DOA:......Martin, BB0383 - Local government fund transfer
For 2025-2027 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
SHARED REVENUE
Timing of transfers to the local government fund
The bill increases the annual July transfer from the general fund to the local government fund to cover the full amount of expenditure restraint incentive program payments, computer aid payments, and video service provider fee aid payments that are paid to taxing jurisdictions from the local government fund by the 4th Monday in July.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section 1. 16.5186 (2) of the statutes is renumbered 16.5186 (2) (a) (intro.) and amended to read:
16.5186 (2) (a) (intro.) Beginning in fiscal year 2024-25 2025-26, on the 2nd Monday in July in each fiscal year, the secretary shall transfer from the general fund to the local government fund 15 percent of the amount specified under s. 25.491 (1) (b) and (c). On an amount equal to the sum of all of the following:
(b) Beginning in fiscal year 2025-26, on the 2nd Monday in November in each fiscal year, the secretary shall transfer from the general fund to the local government fund 85 percent of an amount equal to the amount specified under s. 25.491 (1) (b) and (c) minus the amount transferred under par. (a).
Section 2. 16.5186 (2) (a) 1. of the statutes is created to read:
16.5186 (2) (a) 1. An amount equal to the sum of the total payments to be made in the fiscal year under ss. 79.05, 79.095, and 79.097.
Section 3. 16.5186 (2) (a) 2. of the statutes is created to read:
16.5186 (2) (a) 2. An amount determined as follows:
a. Subtract the amount determined under subd. 1. from the amount specified under s. 25.491 (1) (c).
b. Multiply the amount determined under subd. 2. a. by 0.15.
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