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1. The number of jobs that will be created in connection with the eligible
workforce housing project.
2. The amount of matching funds secured by the applicant.
3. The applicant's readiness to proceed with the project.
Under the bill, WHEDA may not certify a person to claim a workforce housing
tax credit in an amount that exceeds 50 percent of the total cost of the eligible
workforce housing project. Additionally, WHEDA may not award more than
$10,000,000 in workforce housing tax credits and no credit may be awarded after
December 31, 2021. The bill requires WHEDA to transfer $10,000,000 from its
surplus fund to the state's general fund as an offset against the tax credits WHEDA
awards under the program.
Additionally, the bill includes certain contracting and tax credit revocation
requirements and requires WHEDA to coordinate with the Wisconsin Economic
Development Corporation to administer the tax credit program. WHEDA must
submit a report on the program to the Joint Committee on Finance no later than
September 31, 2022.
Reports on economic development revolving loan funds
This bill also requires the Department of Administration to submit an annual
report to the Joint Committee on Finance concerning moneys held by DOA in
connection with economic development revolving loan funds funded by federal
community development block grants administered by DOA, including all moneys
derived from the liquidation and close-out of such a revolving loan fund. The report
must include all of the following:
1. The balance of the account associated with each revolving loan fund.
2. The accounts receivable for each such account.
3. A detailed description of all expenditures from the account, including a
description of each project funded by a grant awarded from the account.
4. A detailed description of all expenditures from the account DOA intends to
make before March 15 of the year following the report. Under the bill, if JCF objects
to any such intended expenditure, JCF may reallocate the moneys consistent with
federal requirements for expenditure of the moneys.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB544,1
1Section 1. 16.309 (4) of the statutes is created to read:
AB544,3,62 16.309 (4) (a) In this subsection, “revolving loan fund account” means all
3moneys held by the department in connection with each economic development
4revolving loan fund that is funded by a community development block grant under
5this section, including all moneys derived from the liquidation and close-out of the
6revolving loan fund.
AB544,3,97 (b) Annually, no later than March 15, the department shall submit a report to
8the joint committee on finance that includes all of the following information for each
9revolving loan fund account:
AB544,3,1010 1. The account balance.
AB544,3,1111 2. All accounts receivable, if any.
AB544,3,1312 3. A detailed description of all account expenditures, including a description
13of each project funded by a grant awarded from the account.
AB544,3,1514 4. A detailed description of all account expenditures the department intends
15to make before March 15 of the year following the report.
AB544,3,1816 (c) If the joint committee on finance objects to any intended expenditure of
17moneys detailed under par. (b) 4., the committee may reallocate those moneys
18consistent with federal requirements for expenditure of the moneys.
AB544,2 19Section 2 . 71.07 (8f) of the statutes is created to read:
AB544,3,2020 71.07 (8f) Workforce housing credit. (a) Definitions. In this subsection:
AB544,3,2221 1. “Allocation certificate" means an allocation certificate issued by the
22Wisconsin Housing and Economic Development Authority under s. 234.045 (3) (a).
AB544,3,2323 2. “Claimant” means a person who files a claim under this subsection.
AB544,4,224 (b) Filing claims. For taxable years beginning after December 31, 2019, subject
25to the limitations provided in this subsection and in s. 234.045, a claimant may claim

1as a credit against the tax imposed under s. 71.02, up to the amount of the tax, the
2amount specified in the allocation certificate.
AB544,4,43 (c) Limitations. 1. No person may claim the credit under par. (b) unless the
4claimant includes with the claimant's return a copy of the allocation certificate.
AB544,4,115 2. A partnership, limited liability company, or tax-option corporation may not
6claim the credit under this subsection, but the eligibility for and amount of the credit
7are based on the amount specified in the allocation certificate. A partnership, limited
8liability company, or tax-option corporation shall compute the amount of credit that
9each of its partners, members, or shareholders may claim and shall provide that
10information to each of them. Partners, members, and shareholders may claim the
11credit in proportion to their ownership interests.
