SB 62

This bill makes the following changes to laws governing the Wisconsin Health and Educational Facilities Authority, which is a public body corporate and politic created outside of official state government:

1. Under current law, WHEFA may issue bonds to finance certain projects of health, educational, research, and other nonprofit institutions. The bill authorizes WHEFA to issue bonds for the purpose of financing working capital of such institutions to cover operating costs.

2. Current law authorizes WHEFA to help finance the costs of projects located outside of Wisconsin provided that the project includes a substantial component located within the state. The bill instead authorizes the financing of a project outside the state if the owner or operator of the project, or an affiliate of the owner or operator, has a presence within the state.

3. Under current law, WHEFA appoints an executive director to administer the authority. The executive director’s compensation may not exceed the maximum of the salary range established for state government positions assigned to executive salary group six. This bill increases that maximum assignment to executive salary group eight.

4. Similarly, current law provides that all other WHEFA employees may not receive compensation that exceeds the maximum of the salary range established for state government positions assigned to executive salary group three. This bill increases that maximum assignment to executive salary group five.