Senate Bill 62 proposes amendments to the statutes governing the Wisconsin Health and Educational Facilities Authority (WHEFA) to enhance its operational 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. This change aims 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, these amendments are designed to strengthen WHEFA's ability to support health and educational institutions in Wisconsin and beyond.

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