AB56-ASA1,335L Section 335L. 24.605 of the statutes is amended to read:

AB56-ASA1,284,18 24.605 Accounts in trust funds for deposit of proceeds from sale of certain lands. The board shall establish in each of the trust funds an account to which are credited the proceeds from the sale of any public lands, except sales under s. 24.09 (1) (bg), on or after May 3, 2006, that are required by law to be deposited in the funds. Moneys credited to the accounts in the funds may only be used to invest in land under s. 24.61 (2) (a) and for the payment of expenses necessarily related to investing in land under s. 24.61 (2) (a).

AB56-ASA1,335m Section 335m. 24.62 (1) of the statutes is repealed.

AB56-ASA1,335n Section 335n. 24.62 (2) of the statutes is amended to read:

AB56-ASA1,285,4 24.62 (2) The board may charge its expenses incurred in the sale of a state trust fund loan or participation therein under s. 24.69 to the purchaser of the loan or participation, or may deduct the expenses from the gross receipts of the fund to which the interest and income of the loan or participation will be added, or both. If the board sells any state trust fund loan or participation therein under s. 24.69 in any fiscal year, the board shall, no later than October 1 following that fiscal year, prepare and file in its office a report which identifies in detail the board's expenses incurred during that fiscal year that are directly attributable to the sale of state trust fund loans and participations under s. 24.69.

AB56-ASA1,335o Section 335o. 24.64 of the statutes is amended to read:

AB56-ASA1,285,9 24.64 Reimbursements for certain administrative services. The board shall reimburse the department of administration, from the appropriation account under s. 20.507 (1) (h) (a), for the costs of administrative services provided by the department of administration and other state agencies to the board.

AB56-ASA1,335p Section 335p. 24.75 of the statutes is amended to read:

AB56-ASA1,285,15 24.75 Interest, how accounted for. All money collected as interest upon any state trust fund loan shall be paid into the state treasury. All moneys collected as interest upon any trust fund loan are considered gross receipts and shall be credited to the income of the fund from which the loan was made except that expenses may be deducted as provided under s. 24.62 (1).

AB56-ASA1,335q Section 335q. 24.77 of the statutes is amended to read:

AB56-ASA1,285,23 24.77 Common school fund income. The common school fund income is constituted of the interest derived from the common school fund and from unpaid balances of purchase money on sales of common school lands; and all other revenues derived from the common school lands; but the common school fund income and interest and revenues derived from the common school fund and from common school lands do not include expenses deducted from gross receipts permitted under ss. 24.04 (2), 24.53 and 24.62 (1).

AB56-ASA1,335r Section 335r. 24.80 of the statutes is amended to read:

AB56-ASA1,286,11 24.80 Normal school fund. The lands and moneys described in s. 24.79, not being granted for any other specified purpose, accrue to the school fund under article X, section 2, of the constitution; and having been found unnecessary for the support and maintenance of common schools, are appropriated to the support and maintenance of state universities and suitable libraries and apparatus therefor, and to that end are set apart and denominated the “Normal School Fund". All lands, moneys, loans, investments, and securities set apart to the normal school fund and all swamp lands and income and interest received on account of the capital of that fund constitute a separate and perpetual fund. Normal school fund income, interest and revenues do not include expenses deducted from gross receipts permitted under ss. 24.04 (2), 24.53 and 24.62 (1).

AB56-ASA1,335s Section 335s. 24.81 of the statutes is amended to read:

AB56-ASA1,286,18 24.81 University fund. All moneys accruing to the state under article X, section 6, of the constitution, and all other moneys paid into the state treasury on account of the capital of the university fund, constitute the university fund, which is a separate and perpetual fund. University fund income, interest and revenues do not include expenses deducted from gross receipts permitted under ss. 24.04 (2), 24.53 and 24.62 (1).

