WI SB255

Creates a new statutory definition of "capital invested" to include both paid-in capital and the par value of all negotiable bonds or other obligations issued by the Chippewa and Flambeau Improvement Company

Modifies toll calculation provisions to allow the company to recover costs including taxes, depreciation, rent, a net annual return on capital invested, and a reasonable allowance for working capital

Removes the restriction limiting negotiable bond issuance to one-half of the total cost of improvements for acquiring dams and reservoirs

Eliminates the requirement that stock earnings be invested in a sinking fund to retire outstanding bonds and the prohibition on paying dividends while bonds are outstanding

Updates state takeover provisions to base compensation on "total capital invested" rather than only cash capital paid on stock when Wisconsin exercises its right to acquire company properties