Assembly Bill 63 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 from executive salary group six to group eight, and for other WHEFA employees from group three to group five. These changes aim to attract and retain qualified personnel within the authority. The bill also clarifies that loans made by WHEFA can cover both project costs and working capital, ensuring that participating institutions have the necessary financial support for their operations.

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