DOA:......Dombrowski, BB0342 - Financing projects for qualifying tax-exempt organizations
For 2025-2027 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
COMMERCE AND ECONOMIC DEVELOPMENT
Economic development
Financing projects for qualifying tax-exempt organizations
Under current law, WHEFA may issue bonds to finance certain projects of health, educational, research, and other nonprofit institutions. This bill requires that those health, educational, research, and other nonprofit institutions be located in this state, headquartered in this state, or serving a population in this state.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section 1. 231.01 (5w) of the statutes is amended to read:
231.01 (5w) “Participating educational institution” means an entity authorized by state law to provide or operate an educational facility, or an affiliate of that entity, that is located in this state, headquartered in this state, or serves a population in this state, and that undertakes the financing and construction or acquisition of a project or undertakes the refunding or refinancing of obligations or of a mortgage or of advances as provided in this chapter.
Section 2. 231.01 (6) of the statutes is amended to read:
231.01 (6) “Participating health institution” means an entity authorized by state law to provide or operate a health facility, or an affiliate of that entity, that is located in this state, headquartered in this state, or serves a population in this state, and that undertakes the financing and construction or acquisition of a project or undertakes the refunding or refinancing of obligations or of a mortgage or of advances as provided in this chapter.
Section 3. 231.01 (6m) (intro.) of the statutes is amended to read:
231.01 (6m) (intro.) “Participating nonprofit institution” means a nonprofit entity, or an affiliate of a nonprofit entity, that is located in this state, headquartered in this state, or serves a population in this state, and that undertakes the financing and construction or acquisition of a project or undertakes the refunding or refinancing of obligations or of a mortgage or of advances as provided in this chapter and is not any of the following:
Section 4. 231.01 (6t) of the statutes is amended to read:
231.01 (6t) “Participating research institution” means an entity organized under the laws of this state that provides or operates a research facility, or an affiliate of that entity, that is located in this state, headquartered in this state, or serves a population in this state, and that undertakes the financing and construction or acquisition of a project or undertakes the refunding or refinancing of obligations or of a mortgage or of advances as provided in this chapter.
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