water environmental improvement fund, and collect the principal and interest of all moneys loaned or invested from the clean water environmental improvement fund, as directed by the department of administration under s. 281.59 (2m). In making such investment, the investment board shall accept any reasonable terms and conditions that the department of administration specifies and is relieved of any obligations relevant to prudent investment of the fund, including those set forth under ch. 881.

AB100, s. 836 Section 836. 25.17 (2) (e) of the statutes is created to read:

AB100,497,7 25.17 (2) (e) Invest the transportation infrastructure loan fund, and collect the principal and interest of all moneys loaned or invested from transportation infrastructure loan fund, as directed by the department of administration under s. 85.52 (4m). In making such investment, the investment board shall accept any reasonable terms and conditions that the department of administration specifies and is relieved of any obligations relevant to prudent investment of the fund, including those set forth under ch. 881.

AB100, s. 837 Section 837. 25.17 (13m) of the statutes is created to read:

AB100,497,11 25.17 (13m) No later than 45 days after the end of each calendar quarter, submit a report to the department of administration detailing all costs and expenses charged to funds under s. 25.18 (1) (a) or (m) during that calendar quarter.

AB100, s. 838 Section 838. 25.17 (14) (intro.) of the statutes is amended to read:

AB100,497,18 25.17 (14) (intro.)  The investment board shall, as As of December 31 of each year, make and file with the department of employe trust funds a report of the value of the assets of the fixed retirement investment trust and of the variable retirement investment trust, determined as of that date at market value for the variable retirement investment trust and on the following basis for the fixed retirement investment trust:

AB100, s. 839 Section 839. 25.17 (70) (a) of the statutes is amended to read:

AB100,498,2 25.17 (70) (a) No later than June 30 of every odd-numbered year, after receiving a report from the department of commerce under s. 560.08 (2) (m) and in consultation consulting with the department of commerce, submit to the governor and to the presiding officer of each house of the legislature a plan for making investments in this state. The purpose of the plan is to encourage the board to make the maximum amount of investments in this state, subject to s. 25.15 and consistent with the statutory purpose of each trust or fund managed by the board.

AB100, s. 840 Section 840. 25.17 (70) (b) 1. of the statutes is amended to read:

AB100,498,6 25.17 (70) (b) 1. A report from the department of commerce under s. 560.08 (2) (m) describing the types of investments in businesses in this state which will have the greatest likelihood of enhancing economic development in this state.

AB100, s. 841 Section 841. 25.18 (1) (a) of the statutes is amended to read:

AB100,498,18 25.18 (1) (a) Notwithstanding subch. IV of ch. 16 and s. 20.930, employ special legal or investment counsel in any matters arising out of the scope of its investment authority. The employment of special legal counsel shall be with the advice and consent of the attorney general whenever such special counsel is to be compensated by the board. Any expense of counsel so employed shall be borne by the current income account of the fund for which the services shall be furnished, except that the fixed retirement investment fund may bear this expense from its transaction amortization account and except that expenses may not be charged to a fund under this paragraph if the expenses are for data processing services, information technology and telecommunications services, accounting services other than actuarial services, or general management services.

AB100, s. 842 Section 842. 25.18 (1) (m) of the statutes is amended to read:

AB100,499,3 25.18 (1) (m) Notwithstanding subchs. IV and V of ch. 16, employ professionals, contractors or other agents necessary to evaluate or operate any property if a fund managed by the board has an interest in, or is considering purchasing or lending money based upon the value of, that property. Costs under this paragraph shall be paid by the fund and charged to the appropriate current income account under s. 40.04 (3), except that costs may not be paid by a fund under this paragraph if the costs are for data processing services, information technology and telecommunications services, accounting services other than actuarial services, or general management services.

AB100, s. 843 Section 843. 25.28 of the statutes is repealed.

AB100, s. 844 Section 844. 25.29 (1) (a) of the statutes is amended to read:

AB100,499,10 25.29 (1) (a) Except as provided in s. 25.295, all moneys accruing to the state for or in behalf of the department under chs. 26, 27, 28, 29 and 350, subchs. I and VI of ch. 77 and ss. 23.09 to 23.31, 23.325 to 23.42, 23.50 to 23.99, 30.50 to 30.55, 70.58 and 71.10 (5), including grants received from the federal government or any of its agencies except as otherwise provided by law.

