Senate Bill 62 proposes amendments to the statutes governing the Wisconsin Health and Educational Facilities Authority (WHEFA) to enhance its financing capabilities and employee compensation structures. The bill allows WHEFA to issue bonds not only for specific projects but also to finance the working capital of nonprofit institutions, thereby covering their operating costs. Additionally, it modifies the criteria for financing out-of-state projects, permitting WHEFA to support such projects if the owner or operator, or an affiliate, has a presence in Wisconsin, rather than requiring a substantial component of the project to be located within the state.

Furthermore, the bill increases the maximum salary range for the executive director of WHEFA from executive salary group six to group eight, and for other employees from group three to group five. These changes aim to attract and retain qualified personnel within the authority. The bill also clarifies that bonds issued for working capital purposes are not exempt from certain taxation provisions, ensuring transparency in financial operations. Overall, the legislation seeks to strengthen WHEFA's role in supporting health and educational institutions while improving its operational framework.

Statutes affected:
Bill Text: 231.02(2), 231.02, 231.03(13), 231.03, 231.08(8), 231.08