AB218: Bill Text

AB218,18,22 18.60 (5) (intro.) All of the following provisions of s. 18.56 that are not inconsistent with the express provisions of this section shall apply to refunding bonds, except that the maximum permissible term shall be 50 years from the date of original issue of the oldest note or bond issue being refunded.:

AB218, s. 31 Section 31. 18.60 (5) (a) to (c) of the statutes are created to read:

AB218,18,24 18.60 (5) (a) Section 18.56.

AB218,18,25 (b) In the case of enterprise obligations, s. 18.561.

AB218,19,1 (c) In the case of special fund obligations, s. 18.562.

AB218, s. 32 Section 32. 18.61 (2) of the statutes is amended to read:

AB218,19,11 18.61 (2) The state pledges and agrees with the holders owners of any evidences of revenue obligation obligations that the state will not limit or alter its powers to fulfill the terms of any agreements made with the holders owners or in any way impair the rights and remedies of the holders owners until the revenue obligations, together with interest including interest on any unpaid instalments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of the holders owners, are fully met and discharged. The commission may include this pledge and agreement of the state in any agreement with the holders of notes or bonds and in any evidence owners of revenue obligation.

AB218, s. 33 Section 33. 18.61 (3) (a) of the statutes is amended to read:

AB218,19,21 18.61 (3) (a) If the state fails to pay any revenue obligation in accordance with its terms, and default continues for a period of 30 days or if the state fails or refuses to comply with this subchapter or defaults in any agreement made with the holders owners of any issue of revenue obligations, the holders owners of 25% in aggregate principal amount of the revenue obligations of the issue then outstanding by instrument recorded in the office of the register of deeds of Dane county and approved or acknowledged in the same manner as a deed to be recorded may appoint a trustee to represent the holders owners of the notes or bonds revenue obligations for the purposes specifically provided in the instrument.

AB218, s. 34 Section 34. 18.61 (3) (b) (intro.) of the statutes is amended to read:

AB218,19,25 18.61 (3) (b) (intro.) The trustee may, and upon written request of the holders owners of 25% in aggregate principal amount of the revenue obligations of the issue then outstanding shall, in the trustee's own name:

AB218, s. 35 Section 35. 18.61 (3) (b) 1. of the statutes is amended to read:

AB218,20,7 18.61 (3) (b) 1. By action or proceeding, enforce all rights of all holders owners of the issue of revenue obligations, including the right to require the state to collect enterprise or program income adequate to carry out any agreement as to, or pledge of, such income and to require the state to carry out any other agreements with the holders owners of the revenue obligations and to perform its duties under this subchapter;

AB218, s. 36 Section 36. 18.61 (3) (b) 3. of the statutes is amended to read:

AB218,20,10 18.61 (3) (b) 3. By action, require the state to account as if it were the trustee of an express trust for the holders owners of the revenue obligations;

AB218, s. 37 Section 37. 18.61 (3) (b) 4. of the statutes is amended to read:

AB218,20,13 18.61 (3) (b) 4. By action, enjoin any acts or things which may be unlawful or in violation of the rights of the holders owners of the revenue obligations; and

AB218, s. 38 Section 38. 18.61 (3) (c) of the statutes is amended to read:

AB218,20,18 18.61 (3) (c) The trustee shall have all of the powers necessary or appropriate for the exercise of any functions specifically set forth in this subchapter or incident to the general representation of the holders owners of revenue obligations in the enforcement and protection of their rights.

AB218, s. 39 Section 39. 18.61 (4) of the statutes is amended to read:

AB218,21,2 18.61 (4) Any public officer or public employe, as defined in s. 939.22 (30), and the surety on the person's official bond, or any other person participating in any direct or indirect impairment of any fund established under this subchapter, shall be liable in any action brought by the attorney general in the name of the state, or by any taxpayer of the state, or by the holder of any evidence owner of revenue obligation payable in whole or in part, directly or indirectly, out of such fund, to restore to the fund all diversions from the fund.

AB218, s. 40 Section 40. 20.143 (3) (s) of the statutes is created to read:

AB218,21,11 20.143 (3) (s) Petroleum inspection fund — revenue obligation proceeds. As a continuing appropriation, all proceeds from revenue obligations that are issued under subch. II or IV of ch. 18, authorized under s. 101.143 (9m) and deposited in a fund in the state treasury created under s. 18.57 (1), to provide for reserves and for expenses of issuance and management of the revenue obligations, and the remainder to be transferred to the petroleum inspection fund for the purposes of the petroleum storage remedial action program under s. 101.143. Estimated disbursements under this paragraph shall not be included in the schedule under s. 20.005.

