AB50: Bill Text

AB50,2390 Section 2390. 231.01 (6) of the statutes is amended to read:

AB50,1212,4 231.01 (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.

AB50,2391 Section 2391. 231.01 (6m) (intro.) of the statutes is amended to read:

AB50,1212,11 231.01 (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:

AB50,2392 Section 2392. 231.01 (6t) of the statutes is amended to read:

AB50,1212,18 231.01 (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.

AB50,2393 Section 2393. 231.02 (2) of the statutes is amended to read:

AB50,1213,12 231.02 (2) The authority shall appoint an executive director and associate executive director who shall not be members of the authority and who shall serve at the pleasure of the authority. They shall receive such compensation as in an amount determined by the authority fixes, except that the compensation of the executive director shall not exceed the maximum of the salary range established under s. 20.923 (1) for positions assigned to executive salary group 6 and the compensation of each other employee of the authority shall not exceed the maximum of the salary range established under s. 20.923 (1) for positions assigned to executive salary group 3. The executive director or associate executive director or other person designated by resolution of the authority shall keep a record of the proceedings of the authority and shall be custodian of all books, documents, and papers filed with the authority, the minute book or journal of the authority, and its official seal. The executive director or associate executive director or other person may cause copies to be made of all minutes and other records and documents of the authority and may give certificates under the official seal of the authority to the effect that such copies are true copies, and all persons dealing with the authority may rely upon such certificates.

AB50,2394 Section 2394. 231.03 (6) (L) of the statutes is created to read:

AB50,1213,18 231.03 (6) (L) Finance working capital needs of any participating health institution, participating educational institution, participating nonprofit institution, or participating research institution in an amount not to exceed that approved by the authority. Bonds issued for purposes of this paragraph are not exempt from taxation under s. 71.05 (1) (c) 14., 71.26 (1m) (o), or 71.45 (1t) (n).

AB50,2395 Section 2395. 231.03 (13) of the statutes is amended to read:

AB50,1214,10 231.03 (13) Make loans to any participating health institution, participating educational institution, participating nonprofit institution, or participating research institution for the cost of a project or to finance working capital under sub. (6) (L) in accordance with an agreement between the authority and the participating health institution, participating educational institution, participating nonprofit institution, or participating research institution. The authority may secure the loan by a mortgage or other security arrangement on the health facility, educational facility, nonprofit facility, or research facility granted by the participating health institution, participating educational institution, participating nonprofit institution, or participating research institution to the authority. The loan may not exceed, as applicable, the total cost of the project as determined by the participating health institution, participating educational institution, participating nonprofit institution, or participating research institution and approved by the authority or the amount of working capital approved by the authority under sub. (6) (L).

AB50,2396 Section 2396. 234.18 (1) of the statutes is renumbered 234.18 and amended to read:

AB50,1214,18 234.18 The authority may not issue notes and bonds that are secured by a capital reserve fund to which s. 234.15 (4) applies if, upon issuance, the total aggregate outstanding principal amount of notes and bonds that are secured by a capital reserve fund to which s. 234.15 (4) applies would exceed $600,000,000 $1,300,000,000. This section does not apply to bonds and notes issued to refund outstanding notes and bonds.

AB50,2397 Section 2397. 234.18 (2) of the statutes is repealed.

AB50,2398 Section 2398. 234.18 (3) of the statutes is repealed.

AB50,2399 Section 2399. 234.29 of the statutes is amended to read:

AB50,1215,6 234.29 Equality of occupancy and employment. The authority shall require that occupancy of housing projects assisted under this chapter be open to all regardless of sex, race, religion, sexual orientation, status as a victim of domestic abuse, sexual assault, or stalking, as defined in s. 106.50 (1m) (u), or creed, and that contractors and subcontractors engaged in the construction of economic development or housing projects, shall provide an equal opportunity for employment, without discrimination as to sex, race, religion, sexual orientation, gender expression, as defined in s. 111.32 (7j), gender identity, as defined in s. 111.32 (7k), or creed.

