Wisconsin Statutes 16.5185 – Transfers to the transportation fund
Current as of: 2023 | Check for updates
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Terms Used In Wisconsin Statutes 16.5185
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Year: means a calendar year, unless otherwise expressed; "year" alone means "year of our Lord". See Wisconsin Statutes 990.01
(1) Beginning on June 30, 2013, in each fiscal year, the secretary shall transfer from the general fund to the transportation fund the greater of the following:
(a) An amount equal to 0.25 percent of the moneys projected to be deposited in the general fund during the fiscal year that are designated as “Taxes” in the summary in s. 20.005 (1), as published in the biennial budget act for that fiscal year. For fiscal year 2022-23 the amount calculated under this paragraph is doubled.
(b) An amount equal to $35,127,000.
(2m) Beginning on June 30, 2020, in each fiscal year, the secretary shall transfer the unencumbered balance of the petroleum inspection fund on June 30, less an amount sufficient to meet the reserve requirement under this subsection, from the petroleum inspection fund to the transportation fund. The petroleum inspection fund balance after a transfer under this subsection may not be less than 5 percent of gross revenues received during the fiscal year in which the transfer is made.