February 8, 2024 - Introduced by Representatives Armstrong and Brooks, cosponsored by Senator Quinn. Referred to Committee on Housing and Real Estate.
AB1075,,22An Act to amend 234.66 (4) (f) of the statutes; relating to: regional allocation of residential housing infrastructure revolving loan. AB1075,,33Analysis by the Legislative Reference Bureau Current law authorizes the Wisconsin Housing and Economic Development Authority to award revolving loans to residential housing developers for eligible housing infrastructure projects supporting workforce and senior housing. Among other loan requirements, current law requires WHEDA to divide the state into regions based on the service jurisdiction of each regional planning commission constituted under current law, with the counties not served by a regional planning commission constituting collectively one region. Current law provides that no such region may receive more than 25 percent of such loan amounts in any given application cycle.
This bill changes that 25 percent loan award allocation requirement to provide that no such region may receive more than 12.5 percent of the moneys appropriated for such loans in the 2023-25 fiscal biennium.
AB1075,,44The people of the state of Wisconsin, represented in senate and assembly, do enact as follows: AB1075,,66234.66 (4) (f) The authority shall divide the state into regions based on the service jurisdiction as of June 24, 2023, of each regional planning commission constituted under s. 66.0309, with the counties not served by a regional planning commission as of that date constituting collectively one region. Of all moneys deposited in the fund under sub. (2) (a) 1. in the 2023-25 fiscal biennium, no region may receive more than 25 12.5 percent of those moneys in loans awarded under this subsection and sub. (5) in any given application cycle.
