25.48 History
History: 1997 a. 27.
25.49
25.49
Recycling fund. There is established a separate nonlapsible trust fund designated as the recycling fund, to consist of:
25.50
25.50
Local government pooled-investment fund. 25.50(1)(1)
Definitions. In this section:
25.50(1)(a)
(a) "Board" means the state investment board.
25.50(1)(b)
(b) "Fund" means the local government pooled-investment fund.
25.50(1)(c)
(c) "Local funds" means funds under the control or in the custody of any local government or local official that are not required to meet current expenditures or demands.
25.50(1)(d)
(d) "Local government" means any county, town, village, city, power district, sewerage district, drainage district, town sanitary district, public inland lake protection and rehabilitation district, local professional baseball park district created under
subch. III of ch. 229, public library system, school district or technical college district in this state, any commission, committee, board or officer of any governmental subdivision of this state, any court of this state, other than the court of appeals or the supreme court, or any authority created under
s. 231.02,
233.02 or
234.02.
25.50(1)(e)
(e) "Local official" means each officer or employe of a local government who by law or vote of the governing body of the local government is made the custodian of funds.
25.50(2)
(2) Creation. There is established within the state investment fund a local government pooled-investment fund with a separate and identifiable account within the fund for each local government.
25.50(3)
(3) Local governments authorized to place funds in pool. 25.50(3)(a)(a) With the consent of the governing body, a local official may transfer local funds to the state treasurer for deposit in the fund.
25.50(3)(b)
(b) On the dates specified and to the extent to which they are available, subject to
s. 16.53 (10), funds payable to local governments under
ss. 79.03,
79.04,
79.05,
79.058,
79.06,
79.08 and
79.10 shall be considered local funds and, pursuant to the instructions of local officials, may be paid into the separate accounts of all local governments established in the local government pooled-investment fund and, pursuant to the instructions of local officials, to the extent to which they are available, be disbursed or invested.
25.50(4)
(4) Period of investments; withdrawal of funds. Subject to the right of the local government to specify the period in which its funds may be held in the fund, the state treasurer shall prescribe the mechanisms and procedures for deposits and withdrawals.
25.50(5)
(5) Investment policies. The investment board shall formulate policies for the investment and reinvestment of moneys in the fund and the acquisition, retention, management and disposition of such investments. The board shall provide a copy of the investment policies, together with any guidelines adopted by the board to direct staff investment activity, to each local government having an investment in the fund upon the local government's request and at least annually to all investors. The board shall distribute at least annually performance information over the preceding one-year, 5-year and 10-year periods, compared with appropriate indices or benchmarks in the private sector. The investment policies shall include all of the following:
25.50(5)(b)
(b) Any restrictions on allocation of assets among various asset types.
25.50(5)(c)
(c) Credit standards for private companies in which the fund may invest.
25.50(5)(d)
(d) Dollar or percentage limits on investments in a single company or bank.
25.50(5m)
(5m) Monthly reporting requirements. 25.50(5m)(a)(a) The board, in cooperation with the department of administration, shall provide information necessary for the state treasurer to provide a monthly report to each local government having an investment in the fund. The board shall use all reasonable efforts to provide the information to the state treasurer in time to allow the treasurer to mail or electronically transmit the report to the local government no later than 6 business days after the end of the month covered by the report. The report shall include information on the fund's earnings for the month, with comparison to appropriate indices or benchmarks in the private sector.
25.50(5m)(b)
(b) Upon request of any local government having an investment in the fund, the board shall provide a summary of securities held by the fund, including for each type of security, its cost, current value and, in the case of debt instruments, the average maturity. The board shall provide the information as soon as practicable after receiving the request.
25.50(6)
(6) Investment board to invest, reinvest pooled funds. In the amounts available for investment purposes and subject to the policies formulated by the investment board, the investment board shall invest and reinvest moneys in the fund and acquire, retain, manage, including the exercise of any voting rights, and dispose of investments of the fund.
