2003 WISCONSIN ACT 109
An Act to renumber and amend 231.01 (4m); and to create 231.01 (4m) (a) and (b) and 231.28 of the statutes; relating to: authorizing the Wisconsin Health and Educational Facilities Authority to issue bonds to finance a project undertaken for a facility used for education by a private, tax-exempt institution.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
109, s. s. 1g
231.01 (4m) of the statutes is renumbered 231.01 (4m) (intro.) and amended to read:
(intro.) "Educational facility" means a regionally accredited, private, postsecondary educational facility used for education by a private
institution that is
described in section 501
(c) (3) of the Internal Revenue Code, as defined in s. 71.22 (4), that is exempt from federal taxation under section 501
(a) of the Internal Revenue Code., and that satisfies any of the following:
109, s. s. 1r
231.01 (4m) (a) and (b) of the statutes are created to read:
231.01 (4m) (a) The institution is a postsecondary educational institution that is regionally accredited.
(b) The institution is a private elementary or secondary school that is accredited to the satisfaction of the authority.
109, s. s. 1t
231.28 of the statutes is created to read:
231.28 Minority business participation. The authority shall ensure that, in any project that is financed under this chapter after the effective date of this section .... [revisor inserts date], and that relates to an educational facility, other than a postsecondary educational institution, all minority business participation requirements that apply to the project under state statute or administrative rule are complied with.