Relating to: regulation of the Chippewa and Flambeau Improvement Company.

AB 254 amends statutes governing the Chippewa and Flambeau Improvement Company’s regulation of water reservoirs. It defines "capital invested" as paid-in capital plus bond par value and sets rules for tolls charged to owners/operators of water power facilities on the Chippewa or Flambeau rivers that benefit from the reservoirs. Tolls must cover operational costs, taxes, depreciation, a 6% annual return on capital invested, and working capital, but cannot fund original reservoir construction. The bill requires semiannual toll adjustments based on benefits received and grants the state the right to take over the reservoirs at fair market value without compensating for business goodwill.