25.50(7)
(7) Reimbursement of expenses. The state treasurer shall deduct quarterly a maximum of 0.25% of the amount of income received from the earnings of the fund during the preceding calendar quarter for all actual and necessary expenses incurred by the state in administering the fund.
25.50(8)(a)(a) The department of administration shall keep a separate account for each local government and shall record the individual amounts and the totals of all investments of each local government's moneys in the fund.
25.50(8)(b)
(b) The state treasurer shall report monthly to each local official the deposits and withdrawals of the preceding month and any other activity within the account.
25.50(8)(c)
(c) For each municipality that invests in the fund surplus debt service funds under
s. 67.11 (2) (d), the department of administration shall keep separate accounts for such surplus debt service funds and for all other local funds of the municipality that are invested in the fund.
25.50(9)
(9) Rules. The state treasurer may promulgate rules to carry out the purposes of this section.
25.50(10)
(10) Insurance of principal. The state treasurer may obtain insurance for the safety of the principal investments of the fund. The insurance is a reimbursable expense under
sub. (7).
25.60
25.60
Budget stabilization fund. All moneys appropriated under
s. 20.875 (1), less moneys appropriated under
s. 20.875 (2), constitute the budget stabilization fund. Moneys in this fund are reserved to provide state revenue stability during periods of below-normal economic activity when actual state revenues are lower than estimated revenues under
s. 20.005 (1).
25.60 History
History: 1985 a. 120.
25.61
25.61
Information technology investment fund. There is created a separate nonlapsible trust fund designated as the information technology investment fund consisting of all revenues accruing to the state from fees assessed under
ss. 16.701 and
16.702 and from gifts, grants and bequests made for information technology development purposes and moneys transferred to the fund from other funds.
Effective date note
NOTE: This section is repealed and recreated eff. 7-1-00 by
1997 Wis. Act 36 to read:
Effective date text
25.61 Information technology investment fund. There is created a separate nonlapsible trust fund designated as the information technology investment fund consisting of all revenues accruing to the state from fees assessed under s. 16.701 and from gifts, grants and bequests made for information technology development purposes and moneys transferred to the fund from other funds.
25.61 History
History: 1995 a. 27,
351;
1997 a. 36.
25.62
25.62
Property tax relief fund. All moneys transferred from the general fund to the property tax relief fund constitute the property tax relief fund. Moneys in the fund are reserved to provide state property tax relief.
25.62 History
History: 1995 a. 213;
1997 a. 27.
25.65
25.65
County mining investment fund. 25.65(1)
(1)
Definitions. In this section:
25.65(1)(a)
(a) "Board" means the state investment board.
25.65(1)(c)
(c) "County government" means any county in this state.
25.65(1)(d)
(d) "County official" means each officer or employe of a county government who by law or vote of the governing body of the county government is made custodian of county funds.
25.65(1)(e)
(e) "Fund" means the county mining investment fund.
25.65(2)
(2) Creation. There is established under the control of the board a county mining investment fund with a separate and identifiable account within the fund for each county government.
25.65(3)
(3) County governments authorized to place county funds in fund. With the consent of the county board a county official may transfer county funds received under
s. 70.395 (2) (d) 1. to the state treasurer for deposit in the fund. A county official may authorize the investment and local impact fund board to transfer the county funds to the state treasurer for the county.
25.65(4)
(4) Period of investments; withdrawal of funds. Subject to the restrictions in this subsection the state treasurer shall prescribe the mechanisms and procedures for deposits and withdrawals. The mechanisms and procedures shall include a requirement for review and approval by the investment and local impact fund board of all withdrawals made within 10 years of deposit. The state treasurer shall notify the investment and local impact fund board of all withdrawals made 10 years or more after deposit. Withdrawals shall be made only to cover the costs of alleviating impacts due to the closing of a metalliferous mine in the county or the curtailment of metalliferous mining activity in the county.
25.65(5)
(5) Investment policies. The board shall formulate policies for the investment and reinvestment of moneys in the fund and the acquisition, retention, management and disposition of the investments.