AB100, s. 845 Section 845. 25.29 (1) (b) of the statutes is amended to read:

AB100,499,14 25.29 (1) (b) One percent of all sales and use taxes under s. 77.61 (1) on all-terrain vehicles, boats and snowmobiles collected by the department under ss. 23.33, 30.52 (4) and, 350.12 (7) and 350.122.

AB100, s. 846 Section 846. 25.29 (1) (d) 1. of the statutes is amended to read:

AB100,499,19 25.29 (1) (d) 1. An amount calculated by multiplying the number of snowmobiles registered under s. 350.12 or 350.122 on the last day of February of the previous fiscal year by 50 gallons and multiplying that product by the excise tax imposed under s. 78.01 (1) on the last day of February of the previous fiscal year.

AB100, s. 847 Section 847. 25.29 (1) (dm) of the statutes is amended to read:

AB100,500,3 25.29 (1) (dm) For fiscal year 1991-92 and for each fiscal year thereafter, an amount equal to the estimated all-terrain vehicle gas tax payment. The estimated all-terrain vehicle gas tax payment is calculated by multiplying the sum of the number of all-terrain vehicles registered for public use under s. 23.33 (2) (c) or (2g) and the number of reflectorized plates issued under s. 23.33 (2) (dm) on the last day of February of the previous fiscal year by 25 gallons and multiplying that product by the excise tax imposed under s. 78.01 (1) on the last day of February of the previous fiscal year.

AB100, s. 848 Section 848. 25.36 (1) of the statutes is amended to read:

AB100,500,24 25.36 (1) Except as provided in sub. (2), all moneys appropriated or transferred by law shall constitute the veterans trust fund which shall be used exclusively for the purchase of mortgages issued with the proceeds of the 1981 veterans home loan revenue bond issuance in an amount sufficient to retire that bond issue or for the veterans programs under ss. 20.485 (2) (m), (mn), (tm), (u), (v), (vo), (w), (z) and (zm), 45.01, 45.25, 45.351 (1) and (2), 45.353, 45.356, 45.357, 45.396, 45.397 and 45.43 (7) and administered by the department of veterans affairs, including all moneys received from the federal government for the benefit of veterans or their dependents; all moneys paid as interest on and repayment of loans under the post-war rehabilitation fund; soldiers rehabilitation fund, veterans housing funds as they existed prior to July 1, 1961; all moneys paid as interest on and repayment of loans under this fund; all moneys paid as expenses for, interest on and repayment of veterans trust fund stabilization loans under s. 45.356, 1995 stats.; all moneys paid as expenses for, interest on and repayment of veterans personal loans; the net proceeds from the sale of mortgaged properties related to veterans personal loans; all mortgages issued with the proceeds of the 1981 veterans home loan revenue bond issuance purchased with moneys in the veterans trust fund; all moneys received from the state investment board under s. 45.356 (9) (b); all moneys received from the veterans mortgage loan repayment fund under s. 45.79 (7) (a) and (c); and all gifts of money received by the board of veterans affairs for the purposes of this fund.

AB100, s. 849 Section 849. 25.40 (1) (a) 5m. of the statutes is created to read:

AB100,501,2 25.40 (1) (a) 5m. Fees collected under s. 342.14 (1r) that are deposited in the environmental fund for environmental management.

AB100, s. 850 Section 850. 25.40 (1) (a) 13. of the statutes is created to read:

AB100,501,5 25.40 (1) (a) 13. Moneys received under s. 110.065 that are deposited in the general fund and credited to the appropriation account under s. 20.395 (5) (dh).

AB100, s. 851 Section 851. 25.40 (1) (a) 14. of the statutes is created to read:

AB100,501,8 25.40 (1) (a) 14. Fees received under ss. 85.51 and 348.26 (2) that are deposited in the general fund and credited to the appropriation account under s. 20.395 (5) (dg).

AB100, s. 852 Section 852. 25.40 (1) (a) 15. of the statutes is created to read:

AB100,501,11 25.40 (1) (a) 15. Moneys received under s. 85.52 that are deposited in the transportation infrastructure loan fund.

