March 6, 2024 - Introduced by Senators Smith, Larson and Spreitzer, cosponsored
by Representatives Shankland, Billings, Conley, Drake, Emerson, Joers,
Moore Omokunde, Neubauer, Palmeri, Ratcliff, Sinicki, Stubbs and
Subeck. Referred to Committee on Natural Resources and Energy.

SB1087,1,4 1An Act to amend 25.60 and 299.97 (2); and to create 13.59, 20.370 (4) (az),
220.435 (1) (s), 25.17 (1) (ymk), 25.44 and 299.87 of the statutes; relating to:
3creating the water fund for our future, granting rule-making authority, and
4making an appropriation.

This bill creates a new nonlapsible trust fund, designated as the water fund for
our future, to consist of a onetime transfer of $250,000,000 from the general fund.
Under the bill, the Joint Committee on Finance may at any time transfer any amount
of the unencumbered balance from the fund to the budget stabilization fund, if the
budget stabilization fund has been fully expended.

The bill also creates the Joint Committee for the Oversight of the Water Fund
for Our Future, composed of three majority party and two minority party senators
and three majority party and two minority party representatives to the assembly,
appointed as are the members of standing committees in their respective houses; the
secretary of health services or his or her designee; and the secretary of natural
resources or his or her designee. Under the bill, the committee receives applications
for making expenditures from the fund and makes recommendations to JCF
regarding use of the fund.