AB544,4,1812 (d) Carry-forward credit. If the credit that a claimant may claim under par.
13(b) is not entirely offset against Wisconsin income or franchise taxes otherwise due,
14the unused balance shall be carried forward and credited against Wisconsin income
15or franchise taxes otherwise due for the following 10 taxable years to the extent not
16offset by these taxes in all intervening years between the year in which the credit is
17allowed under the allocation certificate and the year in which the carry-forward
18credit is claimed.
AB544,4,2319 (e) Transfer. Any person may sell or otherwise transfer the credit under par.
20(b), in whole or in part, to another person who is subject to the taxes or fees imposed
21under s. 71.02, 71.23, or 71.43 or subch. III of ch. 76 if the person notifies the
22department of the transfer and submits with the notification a copy of the transfer
23documents, and the department certifies the change in the credit's ownership.
AB544,4,2524 (f) Administration. Section 71.28 (4) (e), (g), and (h), as it applies to the credit
25under s. 71.28 (4), applies to the credit under this subsection.
AB544,3
1Section 3. 71.10 (4) (fd) of the statutes is created to read:
AB544,5,22 71.10 (4) (fd) Workforce housing credit under s. 71.07 (8f).
AB544,4 3Section 4 . 71.28 (8f) of the statutes is created to read:
AB544,5,44 71.28 (8f) Workforce housing credit. (a) Definitions. In this subsection:
AB544,5,65 1. “Allocation certificate" means an allocation certificate issued by the
6Wisconsin Housing and Economic Development Authority under s. 234.045 (3) (a).
AB544,5,77 2. “Claimant” means a person who files a claim under this subsection.
AB544,5,118 (b) Filing claims. For taxable years beginning after December 31, 2019, subject
9to the limitations provided in this subsection and in s. 234.045, a claimant may claim
10as a credit against the tax imposed under s. 71.23, up to the amount of the tax, the
11amount specified in the allocation certificate.
AB544,5,1312 (c) Limitations. 1. No person may claim the credit under par. (b) unless the
13claimant includes with the claimant's return a copy of the allocation certificate.
AB544,5,2014 2. A partnership, limited liability company, or tax-option corporation may not
15claim the credit under this subsection, but the eligibility for and amount of the credit
16are based on the amount specified in the allocation certificate. A partnership, limited
17liability company, or tax-option corporation shall compute the amount of credit that
18each of its partners, members, or shareholders may claim and shall provide that
19information to each of them. Partners, members, and shareholders may claim the
20credit in proportion to their ownership interests.
AB544,6,221 (d) Carry-forward credit. If the credit that a claimant may claim under par.
22(b) is not entirely offset against Wisconsin income or franchise taxes otherwise due,
23the unused balance shall be carried forward and credited against Wisconsin income
24or franchise taxes otherwise due for the following 10 taxable years to the extent not
25offset by these taxes in all intervening years between the year in which the credit is

1allowed under the allocation certificate and the year in which the carry-forward
2credit is claimed.
AB544,6,73 (e) Transfer. Any person may sell or otherwise transfer the credit under par.
4(b), in whole or in part, to another person who is subject to the taxes or fees imposed
5under s. 71.02, 71.23, or 71.43 or subch. III of ch. 76 if the person notifies the
6department of the transfer and submits with the notification a copy of the transfer
7documents, and the department certifies the change in the credit's ownership.
AB544,6,98 (f) Administration. Subsection (4) (e), (g), and (h), as it applies to the credit
9under sub. (4), applies to the credit under this subsection.
AB544,5 10Section 5 . 71.30 (3) (cu) of the statutes is created to read:
AB544,6,1111 71.30 (3) (cu) Workforce housing credit under s. 71.28 (8f).