25.65(6)
(6) Reimbursement of expenses. The state treasurer shall deduct quarterly a maximum of 0.25% of the amount of income received from the earnings of the fund during the preceding calendar quarter for all actual and necessary expenses incurred by the state in administering the fund.
25.65(7)(a)(a) The department of administration shall keep a separate account for each county government and shall record the individual amounts and the totals of all investments of each county government's moneys in the fund.
25.65(7)(b)
(b) The state treasurer shall report quarterly to each county official the deposits and withdrawals of the preceding quarter and any other activity within the account.
25.65 History
History: 1977 c. 423;
1991 a. 259.
25.67
25.67
Children's trust fund. 25.67(1)
(1) The children's trust fund is created as a separate fund. Moneys in the fund shall be expended only for the purposes specified in
s. 48.982 (2m).
25.67(2)(a)(a) The fund shall consist of the following:
25.68
25.68
Support collections trust fund. There is created a separate nonlapsible trust fund designated as the support collections trust fund, to consist of all of the following:
25.68(1)
(1) All moneys received by the department of workforce development under
s. 49.854, except for moneys received under
s. 49.854 (11) (b).
25.68(2)
(2) All moneys received under
ss. 767.265 and
767.29 for child or family support, maintenance or spousal support, health care expenses or birth expenses.
25.68(3)
(3) All moneys not specified under
sub. (2) that are received under a judgment or order in an action affecting the family, as defined in
s. 767.02 (1), by the department of workforce development or its designee.
Effective date note
NOTE: This section is shown as repealed and recreated eff. 1-4-99 by
1997 Wis. Act 191. Prior to 1-4-99 it reads:
Effective date text
25.68 Support collections trust fund. There is created a separate nonlapsible trust fund designated as the support collections trust fund, to consist of all moneys received by the department of workforce development under s. 49.854, except for moneys received under s. 49.854 (11) (b).
25.68 History
History: 1997 a. 191.
25.70
25.70
Historical society trust fund. There is established a separate nonlapsible trust fund designated as the historical society trust fund, consisting of all endowment principal and income and all cash balances of the historical society. Unless the board of curators of the historical society determines otherwise in each case, only the income from the assets in the historical society trust fund is available for expenditure. In this section, unless otherwise provided in the gift, grant or bequest, principal and income are determined as provided under
s. 701.20 (3).
25.70 History
History: 1985 a. 29;
1987 a. 27.
25.72
25.72
Historical legacy trust fund. 25.72(1)
(1) There is established a separate nonlapsible trust fund designated as the historical legacy trust fund, to consist of:
25.72(1)(c)
(c) All gifts, grants or bequests made to the fund.
25.72(2)
(2) There is established in the historical legacy trust fund a separate account that is designated as the bicentennial account and that consists of the first $50,000 deposited into the fund, and earnings from this money, for the purpose of reserving moneys to be expended between January 1, 2046, and December 31, 2048, to commemorate the 200th anniversary of Wisconsin statehood.
25.72 History
History: 1997 a. 27.
25.73
25.73
Historical society endowment fund. There is established a separate nonlapsible endowment fund designated as the historical society endowment fund, to consist of:
25.73(1)
(1) All gifts, grants or bequests made to the fund. Notwithstanding
s. 20.907 (1), the historical society may convert any noncash gift, grant or bequest into cash.
25.73 History
History: 1997 a. 27.
25.75
25.75
Lottery fund. 25.75(1)(1)
Definitions. In this section:
25.75(1)(b)
(b) "Gross lottery revenues" means gross revenues from the sale of lottery tickets and lottery shares under
ch. 565 and revenues from the imposition of fees, if any, under
s. 565.10 (8) and includes compensation, including bonuses, if any, paid to retailers under
s. 565.10 (14), regardless of whether the compensation is deducted by the retailer prior to transmitting lottery ticket and lottery share revenues to the commission.
