LRB-4199/1
MJL:kaf:lp
1997 - 1998 LEGISLATURE
December 23, 1997 - Introduced by Representatives Schneider, J. Lehman,
Gronemus, Robson, Ryba and Plouff, cosponsored by Senators Shibilski and
Breske. Referred to Committee on Ways and Means.
AB684,1,3
1An Act to create 121.91 (4) (c) 3. of the statutes;
relating to: increasing a school
2district's revenue limit for debt service incurred to comply with an order issued
3by a court or by a state or federal agency.
Analysis by the Legislative Reference Bureau
Current law generally limits the increase in the total amount of revenue that
a school district may receive from general school aids and property taxes to $206 per
pupil in the 1997-98 school year and, in subsequent school years, to the amount of
revenue increase allowed per pupil in the previous school year increased by the
percentage change in the consumer price index. Several exceptions exist. A school
district's limit is increased by funds needed to pay any general obligation debt
service, including refinanced debt, authorized by a resolution of the school board or
by referendum before August 12, 1993, and is increased by funds needed to pay any
general obligation debt service, including refinanced debt, authorized by a
referendum.
This bill increases a school district's revenue limit in any school year by the
funds needed to pay any general obligation debt service, including refinanced debt,
if the debt was contracted to comply with an order issued by a court or a state or
federal agency and the borrowing was authorized by a resolution of the school board.
For further information see the state and local 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:
AB684, s. 1
1Section
1. 121.91 (4) (c) 3. of the statutes is created to read:
AB684,2,72
121.91
(4) (c) 3. Funds needed to pay issuance costs, redemption premiums and
3debt service on general obligation debt contracted to comply with an order issued by
4a court or a state or federal agency, including funds needed to pay any issuance costs,
5redemption premiums or debt service on general obligation debt issued or reissued
6to fund or refund that debt, authorized by a resolution of the school board and secured
7by the full faith and credit of the school district.
AB684,2,109
(1) This act first applies to the calculation of a school district's revenue limit
10in the first school year beginning after the effective date of this subsection.
