25.405 Transportation infrastructure loan fund.
(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. 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.
History: 1997 a. 27.
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