AB218, s. 41 Section 41. 20.143 (3) (t) of the statutes is created to read:

AB218,21,16 20.143 (3) (t) Petroleum inspection fund -- revenue obligation repayment. From the petroleum inspection fund, a sum sufficient to repay the fund in the state treasury created under s. 18.57 (1) the amount needed to retire revenue obligations issued under subch. II or IV of ch. 18, as authorized under s. 101.143 (9m).

AB218, s. 42 Section 42. 20.143 (3) (u) of the statutes is created to read:

AB218,22,2 20.143 (3) (u) Revenue obligation debt service -- petroleum inspection fund. From the fund in the state treasury created under s. 18.57 (1), all moneys received by the fund for the purpose of the retirement of revenue obligations, providing for reserves and for operations relating to the management and retirement of revenue obligations issued under subch. II or IV of ch. 18, as authorized under s. 101.143 (9m). All moneys received by the fund are irrevocably appropriated in accordance with subch. II of ch. 18 and further established in resolutions authorizing the issuance of the revenue obligations and setting forth the distribution of funds to be received thereafter. Estimated disbursements under this paragraph shall not be included in the schedule under s. 20.005.

AB218, s. 43 Section 43. 20.143 (3) (v) of the statutes is amended to read:

AB218,22,9 20.143 (3) (v) Petroleum storage environmental remedial action; awards. Biennially, from the petroleum inspection fund, the amounts in the schedule to pay awards under s. 101.143 and, legal costs incurred under s. 101.143 (7m), amounts to reduce principal of outstanding revenue obligations issued pursuant to s. 101.143 (9m) and, if the department promulgates rules under s. 101.143 (2) (i) 1., to purchase, or provide funding to purchase, insurance described in s. 101.143 (2) (i) 2.

AB218, s. 44 Section 44. 20.143 (3) (vb) of the statutes is created to read:

AB218,22,16 20.143 (3) (vb) Petroleum storage environmental remedial action revenue bonding; awards. From the petroleum inspection fund, a sum sufficient not to exceed the net proceeds of special fund obligations issued pursuant to s. 101.143 (9m) to pay awards under s. 101.143 (4) and legal costs incurred under s. 101.143 (7m). Estimated disbursements under this paragraph shall not be included in the schedule under s. 20.005.

AB218, s. 45 Section 45. 25.47 of the statutes is renumbered 25.47 (intro.) and amended to read:

AB218,22,20 25.47 Petroleum inspection fund. (intro.) There is established a separate nonlapsible trust fund designated as the petroleum inspection fund, to consist of the:

AB218,22,21 (1) The fees imposed under s. 168.12 (1), the.

AB218,22,22 (2) The payments under s. 101.143 (4) (h) 1m., the

AB218,22,23 (3) The payments under s. 101.143 (5) (a) and the.

AB218,22,24 (4) The net recoveries under s. 101.143 (5) (c).

AB218, s. 46 Section 46. 25.47 (5) of the statutes is created to read:

AB218,23,2 25.47 (5) The moneys transferred from the appropriation account under s. 20.143 (3) (s).

AB218, s. 47 Section 47. 45.79 (9) (a) of the statutes is amended to read:

AB218,23,14 45.79 (9) (a) All moneys received from any source for repayment of loans, mortgages or mortgage loan notes funded with proceeds of revenue obligations issued under sub. (6) (c) shall be deposited into one or more separate nonlapsible trust funds in the state treasury or with a trustee as provided in s. 18.56 18.561 (9) (j) or 18.562 (5) (e). The board may pledge revenues received by the funds to secure revenue obligations issued under sub. (6) (c) and shall have all other powers necessary and convenient to distribute the proceeds of the revenue obligations and loan repayments in accordance with subch. II of ch. 18. Unrestricted balances in the funds may be used to fund additional loans issued under sub. (6) (c) and pay the balances owing on loans after the assumptions of the loans or the closings of the sales of residences under sub. (10) (c).

AB218, s. 48 Section 48. 84.59 (2) of the statutes is amended to read:

AB218,23,21 84.59 (2) The department may, under s. 18.56 18.561 (5) and (9) (j) or 18.562 (3) and (5) (e), deposit in a separate and distinct fund outside the state treasury, in an account maintained by a trustee, revenues derived under s. 341.25. The revenues deposited are the trustee's revenues in accordance with the agreement between this state and the trustee or in accordance with the resolution pledging the revenues to the repayment of revenue obligations issued under this section.

AB218, s. 49 Section 49. 85.52 (5) (c) of the statutes is amended to read:

AB218,24,5 85.52 (5) (c) The department of administration may, under s. 18.56 18.561 (5) and (9) (j) or 18.562 (3) and (5) (e), deposit in a separate and distinct fund in the state treasury or in an account maintained by a trustee outside the state treasury, any portion of the revenues derived under s. 25.405 (2). The revenues deposited with a trustee outside the state treasury are the trustee's revenues in accordance with the agreement between this state and the trustee or in accordance with the resolution pledging the revenues to the repayment of revenue obligations issued under this subsection.

