1. (1) The department shall periodically review, and may periodically change, the market interest rate. The market interest rate set by the department under this section shall be the market interest rate for the purpose of ss. 281.58 (12) and 281.61 (11), Stats. The department may consider any of the following factors when establishing or changing the market interest rate:

   1. (a) Municipal bond market indexes.
   2. (b) Comparable bond market transactions.
   3. (c) Expectations for bond market changes to the next planned periodic market interest rate review.
   4. (d) Effective interest rates for environmental improvement fund revenue obligations issued under s. 281.59 (4), Stats.
   5. (e) Efficient administration of the environmental improvement fund.
2. (2) The department may review and change the market interest rate at any time as necessary to aid the purposes of ss. 281.58, 281.59, and 281.61, Stats.

3. (3) The department may set multiple market interest rates applicable to different types of obligations, including the following:

   1. (a) Obligations of different final or average maturity.
   2. (b) Taxable obligations as compared to tax-exempt obligations.

History

History: Cr. Register, September, 1991, No. 429, eff. 10-1-91; CR 22-079: r. (intro.), renum. (1) to (1) (intro.) and am., cr. (1) (a) to (e), r. and recr. (2), (3) Register July 2023 No. 811, eff. 8-1-23.