WI AB254

Expands the toll revenue base for the Chippewa and Flambeau Improvement Company by allowing tolls to cover taxes, depreciation, working capital allowances, and costs of acquiring and improving the reservoir system—previously prohibited under existing law.

Changes toll liability for water power operators so that those operating for 2 or more months during a 6-month toll period are now subject to tolls for the entire period, reversing the current exemption.

Removes the restriction limiting negotiable interest-bearing bonds to no more than half the cost of acquiring dams, reservoirs, and rights, allowing potentially greater bond financing.

Eliminates the prohibition on paying stockholder dividends while company bonds are outstanding and removes the requirement to invest capital stock earnings into a sinking fund to retire bonds.

Updates the state's buyout provision so that if Wisconsin exercises its right to acquire company property, it would pay the total capital invested (including bond par value) rather than just cash paid on capital stock.