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Conservatively Speaking

State Senator Mary Lazich (R-New Berlin) represents parts of four counties: Milwaukee, Waukesha, Racine, and Walworth. Her Senate District 28 includes New Berlin, Franklin, Greendale, Hales Corners, Muskego, Waterford, Big Bend, the town of Vernon and parts of Greenfield, East Troy, and Mukwonago. Senator Lazich has been in the Legislature for more than a decade. She considers herself a tireless crusader for lower taxes, reduced spending and smaller government.

Petroleum Inspection Fee Audit

Today, the Legislative Audit Bureau released an audit of the Petroleum Inspection Fee Revenue Obligations Program.  

The petroleum inspection fee is levied at $0.02 per gallon against suppliers of petroleum products sold in Wisconsin.  This money is used for debt service on revenue bonds and commercial paper issued to pay claims arising under Wisconsin’s Petroleum Environmental Cleanup Fund Award (PECFA) program.

 

Under current law, the state may issue up to $386.9 million in revenue bonds and commercial paper to finance PECFA claims.  However, with debt obligations of $188.7 million as of June 30, 2011, the program is well within the statutory limit.

 

During FY 2010-11, petroleum fees paid a total of $8.8 million in PECFA claims.  This is down from $9.5 million during FY 2009-10 and $10.4 million during 2008-09.  These decreases resulted from the identification of fewer new cleanup sites and a decrease in the average value of claims.

 

Thank you to the Wisconsin Legislative Audit Bureau for the PECFA Financial Audit.  Here is a link to the audit: http://legis.wisconsin.gov/lab/reports/11-12full.pdf

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