AB544,6 12Section 6 . 71.47 (8f) of the statutes is created to read:
AB544,6,1313 71.47 (8f) Workforce housing credit. (a) Definitions. In this subsection:
AB544,6,1514 1. “Allocation certificate" means an allocation certificate issued by the
15Wisconsin Housing and Economic Development Authority under s. 234.045 (3) (a).
AB544,6,1616 2. “Claimant” means a person who files a claim under this subsection.
AB544,6,2017 (b) Filing claims. For taxable years beginning after December 31, 2019, subject
18to the limitations provided in this subsection and in s. 234.045, a claimant may claim
19as a credit against the tax imposed under s. 71.43, up to the amount of the tax, the
20amount specified in the allocation certificate.
AB544,6,2221 (c) Limitations. 1. No person may claim the credit under par. (b) unless the
22claimant includes with the claimant's return a copy of the allocation certificate.
AB544,7,423 2. A partnership, limited liability company, or tax-option corporation may not
24claim the credit under this subsection, but the eligibility for and amount of the credit
25are based on the amount specified in the allocation certificate. A partnership, limited

1liability company, or tax-option corporation shall compute the amount of credit that
2each of its partners, members, or shareholders may claim and shall provide that
3information to each of them. Partners, members, and shareholders may claim the
4credit in proportion to their ownership interests.
AB544,7,115 (d) Carry-forward credit. If the credit that a claimant may claim under par.
6(b) is not entirely offset against Wisconsin income or franchise taxes otherwise due,
7the unused balance shall be carried forward and credited against Wisconsin income
8or franchise taxes otherwise due for the following 10 taxable years to the extent not
9offset by these taxes in all intervening years between the year in which the credit is
10allowed under the allocation certificate and the year in which the carry-forward
11credit is claimed.
AB544,7,1612 (e) Transfer. Any person may sell or otherwise transfer the credit under par.
13(b), in whole or in part, to another person who is subject to the taxes or fees imposed
14under s. 71.02, 71.23, or 71.43 or subch. III of ch. 76 if the person notifies the
15department of the transfer and submits with the notification a copy of the transfer
16documents, and the department certifies the change in the credit's ownership.
AB544,7,1817 (f) Administration. Section 71.28 (4) (e), (g), and (h), as it applies to the credit
18under s. 71.28 (4), applies to the credit under this subsection.
AB544,7 19Section 7 . 71.49 (1) (cu) of the statutes is created to read:
AB544,7,2020 71.49 (1) (cu) Workforce housing credit under s. 71.47 (8f).
AB544,8 21Section 8 . 76.6395 of the statutes is created to read:
AB544,7,22 2276.6395 Workforce housing credit. (1) Definitions. In this section:
AB544,7,2423 (a) “Allocation certificate" means an allocation certificate issued by the
24Wisconsin Housing and Economic Development Authority under s. 234.045 (3) (a).
AB544,7,2525 (b) “Claimant” means a person who files a claim under this subsection.
AB544,8,4
1(2) Filing claims. For taxable years beginning after December 31, 2019,
2subject to the limitations provided in this section and in s. 234.045, a claimant may
3claim as a credit against the fees imposed under s. 76.60, 76.63, 76.65, 76.66, or 76.67
4the amount specified in the allocation certificate.
AB544,8,6 5(3) Limitations. No person may claim the credit under sub. (2) unless the
6claimant includes with the claimant's return a copy of the allocation certificate.
AB544,8,12 7(4) Carry-forward. If the credit that a claimant may claim under sub. (2) is
8not entirely offset against the fees under s. 76.60, 76.63, 76.65, 76.66, or 76.67
9otherwise due, the unused balance shall be carried forward and credited against
10those fees for the following 10 taxable years to the extent not offset by the fees in all
11intervening years between the year in which the credit is allowed under the
12allocation certificate and the year in which the carry-forward credit is claimed.
AB544,8,18 13(5) Transfer. Any person may sell or otherwise transfer the credit under sub.
14(2), in whole or in part, to another person who is subject to the taxes or fees imposed
15under s. 71.02, 71.23, 71.43, 76.60, 76.63, 76.65, 76.66, or 76.67 if the person notifies
16the department of the transfer and submits with the notification a copy of the
17transfer documents, and the department certifies the change in the credit's
18ownership.
AB544,9 19Section 9 . 76.67 (2) of the statutes is amended to read:
AB544,9,520 76.67 (2) If any domestic insurer is licensed to transact insurance business in
21another state, this state may not require similar insurers domiciled in that other
22state to pay taxes greater in the aggregate than the aggregate amount of taxes that
23a domestic insurer is required to pay to that other state for the same year less the
24credits under ss. 76.635, 76.636, 76.637, 76.638, 76.639, 76.6395, and 76.655, except
25that the amount imposed shall not be less than the total of the amounts due under

1ss. 76.65 (2) and 601.93 and, if the insurer is subject to s. 76.60, 0.375 percent of its
2gross premiums, as calculated under s. 76.62, less offsets allowed under s. 646.51 (7)
3or under ss. 76.635, 76.636, 76.637, 76.638, 76.639, 76.6395, and 76.655 against that
4total, and except that the amount imposed shall not be less than the amount due
5under s. 601.93.
AB544,10 6Section 10 . 234.045 of the statutes is created to read:
AB544,9,7 7234.045 Workforce housing tax credits. (1) Definitions. In this section:
AB544,9,108 (a) “Allocation certificate" means a statement issued by the authority certifying
9that an eligible recipient may claim tax benefits and specifying the amount of the tax
10benefits that the eligible recipient may claim.
AB544,9,1211 (b) “Lender" means any banking institution, savings bank, savings and loan
12association, or credit union organized under the laws of this state.
AB544,9,1413 (c) “Tax benefits” means the tax credit under ss. 71.07 (8f), 71.28 (8f), 71.47 (8f),
14and 76.6395.
AB544,9,17 15(2) Establishment of program. The authority shall establish and administer
16a program under this section for the award of tax benefits to encourage the creation
17of workforce housing in this state.
AB544,9,21 18(3) Certifications. (a) The authority may certify a person to claim tax benefits
19in an amount determined by the authority by issuing the person an allocation
20certificate. The allocation certificate shall state the amount the authority
21determines the person is eligible to claim.
AB544,9,2322 (b) With respect to any eligible workforce housing project, the authority may
23issue an allocation certificate under par. (a) to only one of the following:
AB544,9,2424 1. The lender financing the project.
AB544,9,2525 2. The business for whose benefit the project is being carried out.
AB544,10,1
13. The developer of the project.
AB544,10,32 (c) A project is an eligible workforce housing project under par. (b) only if all of
3the following requirements are satisfied:
AB544,10,64 1. The project is for the construction or renovation of residential real property
5that is located in a county with a population density of less than 155 persons per
6square mile.
AB544,10,107 2. The person applying for tax benefits demonstrates to the satisfaction of the
8authority that there is a need for additional manufacturing workers in the area in
9which the project is located and that a lack of adequate housing in the area is a
10barrier to filling that need.
AB544,10,1311 3. The occupants of the housing being constructed or renovated will have a
12household income that satisfies the income limitations applicable for home
13ownership mortgage loans under s. 234.59.
AB544,10,1614 (d) The authority may not issue an allocation certificate to a person under par.
15(b) unless the person demonstrates to the satisfaction of the authority that the
16person has exhausted all funding available from the following:
AB544,10,1717 1. Community development block grants.
AB544,10,1818 2. Local assistance, including tax incremental financing.
AB544,10,2019 3. All assistance otherwise available under programs administered by the
20authority.
AB544,10,2221 (e) The authority may charge a fee to applicants for allocation certificates under
22par. (a) for the authority's administrative costs under this section.
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