Wisconsin Statutes 25.405 – Transportation infrastructure loan fund
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Terms Used In Wisconsin Statutes 25.405
- Highway: includes all public ways and thoroughfares and all bridges upon the same. See Wisconsin Statutes 990.01
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- State: when applied to states of the United States, includes the District of Columbia, the commonwealth of Puerto Rico and the several territories organized by Congress. See Wisconsin Statutes 990.01
(1) Definition. In this section, “fund” means the transportation infrastructure loan fund.
(2) Creation. There is established a separate nonlapsible trust fund designated as the transportation infrastructure loan fund, to consist of:
(a)
1. All moneys received from the federal government under P.L. Public Law 104-59″>104-59, section 350, designated for transit projects.
2. All moneys received from the federal government under P.L. 104-59, section 350, designated for highway projects.
(b) All moneys transferred to the fund to meet the requirements for state deposits under P.L. 104-59, section 350.
(c) All repayments of principal and payments of interest on loans made under s. 85.52 (3).
(d) All moneys received by the fund from the proceeds of the issuance of revenue obligations under ch. 18 for the purpose of s. 85.52.
(e) All gifts, grants and bequests to the fund.
(3) Separate accounts.
(a) There is established in the fund a transit account consisting of all moneys received under sub. (2) (a) 1., moneys received under sub. (2) (b) designated by the department of transportation for transit projects and moneys received under sub. (2) (e) designated by the department of transportation for transit projects, revenue obligation proceeds under sub. (2) (d) designated for transit projects and all transit account loan repayments under sub. (2) (c).
(b) There is established in the fund a highway account consisting of all moneys received under sub. (2) (a) 2., moneys received under sub. (2) (b) designated by the department of transportation for highway projects and moneys received under sub. (2) (e) designated for highway projects, revenue obligation proceeds under sub. (2) (d) designated for highway projects and all highway account loan repayments under sub. (2) (c).
(c) The department of administration may establish additional accounts in the fund and, except for the accounts under pars. (a) and (b), may change accounts in the fund. The department of administration shall consult the department of transportation before establishing or changing an account under this paragraph.