LRB-2116/1
RAC:cjs:rs
2007 - 2008 LEGISLATURE
May 15, 2007 - Introduced by Representatives Hahn, Albers, Bies, Jeskewitz,
Kaufert, Kramer, F. Lasee, Lothian, Montgomery, J. Ott, Owens, Strachota
and Vos, cosponsored by Senators Roessler and Leibham. Referred to
Committee on Ways and Means.
AB329,1,5
1An Act to repeal 13.40;
to renumber and amend 20.003 (4m);
to amend
216.518 (title), 20.875 (1) (a) and 25.60; and
to create 20.003 (4m) (b) and 20.003
3(4m) (c) of the statutes;
relating to: limits on appropriations from general
4purpose revenues and requiring the secretary of administration to transfer
5certain moneys to the budget stabilization fund.
Analysis by the Legislative Reference Bureau
Current law, with exceptions, limits the amount of general purpose revenues
(GPR) that may be appropriated in any fiscal biennium. The limit is tied to the
annual percentage change in state aggregate personal income. Current law also
prohibits the legislature from passing any bill that would cause GPR appropriations
for any fiscal year to exceed GPR deposited in the general fund in that fiscal year.
This bill prohibits the legislature from passing any bill that would cause GPR
appropriations for any fiscal year to exceed 99 percent of the amount of GPR
deposited in the general fund in that fiscal year.
The bill also provides that if in any fiscal year the amount of GPR deposited in
the general fund exceeds the amount of GPR that is appropriated, the secretary of
administration must transfer to the budget stabilization fund all excess GPR, less
any statutory balance required to be maintained in the general fund and any amount
already transferred to the budget stabilization fund in that fiscal year.
Finally, the bill provides that if the balance of the budget stabilization fund on
June 30 of a fiscal year is at least equal to nine percent of the amount of GPR
deposited in the general fund in that fiscal year, the legislature must pass a bill to
provide that all moneys in the budget stabilization fund must be used for tax relief
in the succeeding fiscal year.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB329, s. 1
1Section
1. 13.40 of the statutes is repealed.
AB329, s. 2
2Section
2. 16.518 (title) of the statutes is amended to read:
AB329,2,4
316.518 (title)
Transfers to the budget stabilization fund and the cash
4building projects fund.
AB329, s. 3
5Section
3. 20.003 (4m) of the statutes is renumbered 20.003 (4m) (a) and
6amended to read:
AB329,2,127
20.003
(4m) (a) No bill may be adopted by the legislature if the bill would cause
8in any fiscal year the amount of moneys designated as "Total Expenditures" in the
9summary under s. 20.005 (1) for that fiscal year, less any amounts transferred to the
10budget stabilization fund in that fiscal year, to exceed
99 percent of the sum of the
11amount of moneys designated as "Taxes" and "Departmental Revenues" in the
12summary under s. 20.005 (1) for that fiscal year.
AB329, s. 4
13Section
4. 20.003 (4m) (b) of the statutes is created to read:
AB329,3,214
20.003
(4m) (b) If in any fiscal year the sum of moneys deposited in the general
15fund designated as "Taxes" and "Departmental Revenues" in the summary under s.
1620.005 (1) for that fiscal year exceeds the moneys that are appropriated and
17designated as "Total Expenditures" in the summary under s. 20.005 (1) for that fiscal
18year, the secretary of administration shall transfer to the budget stabilization fund
19all of the excess taxes and revenues, less any statutory balance required to be
1maintained in the general fund under s. 20.003 (4) and any amount transferred to
2the budget stabilization fund under s. 16.518 (3) (a).
AB329, s. 5
3Section
5. 20.003 (4m) (c) of the statutes is created to read:
AB329,3,84
20.003
(4m) (c) If the balance of the budget stabilization fund on June 30 of a
5fiscal year is at least equal to 9 percent of the amount of moneys designated as
6"Taxes" and "Departmental Revenues" in the summary under s. 20.005 (1) for that
7fiscal year, the legislature shall pass a bill to provide that all moneys in the budget
8stabilization fund must be used for tax relief in the succeeding fiscal year.
AB329, s. 6
9Section
6. 20.875 (1) (a) of the statutes is amended to read:
AB329,3,1110
20.875
(1) (a)
General fund transfer. A sum sufficient equal to the amount that
11is required to be transferred under
s. ss. 16.518 (3)
and 20.003 (4m) (b).
AB329, s. 7
12Section
7. 25.60 of the statutes is amended to read:
AB329,3,16
1325.60 Budget stabilization fund. There is created a separate nonlapsible
14trust fund designated as the budget stabilization fund, consisting of moneys
15transferred to the fund from the general fund under ss. 13.48 (14) (c), 16.518 (3),
1616.72 (4) (b),
and 16.848
, and 20.003 (4m) (b).
AB329,3,1818
(1)
This act takes effect on June 30, 2009.
