25.47(6)
(6) The net proceeds of revenue obligations issued under
s. 101.143 (9m) that are transferred from a separate and distinct fund outside the state treasury, in an account maintained by a trustee, under
s. 18.562 (3).
25.48
25.48
Dry cleaner environmental response fund. There is established a separate nonlapsible trust fund designated as the dry cleaner environmental response fund, to consist of the moneys required under
s. 77.9964 (3) to be deposited in the fund and moneys collected under
ss. 292.65 (8m) and
(9) (c).
25.48 History
History: 1997 a. 27;
1999 a. 9.
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)(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, family care district under
s. 46.2895, local professional football stadium district created under
subch. IV of ch. 229, local cultural arts district created under
subch. V 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 employee 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 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 indexes 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 indexes 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) Board to invest, reinvest pooled funds. In the amounts available for investment purposes and subject to the policies formulated by the board, the 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).
25.50 History
History: 1975 c. 164;
1977 c. 29,
187;
1979 c. 34 s.
2102 (46) (a);
1979 c. 175 s.
53;
1981 c. 20,
93;
1983 a. 27 s.
2202 (45), (49);
1985 a. 29 s.
3202 (46);
1987 a. 27;
1989 a. 31,
159,
336;
1991 a. 33,
39;
1993 a. 16,
399;
1995 a. 27,
56,
274;
1999 a. 9,
65,
83,
167;
2001 a. 38.
25.55
25.55
Health insurance risk-sharing plan fund. There is established a separate nonlapsible trust fund designated as the health insurance risk-sharing plan fund, to consist of:
25.55(4)
(4) Premiums paid by eligible persons under
ch. 149.
25.55 History
History: 1999 a. 9.
25.60
25.60
Budget stabilization fund. There is created a separate nonlapsible trust fund designated as the budget stabilization fund, consisting of moneys transferred to the fund from the general fund under
s. 16.518 (3).
25.60 History
History: 1985 a. 120;
2001 a. 16.
25.61
25.61
VendorNet fund. There is created a separate nonlapsible trust fund designated as the VendorNet fund consisting of all revenues accruing to the state from fees assessed under
ss. 16.701 [and 16.702 (1)] and from gifts, grants, and bequests made for the purposes of
ss. 16.701 [and 16.702 (1)] and moneys transferred to the fund from other funds.
25.61 Note
NOTE: There is no s. 16.702 (1). Corrective legislation is pending.
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)(c)
(c) "County government" means any county in this state.
25.65(1)(d)
(d) "County official" means each officer or employee 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.
25.66
25.66
Tobacco control fund. 25.66(1)
(1) There is created a separate nonlapsible trust fund, known as the tobacco control fund, to consist of the following:
25.66(1)(a)
(a) The first $23,500,000 of the moneys received in fiscal year 1999-2000 under the Attorneys General Master Tobacco Settlement Agreement of November 23, 1998.
25.66(1)(b)
(b) Except as provided in
sub. (1m) (a), the first $6,032,300 of the moneys received in fiscal year 2001-02 under the Attorneys General Master Tobacco Settlement Agreement of November 23, 1998.
25.66(1)(c)
(c) Except as provided in
sub. (1m) (b), in fiscal year 2002-03, the first $15,345,100 of the moneys received in that fiscal year under the Attorneys General Master Tobacco Settlement Agreement of November 23, 1998.
25.66(1)(d)
(d) Beginning in fiscal year 2003-04, all moneys transferred from the permanent endowment fund under
s. 13.101 (16) (b).
25.66(1m)(a)(a) If the state has not received in fiscal year 2001-02 at least $6,032,300 under the Attorneys General Master Tobacco Settlement Agreement of November 23, 1998, because the secretary of administration, under
s. 16.63, has sold the state's right to receive payments under the Agreement, the tobacco control fund shall also consist of any moneys transferred to the tobacco control fund from the general fund under
s. 16.519 (3).
25.66(1m)(b)
(b) In fiscal year 2002-03, if the state has not received at least $15,345,100 in that fiscal year under the Attorneys General Master Tobacco Settlement Agreement of November 23, 1998, because the secretary of administration, under
s. 16.63, has sold the state's right to receive payments under the Agreement, the tobacco control fund shall also consist of any moneys transferred to the tobacco control fund from the general fund under
s. 16.519 (4).
25.66(2)
(2) Amounts in the fund may be distributed for the purposes specified in
s. 255.15.
25.66 History
History: 1999 a. 9,
84;
2001 a. 16,
109.
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:
25.67(2)(b)
(b) All moneys in the fund that are not expended under
s. 20.433 (1) (q) shall continue to accumulate indefinitely.