AB100, s. 853 Section 853. 25.40 (2) (b) 9m. of the statutes is renumbered 25.40 (2) (b) 11m. and amended to read:

AB100,501,14 25.40 (2) (b) 11m. Section 20.370 (1) (mr) (7) (fq).

AB100, s. 854 Section 854. 25.40 (2) (b) 15. of the statutes is amended to read:

AB100,501,16 25.40 (2) (b) 15. Section 20.435 (1) (5) (rm).

AB100, s. 855 Section 855. 25.405 of the statutes is created to read:

AB100,501,19 25.405 Transportation infrastructure loan fund. (1) Definition. In this section, "fund" means the transportation infrastructure loan fund.

AB100,501,21 (2) Creation. There is established a separate nonlapsible trust fund designated as the transportation infrastructure loan fund, to consist of:

AB100,501,23 (a) 1. All moneys received from the federal government under P.L. 104-59, section 350, designated for transit projects.

AB100,501,25 2. All moneys received from the federal government under P.L. 104-59, section 350, designated for highway projects.

AB100,502,2 (b) All moneys appropriated under s. 20.395 (2) (pq) or transferred to the fund to meet the requirements for state deposits under P.L. 104-59, section 350.

AB100,502,4 (c) All repayments of principal and payments of interest on loans made under s. 85.52 (3).

AB100,502,6 (d) All moneys received by the fund from the proceeds of the issuance of revenue obligations under ch. 18 for the purpose of s. 85.52.

AB100,502,7 (e) All gifts, grants and bequests to the fund.

AB100,502,13 (3) Separate accounts. (a) There is established in the fund a transit account consisting of all moneys received under sub. (2) (a) 1., moneys received under sub. (2) (b) designated by the department of transportation for transit projects and moneys received under sub. (2) (e) designated by the department of transportation for transit projects, revenue obligation proceeds under sub. (2) (d) designated for transit projects and all transit account loan repayments under sub. (2) (c).

AB100,502,19 (b) There is established in the fund a highway account consisting of all moneys received under sub. (2) (a) 2., moneys received under sub. (2) (b) designated by the department of transportation for highway projects and moneys received under sub. (2) (e) designated for highway projects, revenue obligation proceeds under sub. (2) (d) designated for highway projects and all highway account loan repayments under sub. (2) (c).

AB100,502,23 (c) The department of administration may establish additional accounts in the fund and, except for the accounts under pars. (a) and (b), may change accounts in the fund. The department of administration shall consult the department of transportation before establishing or changing an account under this paragraph.

AB100, s. 856 Section 856. 25.43 (title) and (1) (intro.) of the statutes are amended to read:

AB100,503,3 25.43 (title) Clean water Environmental improvement fund. (1) (intro.) There is established a separate nonlapsible trust fund designated as the clean water environmental improvement fund, to consist of all of the following:

AB100, s. 857 Section 857. 25.43 (1) (am) of the statutes is created to read:

AB100,503,6 25.43 (1) (am) All capitalization grants provided by the federal government under 42 USC 300j-12.

AB100, s. 858 Section 858. 25.43 (1) (b) of the statutes is amended to read:

AB100,503,10 25.43 (1) (b) All state funds appropriated or transferred to the clean water environmental improvement fund to meet the requirements for state deposits under 33 USC 1382.

AB100, s. 859 Section 859. 25.43 (1) (bm) of the statutes is created to read:

AB100,503,14 25.43 (1) (bm) All state funds appropriated or transferred to the environmental improvement fund to meet the requirements for state deposits under 42 USC 300j-12.

AB100, s. 860 Section 860. 25.43 (1) (c) of the statutes is amended to read:

AB100,503,17 25.43 (1) (c) All other appropriations and transfers of state funds to the clean water environmental improvement fund.

AB100, s. 861 Section 861. 25.43 (1) (d) of the statutes is amended to read:

AB100,503,20 25.43 (1) (d) All gifts, grants and bequests to the clean water environmental improvement fund.

AB100, s. 862 Section 862. 25.43 (1) (e) of the statutes is amended to read:

AB100,503,24 25.43 (1) (e) All repayments of principal and payment payments of interest on loans made from the clean water environmental improvement fund and on obligations acquired by the department of administration under s. 281.59 (12).