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Bill > SB62

WI SB62

Financing the operating costs and certain out-of-state projects of nonprofit institutions and compensation of employees of the Wisconsin Health and Educational Facilities Authority. (FE)

summary

Introduced
02/21/2025
In Committee
06/03/2025
Crossed Over
Passed
Dead

Introduced Session

2025-2026 Regular Session

Bill Summary

This bill makes the following changes to laws governing the Wisconsin Health and Educational Facilities Authority, which is a public body corporate and politic created outside of official state government: 1. Under current law, WHEFA may issue bonds to finance certain projects of health, educational, research, and other nonprofit institutions. The bill authorizes WHEFA to issue bonds for the purpose of financing working capital of such institutions to cover operating costs. 2. Current law authorizes WHEFA to help finance the costs of projects located outside of Wisconsin provided that the project includes a substantial component located within the state. The bill instead authorizes the financing of a project outside the state if the owner or operator of the project, or an affiliate of the owner or operator, has a presence within the state. 3. Under current law, WHEFA appoints an executive director to administer the authority. The executive director[s compensation may not exceed the maximum LRB-1943/1 MDE:cdc 2025 - 2026 Legislature SENATE BILL 62 of the salary range established for state government positions assigned to executive salary group six. This bill increases that maximum assignment to executive salary group eight. 4. Similarly, current law provides that all other WHEFA employees may not receive compensation that exceeds the maximum of the salary range established for state government positions assigned to executive salary group three. This bill increases that maximum assignment to executive salary group five. For further information see the state fiscal estimate, which will be printed as an appendix to this bill.

AI Summary

This bill modifies several provisions related to the Wisconsin Health and Educational Facilities Authority (WHEFA), a public body that helps nonprofit institutions finance projects. First, the bill expands WHEFA's bonding authority to allow financing of working capital and operating expenses for participating health, educational, nonprofit, and research institutions, with the caveat that these bonds will not be tax-exempt. Second, the bill changes the requirements for financing out-of-state projects, replacing the current rule that requires a "substantial component" in Wisconsin with a more flexible standard that simply requires the project's owner, operator, or an affiliate to have a presence in the state. Third, the bill increases the maximum salary levels for WHEFA's executive director and other employees by raising the applicable executive salary groups - for the executive director from group six to group eight, and for other employees from group three to group five. These changes are intended to provide WHEFA with more flexibility in supporting nonprofit institutions' financial needs and in compensating its leadership, while maintaining oversight through approval processes and specific funding limitations.

Committee Categories

Business and Industry

Sponsors (8)

Last Action

Representative O'Connor added as a cosponsor (on 06/24/2025)

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