2017 - 2018 LEGISLATURE
ASSEMBLY AMENDMENT 1,
TO ASSEMBLY BILL 804
January 29, 2018 - Offered by Representative August.
24.09 (1) (a) of the statutes is amended to read:
(a) Except as provided under par. (c), the board may not sell or 6
exchange any public lands which were not appraised or appraised under s. 24.08. 7
Except as provided under pars. (b), (bg),
(bm) and (c), the board may not sell or 8
exchange any public lands except at public auction or by sealed bid.
24.09 (1) (bg) of the statutes is created to read:
(bg) The board may sell public lands belonging to a trust fund, as 11
defined under s. 24.60 (5), to another trust fund, as defined under s. 24.60 (5), at the 12
appraised value of the land. The board shall remit the proceeds of a sale under this
paragraph to the secretary of administration for deposit in the appropriate trust 2
24.11 (1) (c) of the statutes is amended to read:
(c) Unless Except as provided under s. 24.09 (1) (bg) and unless 5
otherwise required by law to be deposited into a fund other than any of the trust 6
funds, as defined in s. 24.60 (5), all moneys received from the sale of public lands on 7
or after May 3, 2006, shall be credited to the appropriate trust fund in an account 8
specified in s. 24.605.
24.605 of the statutes is amended to read:
1024.605 Accounts in trust funds for deposit of proceeds from sale of
The board shall establish in each of the trust funds an account to 12
which are credited the proceeds from the sale of any public lands
, except sales under
13s. 24.09 (1) (bg),
on or after May 3, 2006, that are required by law to be deposited in 14
the funds. Moneys credited to the accounts in the funds may only be used to invest 15
in land under s. 24.61 (2) (a) and for the payment of expenses necessarily related to 16
investing in land under s. 24.61 (2) (a).
24.61 (2) (cm) (intro.) of the statutes is amended to read:
(cm) Investments in land in this state.
(intro.) The Except as provided
19under s. 24.09 (1) (bg), the
board may not invest moneys in the purchase of any land 20
under par. (a) unless all of the following occur:”.