AB56-ASA1,335t Section 335t. 24.82 of the statutes is amended to read:

AB56-ASA1,287,6 24.82 Agricultural college fund. All moneys derived from the sale of the lands and land scrip accruing to the state by virtue of the act of congress approved July 2, 1862, entitled “an act donating public lands to the several states and territories which may provide colleges for the benefit of agricultural and the mechanic arts," and income and interest received on account of the capital of the agricultural college fund, constitute the agricultural college fund, which is a separate and perpetual fund and shall remain forever undiminished. Agricultural college fund income, interest and revenues do not include expenses deducted from gross receipts permitted under ss. 24.04 (2), 24.53 and 24.62 (1). If this fund is by any action or contingency impaired, a state tax is hereby levied sufficient to replace the same, to be collected with the state taxes for the next ensuing year and paid into this fund.

AB56-ASA1,336 Section 336 . 25.17 (1) (ge) of the statutes is repealed.

AB56-ASA1,337 Section 337 . 25.17 (1) (xp) of the statutes is repealed.

AB56-ASA1,338 Section 338 . 25.36 (1) of the statutes is amended to read:

AB56-ASA1,288,5 25.36 (1) Except as provided in sub. (2), all moneys appropriated or transferred by law shall constitute the veterans trust fund which shall be used for the lending of money to the mortgage loan repayment fund under s. 45.37 (5) (a) 12. and for the veterans programs under ss. 20.485 (2) (m), (tm), (u), and (z), and (5) (mn), (v), (vo), and (zm), 45.03 (19), 45.07, 45.20, 45.21, 45.40 (1m), 45.41, 45.42, 45.43, and 45.82 and administered by the department of veterans affairs, including all moneys received from the federal government for the benefit of veterans or their dependents, and for the veteran grant jobs pilot program under s. 38.31 administered by the technical college system board; all moneys paid as interest on and repayment of loans under the post-war rehabilitation fund; soldiers rehabilitation fund, veterans housing funds as they existed prior to July 1, 1961; all moneys paid as interest on and repayment of loans under this fund; all moneys paid as expenses for, interest on, and repayment of veterans trust fund stabilization loans under s. 45.356, 1995 stats.; all moneys paid as expenses for, interest on, and repayment of veterans personal loans; the net proceeds from the sale of mortgaged properties related to veterans personal loans; all mortgages issued with the proceeds of the 1981 veterans home loan revenue bond issuance purchased with moneys in the veterans trust fund; all moneys received from the state investment board under s. 45.42 (8) (b); all moneys received from the veterans mortgage loan repayment fund under s. 45.37 (7) (a) and (c); and all gifts of money received by the board of veterans affairs for the purposes of this fund.

AB56-ASA1,338m Section 338m. 25.40 (1) (k) of the statutes is created to read:

AB56-ASA1,288,7 25.40 (1) (k) Fees deposited under s. 168.128.

AB56-ASA1,339 Section 339 . 25.43 (3) of the statutes is amended to read:

AB56-ASA1,288,13 25.43 (3) Except for the purpose of investment as provided in s. 25.17 (2) (d), the environmental improvement fund may be used only for the purposes authorized under ss. 20.320 (1) (r), (s), (sm), (t), and (x) and (2) (r), (s), and (x), 20.370 (4) (mt), (mx) and (nz), (8) (mr) and (9) (mt), (mx) and (ny), 20.505 (1) (v), (x) and (y), 281.58, 281.59, 281.60, 281.61, 281.62, and 283.31.

AB56-ASA1,339d Section 339d. 25.46 of the statutes is renumbered 25.46 (1).

AB56-ASA1,339f Section 339f. 25.46 (2m) of the statutes is created to read:

AB56-ASA1,288,19 25.46 (2m) Of the moneys described in sub. (1) that are received for the purpose of environmental management, except the moneys described in sub. (1) (ej), (ek), (hm), (j), (jj), (t), and (u), $6,150,000 shall, in each fiscal year, be considered to have been received for the purpose of nonpoint source water pollution abatement.

AB56-ASA1,339m Section 339m. 25.47 (1) of the statutes is amended to read: