Wisconsin 2023-2024 Regular Session

Wisconsin Assembly Bill AB724 Compare Versions

Only one version of the bill is available at this time.

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3	3	2023 - 2024 LEGISLATURE
4	4	2023 ASSEMBLY BILL 724
5	5	December 6, 2023 - Introduced by Representatives ROZAR, ARMSTRONG, BEHNKE and
6	6	NOVAK, cosponsored by Senators JAMES and FEYEN. Referred to Committee on
7	7	State Affairs.
8	8	*AUTHORS SUBJECT TO CHANGE*
9	9	AN ACT to amend 231.02 (2), 231.03 (13) and 231.08 (8); and to create 231.03
10	10	(6) (L) of the statutes; relating to: financing the operating costs and certain
11	11	out-of-state projects of nonprofit institutions and compensation of employees
12	12	of the Wisconsin Health and Educational Facilities Authority.
13	13	Analysis by the Legislative Reference Bureau
14	14	This bill makes the following changes to laws governing the Wisconsin Health
15	15	and Educational Facilities Authority, which is a public body corporate and politic
16	16	created outside of official state government:
17	17	1. Under current law, WHEFA may issue bonds to finance certain projects of
18	18	health, educational, research, and other nonprofit institutions. The bill authorizes
19	19	WHEFA to issue bonds for the purpose of financing working capital of such
20	20	institutions to cover operating costs.
21	21	2. Current law authorizes WHEFA to help finance the costs of projects located
22	22	outside of Wisconsin provided that the project includes a substantial component
23	23	located within the state. The bill instead authorizes the financing of a project outside
24	24	the state if the owner or operator of the project, or an affiliate of the owner or operator,
25	25	has a presence within the state.
26	26	3. Under current law, WHEFA appoints an executive director to administer the
27	27	authority. The executive director's compensation may not exceed the maximum of
28	28	the salary range established for state government positions assigned to executive
29	29	salary group six. This bill increases that maximum assignment to executive salary
30	30	group eight.
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37	37	4. Similarly, current law provides that all other WHEFA employees may not
38	38	receive compensation that exceeds the maximum of the salary range established for
39	39	state government positions assigned to executive salary group three. This bill
40	40	increases that maximum assignment to executive salary group five.
41	41	For further information see the state fiscal estimate, which will be printed as
42	42	an appendix to this bill.
43	43	The people of the state of Wisconsin, represented in senate and assembly, do
44	44	enact as follows:
45	45	SECTION 1. 231.02 (2) of the statutes is amended to read:
46	46	231.02 (2) The authority shall appoint an executive director and associate
47	47	executive director who shall not be members of the authority and who shall serve at
48	48	the pleasure of the authority. They shall receive such compensation as the authority
49	49	fixes, except that the compensation of the executive director shall not exceed the
50	50	maximum of the salary range established under s. 20.923 (1) for positions assigned
51	51	to executive salary group 6 8 and the compensation of each other employee of the
52	52	authority shall not exceed the maximum of the salary range established under s.
53	53	20.923 (1) for positions assigned to executive salary group 3 5. The executive
54	54	director or associate executive director or other person designated by resolution of
55	55	the authority shall keep a record of the proceedings of the authority and shall be
56	56	custodian of all books, documents, and papers filed with the authority, the minute
57	57	book or journal of the authority, and its official seal. The executive director or
58	58	associate executive director or other person may cause copies to be made of all
59	59	minutes and other records and documents of the authority and may give certificates
60	60	under the official seal of the authority to the effect that such copies are true copies,
61	61	and all persons dealing with the authority may rely upon such certificates.
62	62	SECTION 2. 231.03 (6) (L) of the statutes is created to read:
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83	83	SECTION 2
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85	85	231.03 (6) (L) In an amount not to exceed that approved by the authority,
86	86	finance working capital of any participating health institution, participating
87	87	educational institution, participating nonprofit institution, or participating
88	88	research institution for the purpose of covering operating expenses. Bonds issued
89	89	for purposes of this paragraph are not exempt from taxation under s. 71.05 (1) (c) 14.,
90	90	71.26 (1m) (o), or 71.45 (1t) (n).
91	91	SECTION 3. 231.03 (13) of the statutes is amended to read:
92	92	231.03 (13) Make loans to any participating health institution, participating
93	93	educational institution, participating nonprofit institution, or participating
94	94	research institution for the cost of a project or to finance working capital under sub.
95	95	(6) (L) in accordance with an agreement between the authority and the participating
96	96	health institution, participating educational institution, participating nonprofit
97	97	institution, or participating research institution. The authority may secure the loan
98	98	by a mortgage or other security arrangement on the health facility, educational
99	99	facility, nonprofit facility, or research facility granted by the participating health
100	100	institution, participating educational institution, participating nonprofit
101	101	institution, or participating research institution to the authority. The loan may not
102	102	exceed, as applicable, the total cost of the project as determined by the participating
103	103	health institution, participating educational institution, participating nonprofit
104	104	institution, or participating research institution and approved by the authority or
105	105	the amount of working capital approved by the authority under sub. (6) (L).
106	106	SECTION 4. 231.08 (8) of the statutes is amended to read:
107	107	231.08 (8) The proceeds of a bond issued under this section may be used for a
108	108	project in this state or any other state, except that if the proceeds of a bond are used
109	109	for a project located in another state, that project shall include a substantial
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136	136	SECTION 4 ASSEMBLY BILL 724
137	137	component located in this state, as determined by the executive director the owner
138	138	or operator of that project, or its affiliate, shall have a presence in this state.
139	139	(END)
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