AB50,2400 Section 2400. 234.29 of the statutes, as affected by 2025 Wisconsin Act .... (this act), is amended to read:

AB50,1215,17 234.29 Equality of occupancy and employment. The authority shall require that occupancy of housing projects assisted under this chapter be open to all regardless of sex, race, religion, sexual orientation, status as a holder or nonholder of a license under s. 343.03 (3r), status as a victim of domestic abuse, sexual assault, or stalking, as defined in s. 106.50 (1m) (u), or creed, and that contractors and subcontractors engaged in the construction of economic development or housing projects, shall provide an equal opportunity for employment, without discrimination as to sex, race, religion, sexual orientation, gender expression, as defined in s. 111.32 (7j), gender identity, as defined in s. 111.32 (7k), or creed.

AB50,2401 Section 2401. 234.45 (1) (e) of the statutes is amended to read:

AB50,1216,5 234.45 (1) (e) “Qualified development” means a qualified low-income housing project under section 42 (g) of the Internal Revenue Code that is financed with tax- exempt bonds, pursuant to section 42 (i) (2) described in section 42 (h) (4) (A) of the Internal Revenue Code, allocated the credit under section 42 of the Internal Revenue Code, and located in this state; except that the authority may waive, in the qualified allocation plan under section 42 (m) (1) (B) of the Internal Revenue Code, the requirements of tax-exempt bond financing and federal credit allocation to the extent the authority anticipates that sufficient volume cap under section 146 of the Internal Revenue Code will not be available to finance low-income housing projects in any year.

AB50,2402 Section 2402. 234.45 (4) of the statutes is amended to read:

AB50,1216,14 234.45 (4) Allocation limits. In any calendar year, the aggregate amount of all state tax credits for which the authority certifies persons in allocation certificates issued under sub. (3) in that year may not exceed $42,000,000 $100,000,000, including all amounts each person is eligible to claim for each year of the credit period, plus the total amount of all unallocated state tax credits from previous calendar years and plus the total amount of all previously allocated state tax credits that have been revoked or cancelled or otherwise recovered by the authority.

AB50,2403 Section 2403. 234.622 (4) (b) of the statutes is amended to read:

AB50,1216,17 234.622 (4) (b) A veteran, as defined in s. 45.01 (12) (a) to (f) (fm), who has been accepted into the program.

AB50,2404 Section 2404. 234.625 (4) (b) 9. of the statutes is amended to read:

AB50,1216,22 234.625 (4) (b) 9. If the participant is a veteran, as defined in s. 45.01 (12) (a) to (f) (fm), who is not 65 years of age or older, at a time before any of the events under subds. 1. to 7. occurs, as determined under policies and procedures established by the authority.

AB50,2405 Section 2405. 234.66 (1) (b) of the statutes is renumbered 234.66 (1) (b) (intro.) and amended to read:

AB50,1217,2 234.66 (1) (b) (intro.) “Developer” means a person other than a governmental unit that constructs or creates residential housing. and that is any of the following:

AB50,2406 Section 2406. 234.66 (1) (b) 1. of the statutes is created to read:

AB50,1217,4 234.66 (1) (b) 1. A person other than a governmental unit.

AB50,2407 Section 2407. 234.66 (1) (b) 2. of the statutes is created to read:

AB50,1217,6 234.66 (1) (b) 2. A tribal housing authority created by a tribal council.

AB50,2408 Section 2408. 234.66 (1) (cm) of the statutes is created to read:

AB50,1217,9 234.66 (1) (cm) “Governmental unit” means a city, village, town, county, or federally recognized American Indian tribe or band in this state.

AB50,2409 Section 2409. 234.66 (1) (e) 2. of the statutes is created to read:

AB50,1217,13 234.66 (1) (e) 2. The housing is not subject to taxation under ch. 70 because it is designated as reservation lands, as defined in s. 165.92 (1) (a), or as trust lands, as defined in s. 165.92 (1) (d).

