Amendment SA5-SB440

LRBa1437/1

TKK:wlj&kjf:md

2009 - 2010 LEGISLATURE

SENATE AMENDMENT 5, TO 2009 SENATE BILL 440

January 28, 2010 - Offered by Senators Lassa and Miller.

SB440-SA5,1,1 At the locations indicated, amend the bill as follows:

SB440-SA5,1,3 1. Page 4, line 17: delete "unused allocation, as that" and substitute "waived allocation, waived as required under".

SB440-SA5,1,4 2. Page 4, line 18: delete "term is used in".

SB440-SA5,1,5 3. Page 5, line 1: delete "The" and substitute "Subject to sub. (5), the".

SB440-SA5,1,6 4. Page 5, line 11: after that line insert:

SB440-SA5,2,6 "(5) Consideration of waiver; reallocation. For a reallocation made under this section after March 1, 2010, but before June 1, 2010, before making the reallocation, the department shall consider the amount of recovery zone bond limitation allocation waived under s. 66.1104 (2) (a) or (b) by each city or county then seeking a reallocation under this section. The department shall reallocate from the aggregated waived allocation, as that term is used in sub. (1), an allocation of the recovery zone bond limitation to a project in a city or county that waived an allocation under s. 66.1104 (2) (a) or (b) in an amount up to the total limitation allocation waived by the city or county or equal to the limitation allocation determined by the city or county to be necessary for the project, whichever is less. In the event requests by cities and counties for a reallocation under this section exceed the aggregated waived allocation, the department shall prorate the available waived allocation among cities and counties in proportion to the amount waived by the cities and counties.".

SB440-SA5,2,7 (End)