Assembly Bill 254 proposes significant amendments to the regulation of the Chippewa and Flambeau Improvement Company, primarily focusing on the management and financial operations related to its reservoir system. The bill allows the company to levy tolls for the acquisition and improvement of its reservoir system, which is currently prohibited. Additionally, it permits tolls to cover costs associated with taxes, depreciation, and working capital, while also changing the criteria for toll liability for water power operators. The bill removes existing restrictions on the issuance of negotiable bonds and the payment of dividends to stockholders while bonds are outstanding, thereby enhancing the company's financial flexibility.

Key changes include the renumbering of existing statutes, the creation of a new definition for "capital invested," and the elimination of various restrictions on tolls and bond issuance. For instance, the bill allows tolls to exceed previous limits and be used for broader financial purposes, including operational costs and capital improvements. Furthermore, it modifies the requirements for reporting to the Public Service Commission and the conditions under which the state can take ownership of the company's assets. Overall, these amendments aim to modernize the operational framework of the Chippewa and Flambeau Improvement Company, facilitating better management of water resources and financial sustainability.

Statutes affected:
Bill Text: 182.71(5)(b), 182.71, 182.71(5)(c), 182.71(5)(f), 182.71(6)(intro.), 182.71(6)(a), 182.71(6)(f), 182.71(7)(c), 182.71(7)(d), 182.71(8)