AB50,2410 Section 2410. 234.66 (1) (g) (intro.) and 1. of the statutes are consolidated, renumbered 234.66 (1) (g) and amended to read:

AB50,1217,20 234.66 (1) (g) “Residential housing” means new single-family or multifamily housing for rent or sale that satisfies all of the following: 1. Is is subject to taxation under ch. 70 or is not subject to taxation under ch. 70 because it is designated as reservation lands, as defined in s. 165.92 (1) (a), or trust lands, as defined in s. 165.92 (1) (d).

AB50,2411 Section 2411. 234.66 (1) (g) 2. of the statutes is repealed.

AB50,2412 Section 2412. 234.66 (1) (g) 3. of the statutes is repealed.

AB50,2413 Section 2413. 234.66 (4) (a) 5. of the statutes is amended to read:

AB50,1218,14 234.66 (4) (a) 5. The eligible governmental unit has reduced the cost of residential housing in connection with the eligible project by voluntarily revising zoning ordinances, subdivision regulations, or other land development regulations to increase development density, expedite approvals, reduce impact, water connection, and inspection fees, or reduce parking, building, or other development costs with respect to the development of residential housing supported by the project. For purposes of this subdivision, the governmental unit in cooperation with the developer shall submit to the authority a cost reduction analysis in a form prescribed by the authority and signed by the developer and the head of the governmental unit’s governing body that shows the cost reduction measures, including time saving measures, undertaken by the governmental unit on or after January 1, 2023 2015, that have reduced the cost of residential housing in connection with the eligible project. The signed analysis shall clearly show for each time saving or cost reduction measure the estimated time or dollar amount saved by the developer and the estimated percentage reduction in housing costs.

AB50,2414 Section 2414. 234.66 (4) (a) 7. of the statutes is repealed.

AB50,2415 Section 2415. 234.66 (4) (c) 2. of the statutes is amended to read:

AB50,1218,19 234.66 (4) (c) 2. No loan awarded under this subsection may exceed 20 33 percent of the total cost of development, including land purchase, of the residential housing supported by the eligible project.

AB50,2416 Section 2416. 234.66 (4) (cm) of the statutes is created to read:

AB50,1218,24 234.66 (4) (cm) The developer may use up to 25 percent of loan moneys for private infrastructure that is not and will not be owned, maintained, or provided to or by a governmental unit and is not in a rural area and transferred to public use but that otherwise meets the definition of housing infrastructure under sub. (1) (e).

AB50,2417 Section 2417. 234.66 (5) (c) of the statutes is amended to read:

AB50,1219,4 234.66 (5) (c) No loan awarded under this subsection may exceed 10 25 percent of the amount of the total cost of development of the residential housing supported by the eligible project.

AB50,2418 Section 2418. 234.661 (1) (b) of the statutes is amended to read:

AB50,1219,8 234.661 (1) (b) “Eligible political subdivision” governmental unit” means the city, village, town, or county governmental unit having jurisdiction over an eligible project, as determined by the authority.

AB50,2419 Section 2419. 234.661 (1) (c) 5. of the statutes is repealed.

AB50,2420 Section 2420. 234.661 (1) (c) 6. of the statutes is repealed.

AB50,2421 Section 2421. 234.661 (1) (e) of the statutes is renumbered 234.661 (1) (e) (intro.) and amended to read:

AB50,1219,15 234.661 (1) (e) (intro.) “Rental housing” means single-family or multifamily housing offered or intended to be offered for rent that to which any of the following applies:

AB50,1219,16 1. The housing is subject to taxation under ch. 70.

AB50,2422 Section 2422. 234.661 (3) (b) (intro.) of the statutes is amended to read:

AB50,1220,2 234.661 (3) (b) (intro.) From the main street housing rehabilitation revolving loan fund, the authority may award loans to owners of rental housing to cover housing rehabilitation costs for an eligible project. Any owner of rental housing, other than a city, village, town, or county governmental unit, may apply to the authority for a loan in accordance with the application process established by the authority under par. (c), but the authority may not award the loan unless the owner of the rental housing and eligible political subdivision governmental unit demonstrate to the satisfaction of the authority in one or more forms prescribed by the authority that all of the following apply:

