Senate Bill 255 proposes significant amendments to the regulation of the Chippewa and Flambeau Improvement Company, primarily focusing on the tolls charged for water power operations. The bill allows the company to levy 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 taxes, depreciation, and working capital, while also changing the criteria for toll liability, making operators who use water power for at least two months during a six-month period subject to tolls for the entire duration. The bill also removes restrictions on the funding of improvements through negotiable bonds and allows the company to pay dividends to stockholders even when bonds are outstanding.

Further amendments include the requirement for the company to provide detailed financial statements to the Public Service Commission, including expenditures for maintenance, operation, and depreciation. The bill also modifies the conditions under which the company can issue bonds and the application of tolls collected, allowing for greater financial flexibility. Overall, these changes aim to enhance the operational capacity and financial sustainability of the Chippewa and Flambeau Improvement Company while ensuring that tolls reflect the benefits received by water power operators.

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)
Text as Enrolled: 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)