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LRBa1875/1
EVM:klm
2017 - 2018 LEGISLATURE
ASSEMBLY AMENDMENT 1,
TO ASSEMBLY BILL 804
January 29, 2018 - Offered by Representative August.
AB804-AA1,1,11 At the locations indicated, amend the bill as follows:
AB804-AA1,1,2 21. Page 1, line 3: after “students" insert “, transfers of trust fund lands,".
AB804-AA1,1,3 32. Page 2, line 3: after that line insert:
AB804-AA1,1,4 4 Section 1c. 24.09 (1) (a) of the statutes is amended to read:
AB804-AA1,1,85 24.09 (1) (a) Except as provided under par. (c), the board may not sell or
6exchange any public lands which were not appraised or appraised under s. 24.08.
7Except as provided under pars. (b), (bg), (bm) and (c), the board may not sell or
8exchange any public lands except at public auction or by sealed bid.
AB804-AA1,1g 9Section 1g. 24.09 (1) (bg) of the statutes is created to read:
AB804-AA1,2,210 24.09 (1) (bg) The board may sell public lands belonging to a trust fund, as
11defined under s. 24.60 (5), to another trust fund, as defined under s. 24.60 (5), at the
12appraised value of the land. The board shall remit the proceeds of a sale under this

1paragraph to the secretary of administration for deposit in the appropriate trust
2fund.
AB804-AA1,1n 3Section 1n. 24.11 (1) (c) of the statutes is amended to read:
AB804-AA1,2,84 24.11 (1) (c) Unless Except as provided under s. 24.09 (1) (bg) and unless
5otherwise required by law to be deposited into a fund other than any of the trust
6funds, as defined in s. 24.60 (5), all moneys received from the sale of public lands on
7or after May 3, 2006, shall be credited to the appropriate trust fund in an account
8specified in s. 24.605.
AB804-AA1,1r 9Section 1r. 24.605 of the statutes is amended to read:
AB804-AA1,2,16 1024.605 Accounts in trust funds for deposit of proceeds from sale of
11certain lands.
The board shall establish in each of the trust funds an account to
12which 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
14the funds. Moneys credited to the accounts in the funds may only be used to invest
15in land under s. 24.61 (2) (a) and for the payment of expenses necessarily related to
16investing in land under s. 24.61 (2) (a).
AB804-AA1,1w 17Section 1w. 24.61 (2) (cm) (intro.) of the statutes is amended to read:
AB804-AA1,2,2018 24.61 (2) (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
20under par. (a) unless all of the following occur:”.
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