Wisconsin 2023-2024 Regular Session

Wisconsin Senate Bill SB690 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 SENATE BILL 690
5	5	November 21, 2023 - Introduced by Senators JAMES and FEYEN, cosponsored by
6	6	Representatives ROZAR, ARMSTRONG, BEHNKE and NOVAK. Referred to
7	7	Committee on Government Operations.
8	8	AN ACT to amend 231.02 (2), 231.03 (13) and 231.08 (8); and to create 231.03
9	9	(6) (L) of the statutes; relating to: financing the operating costs and certain
10	10	out-of-state projects of nonprofit institutions and compensation of employees
11	11	of the Wisconsin Health and Educational Facilities Authority.
12	12	Analysis by the Legislative Reference Bureau
13	13	This bill makes the following changes to laws governing the Wisconsin Health
14	14	and Educational Facilities Authority, which is a public body corporate and politic
15	15	created outside of official state government:
16	16	1. Under current law, WHEFA may issue bonds to finance certain projects of
17	17	health, educational, research, and other nonprofit institutions. The bill authorizes
18	18	WHEFA to issue bonds for the purpose of financing working capital of such
19	19	institutions to cover operating costs.
20	20	2. Current law authorizes WHEFA to help finance the costs of projects located
21	21	outside of Wisconsin provided that the project includes a substantial component
22	22	located within the state. The bill instead authorizes the financing of a project outside
23	23	the state if the owner or operator of the project, or an affiliate of the owner or operator,
24	24	has a presence within the state.
25	25	3. Under current law, WHEFA appoints an executive director to administer the
26	26	authority. The executive director's compensation may not exceed the maximum of
27	27	the salary range established for state government positions assigned to executive
28	28	salary group six. This bill increases that maximum assignment to executive salary
29	29	group eight.
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36	36	4. Similarly, current law provides that all other WHEFA employees may not
37	37	receive compensation that exceeds the maximum of the salary range established for
38	38	state government positions assigned to executive salary group three. This bill
39	39	increases that maximum assignment to executive salary group five.
40	40	For further information see the state fiscal estimate, which will be printed as
41	41	an appendix to this bill.
42	42	The people of the state of Wisconsin, represented in senate and assembly, do
43	43	enact as follows:
44	44	SECTION 1. 231.02 (2) of the statutes is amended to read:
45	45	231.02 (2) The authority shall appoint an executive director and associate
46	46	executive director who shall not be members of the authority and who shall serve at
47	47	the pleasure of the authority. They shall receive such compensation as the authority
48	48	fixes, except that the compensation of the executive director shall not exceed the
49	49	maximum of the salary range established under s. 20.923 (1) for positions assigned
50	50	to executive salary group 6 8 and the compensation of each other employee of the
51	51	authority shall not exceed the maximum of the salary range established under s.
52	52	20.923 (1) for positions assigned to executive salary group 3 5. The executive
53	53	director or associate executive director or other person designated by resolution of
54	54	the authority shall keep a record of the proceedings of the authority and shall be
55	55	custodian of all books, documents, and papers filed with the authority, the minute
56	56	book or journal of the authority, and its official seal. The executive director or
57	57	associate executive director or other person may cause copies to be made of all
58	58	minutes and other records and documents of the authority and may give certificates
59	59	under the official seal of the authority to the effect that such copies are true copies,
60	60	and all persons dealing with the authority may rely upon such certificates.
61	61	SECTION 2. 231.03 (6) (L) of the statutes is created to read:
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82	82	SECTION 2
83	83	SENATE BILL 690
84	84	231.03 (6) (L) In an amount not to exceed that approved by the authority,
85	85	finance working capital of any participating health institution, participating
86	86	educational institution, participating nonprofit institution, or participating
87	87	research institution for the purpose of covering operating expenses. Bonds issued
88	88	for purposes of this paragraph are not exempt from taxation under s. 71.05 (1) (c) 14.,
89	89	71.26 (1m) (o), or 71.45 (1t) (n).
90	90	SECTION 3. 231.03 (13) of the statutes is amended to read:
91	91	231.03 (13) Make loans to any participating health institution, participating
92	92	educational institution, participating nonprofit institution, or participating
93	93	research institution for the cost of a project or to finance working capital under sub.
94	94	(6) (L) in accordance with an agreement between the authority and the participating
95	95	health institution, participating educational institution, participating nonprofit
96	96	institution, or participating research institution. The authority may secure the loan
97	97	by a mortgage or other security arrangement on the health facility, educational
98	98	facility, nonprofit facility, or research facility granted by the participating health
99	99	institution, participating educational institution, participating nonprofit
100	100	institution, or participating research institution to the authority. The loan may not
101	101	exceed, as applicable, the total cost of the project as determined by the participating
102	102	health institution, participating educational institution, participating nonprofit
103	103	institution, or participating research institution and approved by the authority or
104	104	the amount of working capital approved by the authority under sub. (6) (L).
105	105	SECTION 4. 231.08 (8) of the statutes is amended to read:
106	106	231.08 (8) The proceeds of a bond issued under this section may be used for a
107	107	project in this state or any other state, except that if the proceeds of a bond are used
108	108	for a project located in another state, that project shall include a substantial
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135	135	SECTION 4 SENATE BILL 690
136	136	component located in this state, as determined by the executive director the owner
137	137	or operator of that project, or its affiliate, shall have a presence in this state.
138	138	(END)
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