Assembly Bill 254 proposes significant changes to the regulation of the Chippewa and Flambeau Improvement Company, particularly concerning the levying and use of tolls. The bill allows the company to charge tolls not only for operational and maintenance costs but also for the acquisition and improvement of its reservoir system, which current law prohibits. Additionally, it permits tolls to cover costs related to taxes, depreciation, and working capital. The bill also modifies the toll structure by making water power operators liable for tolls for the entire six-month period if they operate for at least two months during that time, a change from the previous law that exempted them from tolls for the full period.

Furthermore, the bill removes restrictions on the issuance of negotiable interest-bearing bonds, allowing the company to fund up to the total cost of acquiring dams and reservoirs, rather than being limited to half. It also eliminates the prohibition on paying dividends to stockholders while bonds are outstanding and the requirement to invest earnings in a sinking fund for bond retirement. These changes aim to enhance the financial flexibility of the Chippewa and Flambeau Improvement Company while ensuring the continued operation and maintenance of its water management systems.

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)