The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
231.01
(4m) (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:
(b) The institution is a private elementary or secondary school that is accredited to the satisfaction of the authority.