AB909: Bill Text

LRB-4343/3

RAC:jld:rs

2003 - 2004 LEGISLATURE

2003 Assembly BILL 909

February 25, 2004 - Introduced by Representatives Gard and Kaufert, cosponsored by Senators Panzer and Darling. Referred to Joint Committee on Finance.

AB909,1,5 An Act to amend 20.866 (2) (xe), 20.866 (2) (z) (intro.) and 20.866 (2) (zgh); and to create 25.77 (6) of the statutes; relating to: refunding public debt that is used to finance tax-supported or self-amortizing facilities, transferring moneys from the general fund to the Medical Assistance trust fund, and making appropriations.

Analysis by the Legislative Reference Bureau

Under current law, the state may contract, before June 30, 2003, additional public debt in an amount not to exceed $75,000,000 to refund public debt used to finance tax-supported or self-amortizing facilities. The bill increases that amount to $250,000,000 and provides that refinancing of the debt must occur before June 30, 2004.

The bill provides that, on June 30, 2004, if the Building Commission has contracted the additional public debt after the bill's effective date, but before June 30, 2004, an amount equal to $123,500,000 is transferred from the general fund to the Medical Assistance trust fund. In addition, the bill increases the appropriation to the Public Defender Board for private bar and private investigator services by $9,213,500 and to the Department of Administration for salaries and fringe benefits for district attorneys by $1,000,000. Finally, the bill reduces the amount of public debt that may be contracted for the Building Commission by $18,000,000 and for the Historical Society by $101,500,000.

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:

AB909, s. 1 Section 1. 20.866 (2) (xe) of the statutes is amended to read:

AB909,2,12 20.866 (2) (xe) Building commission; refunding tax-supported and self-amortizing general obligation debt incurred before June 30, 2003 2005. From the capital improvement fund, a sum sufficient to refund the whole or any part of any unpaid indebtedness used to finance tax-supported or self-amortizing facilities. The state may contract public debt in an amount not to exceed $75,000,000 $250,000,000 for this purpose. Such indebtedness shall be construed to include any premium and interest payable with respect thereto. Debt incurred by this paragraph shall be incurred before June 30, 2003 2005, and shall be repaid under the appropriations providing for the retirement of public debt incurred for tax-supported and self-amortizing facilities in proportional amounts to the purposes for which the debt was refinanced.

AB909, s. 2 Section 2. 20.866 (2) (z) (intro.) of the statutes is amended to read:

AB909,2,19 20.866 (2) (z) Building commission; other public purposes. (intro.) From the capital improvement fund, a sum sufficient to the building commission for relocation assistance and capital improvements for other public purposes authorized by law but not otherwise specified in this chapter. The state may contract public debt in an amount not to exceed $1,576,901,000 $1,558,901,000 for this purpose. Of this amount:

AB909, s. 3 Section 3. 20.866 (2) (zgh) of the statutes is amended to read:

AB909,3,4 20.866 (2) (zgh) Historical society; Wisconsin history center. From the capital improvement fund, a sum sufficient for the historical society to construct a Wisconsin history center. The state may contract public debt in an amount not to exceed $131,500,000 $30,000,000 for this purpose.

AB909, s. 4 Section 4. 25.77 (6) of the statutes is created to read:

AB909,3,7 25.77 (6) All moneys transferred under 2003 Wisconsin Act .... (this act), section 5 (1 ).

AB909, s. 5 Section 5 . Nonstatutory provisions.

AB909,3,14 (1) Transfer to Medical Assistance trust fund. If the building commission has refunded the whole or any part of any unpaid indebtedness used to finance tax-supported or self-amortizing facilities from moneys appropriated under section 20.866 (2) (xe) of the statutes, as affected by this act, after the effective date of this subsection, but before June 30, 2004, an amount equal to $123,500,000 is transferred from the general fund to the Medical Assistance trust fund.

AB909, s. 6 Section 6. Appropriation changes.

AB909,3,20 (1) District attorneys. In the schedule under section 20.005 (3) of the statutes for the appropriation to the department of administration under section 20.475 (1) (d) of the statutes, as affected by the acts of 2003, the dollar amount is increased by $1,000,000 for fiscal year 2003-04 to increase funding for the purpose for which the appropriation is made.

AB909,4,2 (2) Public defender board. In the schedule under section 20.005 (3) of the statutes for the appropriation to the public defender board under section 20.550 (1) (d) of the statutes, as affected by the acts of 2003, the dollar amount is increased by $4,050,000 for fiscal year 2003-04 and the dollar amount is increased by $5,163,500 for fiscal year 2004-05 to increase funding for the purpose for which the appropriation is made.

AB909,4,3 (End)