Wisconsin Legislative Council
AMENDMENT MEMO
One Ea st Ma in Stre e t, Suite 401 • Ma dison, W I 53703 • (608) 266-1304 • le g.council@le gis.wisconsin.gov • http://www.le gis.wisconsin.gov/lc
Memo published: October 6, 2023 Contact: Emily Hicks, Staff Attorney
2023 Senate Bill 83
Senate
Amendment 1
2023 SENATE BILL 83
Under Wisconsin law, when a municipality
1
seeks to issue bonds, it generally must first hold a
referendum on the question. The referendum question must contain a statement of the purpose for
which bonds are being issued, as well as the maximum amount of the bonds to be issued.
Under 2023 Senate Bill 83, the referendum question must also contain the estimated amount of interest
accruing on the amount of the bonds, as well as the interest rate. If the interest rate is a variable rate,
the referendum question must specify the amount of the interest accruing on the amount of the bonds
calculated by using both the lowest rate during the term for which the rate is applicable as well as the
highest rate during the term for which the rate is applicable.
SENATE AMENDMENT 1
Senate Amendment 1 requires that municipalities make a good-faith effort when calculating the amount
of the interest accruing on the bonds.
BILL HISTORY
Senator Cabral-Guevara offered Senate Amendment 1 on June 9, 2023. On October 3, 2023, the Senate
Committee on Education recommended adoption of Senate Amendment 1 and passage of the bill, as
amended, on a vote of Ayes, 5; Noes, 2.
For a full history of the bill, visit the Legislature’s bill history page.
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1
The term “municipality” includes counties, cities, villages, towns, school districts, board of park commissioners,
technical college districts, metropolitan sewerage districts, town sanitary districts, public inland lake protection and
rehabilitation districts, and any other public body empowered to borrow money and issue obligations to repay the
money out of public funds. The term “municipality” does not include the state. [s. 67.01 (5), Stats.]