AB218, s. 50 Section 50. 101.143 (1) (bm) of the statutes is created to read:

AB218,24,8 101.143 (1) (bm) "Enforcement standard" has the meaning given in s. 160.01 (2).

AB218, s. 51 Section 51. 101.143 (1) (cq) of the statutes is created to read:

AB218,24,12 101.143 (1) (cq) "Natural attenuation" means the reduction in the concentration and mass of a substance, and the products into which the substance breaks down, due to naturally occurring physical, chemical and biological processes.

AB218, s. 52 Section 52. 101.143 (2) (h) of the statutes is created to read:

AB218,24,17 101.143 (2) (h) The department of commerce, in consultation with the department of natural resources, shall promulgate rules designed to facilitate effective and cost-efficient administration of the program under this section that specify all of the following:

AB218,24,20 1. Information that must be submitted under this section, including quarterly summaries of costs incurred with respect to a discharge for which a claim is intended to be submitted under sub. (3) but for which a final claim has not been submitted.

AB218,24,21 2. Formats for submitting the information under subd. 1.

AB218,24,24 3. Review procedures that must be followed by employes of the department of natural resources and the department of commerce in reviewing the information under subd. 1.

AB218, s. 53 Section 53. 101.143 (2) (i) of the statutes is created to read:

AB218,25,6 101.143 (2) (i) The department of commerce, in consultation with the department of natural resources, shall promulgate rules specifying procedures for evaluating remedial actions under sub. (3) (c) 3. to be used by employes of the department of commerce and the department of natural resources while remedial actions are being conducted. The department of commerce shall specify procedures that include all of the following for ongoing remedial actions:

AB218,25,8 1. Annual reviews that include application of the method under sub. (2e) (a) to determine the risk posed by discharges that are the subject of the remedial actions.

AB218,25,10 2. Annual reports by consultants estimating the additional costs that must be incurred to comply with sub. (3) (c) 3. and with enforcement standards.

AB218, s. 54 Section 54. 101.143 (2) (j) of the statutes is created to read:

AB218,25,14 101.143 (2) (j) The department of commerce, in consultation with the department of natural resources, shall promulgate rules specifying all of the following:

AB218,25,16 1. The conditions under which employes of the department of commerce and the department of natural resources must issue approvals under sub. (3) (c) 4.

AB218,25,18 2. Training and management procedures to ensure that employes comply with the requirements under subd. 1.

AB218, s. 55 Section 55. 101.143 (2e) of the statutes is created to read:

AB218,25,25 101.143 (2e) Risk-based analysis. (a) The department of commerce, in consultation with the department of natural resources, shall promulgate rules specifying a method, which shall include consideration of the routes for migration of petroleum product contamination, for determining the risk to public health, safety and welfare and to the environment posed by discharges for which the department of commerce receives notification under sub. (3) (a) 3.

AB218,26,4 (b) The department of natural resources or, if the discharge is covered under s. 101.144 (2) (b), the department of commerce shall apply the method under par. (a) to determine the risk posed by a discharge for which the department of commerce receives notification under sub. (3) (a) 3.

AB218, s. 56 Section 56. 101.143 (3) (c) 2. of the statutes is amended to read:

AB218,26,8 101.143 (3) (c) 2. Prepare a remedial action plan that identifies specific remedial action activities proposed to be conducted under subd. 3. and submit the remedial action plan to the department.

AB218, s. 57 Section 57. 101.143 (3) (cg) of the statutes is created to read:

AB218,26,17 101.143 (3) (cg) Approval to begin remedial action. 1. Except as provided in subds. 2. and 3., to be eligible for an award under sub. (4) an owner or operator may not begin remedial action under par. (c) 3. with respect to a discharge without the approval of the department of commerce and the department of natural resources. The department of commerce and the department of natural resources shall jointly determine when it is appropriate to begin remedial action with respect to a discharge based on the determination of risk under sub. (2e) (b) for the discharge and the availability of funds to pay awards under sub. (4).

AB218,26,21 2. Subdivision 1. does not apply if the discharge is from a home oil tank system, a petroleum product storage system that is described in sub. (4) (ei) 1. or a petroleum product storage system that is owned by a school district and that is used for storing heating oil for consumptive use on the premises where stored.

AB218,26,23 3. Subdivision 1. does not apply to remedial action in response to an emergency if par. (g) applies.

AB218,27,3 4. Notwithstanding s. 292.11 (3) and (7) (c), an owner or operator to whom subd. 1. applies is not required to begin remedial action under par. (c) 3. until the owner or operator receives approval under subd. 1.

