2003 - 2004 LEGISLATURE
February 18, 2003 - Introduced by Representatives Wieckert, Vukmir, Jensen,
Montgomery, Owens, Van Roy, Hines, Ladwig, Bies, J. Wood, Kaufert,
Ainsworth, Vrakas, Hundertmark, F. Lasee, McCormick and J. Fitzgerald,
cosponsored by Senators Kanavas, Schultz, S. Fitzgerald, Welch and Ellis.
Referred to Committee on Education Reform.
1An Act to amend
231.01 (4m) of the statutes; relating to: authorizing the
2Wisconsin Health and Educational Facilities Authority to issue bonds to
3finance a project undertaken for a facility used for education by a private,
Analysis by the Legislative Reference Bureau
Under current law, the Wisconsin Health and Educational Facilities Authority
(WHEFA) may issue bonds to finance certain projects undertaken for educational
facilities. Projects that may be financed include, among others, the construction,
remodeling, furnishing, or equipping of an educational facility or related structure.
An educational facility is defined as a regionally accredited, private, nonprofit
postsecondary educational institution. This bill redefines an educational facility as
a facility used for education by a regionally accredited, private, nonprofit institution
so that the education-related projects for which WHEFA may issue bonds are not
limited to facilities and related structures for postsecondary education purposes.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB79, s. 1
231.01 (4m) of the statutes is amended to read:
"Educational facility" means a facility used for education by a 2
regionally accredited, private, postsecondary educational
institution that is 3
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 5