AB218, s. 58 Section 58. 101.143 (3) (cm) of the statutes is amended to read:

AB218,27,10 101.143 (3) (cm) Monitoring as remedial action. An owner or operator or person owning a home oil tank system may, with the approval of the department of natural resources or, if the discharge is covered under s. 101.144 (2) (b), the department of commerce, satisfy the requirements of par. (c) 2. and 3. by proposing and implementing monitoring to ensure the effectiveness of the natural process of degradation attenuation of petroleum product contamination.

AB218, s. 59 Section 59. 101.143 (3) (cp) of the statutes is created to read:

AB218,27,17 101.143 (3) (cp) Bidding process. 1. Except as provided in subds. 2. to 4., if the department of natural resources or, if the site is covered under s. 101.144 (2) (b), the department of commerce estimates that the cost to complete a site investigation, remedial action plan and remedial action for an occurrence exceeds $60,000, the department of commerce shall implement a competitive public bidding process to obtain information to assist in making the determination under par. (cs).

AB218,27,21 2. The department of commerce may not implement the process under subd. 1. if an enforcement standard is exceeded in groundwater within 1,000 feet of a well operated by a public utility, as defined in s. 196.01 (5), or within 100 feet of any other well used to provide water for human consumption.

AB218,27,25 3. The department of commerce may not implement the process under subd. 1. if the department of natural resources waives the requirement on the grounds that waiver is necessary in an emergency to prevent or mitigate an imminent hazard to public health, safety or welfare or to the environment.

AB218,28,3 4. The department of commerce may not implement the process under subd. 1. if the secretary of natural resources waives the requirement after providing notice to the secretary of commerce.

AB218, s. 60 Section 60. 101.143 (3) (cs) of the statutes is created to read:

AB218,28,12 101.143 (3) (cs) Determination of least costly method of remedial action. 1. The department of commerce shall review the remedial action plan for a site that is classified as low or medium priority under s. 101.144 (3m) and shall determine the least costly method of complying with par. (c) 3. and with enforcement standards. The department shall notify the owner or operator of its determination of the least costly method and shall notify the owner or operator that reimbursement for remedial action under this section is limited to the amount necessary to implement that method.

AB218,28,19 2. The department of natural resources and the department of commerce shall review the remedial action plan for a site that is classified as high priority under s. 101.144 (3m) and shall jointly determine the least costly method of complying with par. (c) 3. and with enforcement standards. The departments shall notify the owner or operator of their determination of the least costly method and shall notify the owner or operator that reimbursement for remedial action under this section is limited to the amount necessary to implement that method.

AB218,28,22 3. In making determinations under subds. 1. and 2., the department of natural resources and the department of commerce shall determine whether natural attenuation will achieve compliance with par. (c) 3. and with enforcement standards.

AB218, s. 61 Section 61. 101.143 (3) (cw) of the statutes is created to read:

AB218,29,6 101.143 (3) (cw) Annual reviews. 1. The department of commerce shall conduct the annual review required under sub. (2) (i) 1. for a site that is classified as low or medium priority under s. 101.144 (3m) and shall determine the least costly method of completing remedial action at the site in order to comply with par. (c) 3. and with enforcement standards. The department shall notify the owner or operator of its determination of the least costly method and shall notify the owner or operator that reimbursement under this section for any remedial action conducted after the date of the notice is limited to the amount necessary to implement that method.

AB218,29,15 2. The department of natural resources and the department of commerce shall conduct the annual review required under sub. (2) (i) 1. for a site that is classified as high priority under s. 101.144 (3m) and shall jointly determine the least costly method of completing remedial action at the site in order to comply with par. (c) 3. and with enforcement standards. The departments shall notify the owner or operator of their determination of the least costly method and shall notify the owner or operator that reimbursement under this section for remedial action conducted after the date of the notice is limited to the amount necessary to implement that method.

AB218,29,18 3. In making determinations under subds. 1. and 2., the department of natural resources and the department of commerce shall determine whether natural attenuation will achieve compliance with par. (c) 3. and with enforcement standards.

AB218, s. 62 Section 62. 101.143 (3) (d) of the statutes is amended to read:

AB218,30,4 101.143 (3) (d) Review of site investigations, remedial action plans and Final review of remedial action activities. The department of natural resources or, if the discharge is covered under s. 101.144 (2) (b), the department of commerce shall, at the request of the claimant, review the site investigation and the remedial action plan and advise the claimant on the adequacy of proposed remedial action activities in meeting the requirements of s. 292.11. The advice is not an approval of the remedial action activities. The department of natural resources or, if the discharge is covered under s. 101.144 (2) (b), the department of commerce shall complete a final review of the remedial action activities within 60 days after the claimant notifies the appropriate department that the remedial action activities are completed.