AB50,2423 Section 2423. 234.661 (3) (b) 3. of the statutes is amended to read:

AB50,1220,18 234.661 (3) (b) 3. The eligible political subdivision governmental unit has reduced the cost of rental housing in connection with the eligible project by voluntarily revising zoning ordinances, subdivision regulations, or other land development regulations to increase development density, expedite approvals, reduce impact fees, or reduce parking, building, or other development costs with respect to the eligible project. For purposes of this subdivision, the political subdivision governmental unit in cooperation with the owner shall submit to the authority a cost reduction analysis in a form prescribed by the authority and signed by the owner and the head of the political subdivision’s governmental unit’s governing body that shows the cost reduction measures, including time saving measures, undertaken by the political subdivision governmental unit on or after January 1, 2023 2015, that have reduced the cost of rental housing in connection with the eligible project. The signed analysis shall clearly show for each time saving or cost reduction measure the estimated time or dollar amount saved by the owner and the estimated percentage reduction in rental housing costs.

AB50,2424 Section 2424. 234.661 (3) (b) 4. of the statutes is amended to read:

AB50,1220,22 234.661 (3) (b) 4. The eligible political subdivision governmental unit is in compliance with the requirements under ss. 66.1001, 66.10013, and 66.10014, to the extent those requirements apply to the political subdivision governmental unit.

AB50,2425 Section 2425. 234.661 (3) (b) 5. of the statutes is repealed.

AB50,2426 Section 2426. 234.661 (3) (c) of the statutes is amended to read:

AB50,1221,8 234.661 (3) (c) The authority shall establish a semiannual application process for the award of loans under this subsection. If in any application cycle there are insufficient moneys available in the main street housing rehabilitation revolving loan fund to fund all applications that meet the requirements under par. (b) and are otherwise acceptable to the authority, the authority shall prioritize funding loans for eligible projects in eligible political subdivisions governmental unit that have reduced the cost of rental housing as described in par. (b) 3. but with respect to the political subdivision governmental unit as a whole.

AB50,2427 Section 2427. 234.661 (3) (d) of the statutes is amended to read:

AB50,1221,14 234.661 (3) (d) No loan awarded under this subsection may exceed $20,000 $50,000 per dwelling unit or 25 33 percent of the total housing rehabilitation project costs, whichever is less, and the authority may establish an interest rate for any loan awarded under this subsection at or below the market interest rate or may charge no interest.

AB50,2428 Section 2428. 234.661 (5) (b) 4. of the statutes is amended to read:

AB50,1221,17 234.661 (5) (b) 4. An identification of the eligible political subdivision governmental unit with respect to which the loan was awarded.

AB50,2429 Section 2429. 234.662 (1) (c) of the statutes is renumbered 234.662 (1) (c) (intro.) and amended to read:

AB50,1221,22 234.662 (1) (c) (intro.) “Developer” means a person other than a city, village, town, or county, that converts a vacant commercial building to residential use. and that is any of the following:

AB50,2430 Section 2430. 234.662 (1) (c) 1. of the statutes is created to read:

AB50,1221,24 234.662 (1) (c) 1. A person other than a city, village, town, or county.

AB50,2431 Section 2431. 234.662 (1) (c) 2. of the statutes is created to read:

AB50,1222,2 234.662 (1) (c) 2. A tribal housing authority created by a tribal council.

AB50,2432 Section 2432. 234.662 (1) (d) of the statutes is amended to read:

AB50,1222,6 234.662 (1) (d) “Eligible political subdivision” governmental unit” means the city, village, town, or county governmental unit having jurisdiction over an eligible project, as determined by the authority.

AB50,2433 Section 2433. 234.662 (1) (e) 3. of the statutes is repealed.

AB50,2434 Section 2434. 234.662 (1) (e) 4. of the statutes is repealed.

AB50,2435 Section 2435. 234.662 (1) (em) of the statutes is created to read:

AB50,1222,11 234.662 (1) (em) “Governmental unit” means a city, village, town, county, or federally recognized American Indian tribe or band in this state.

AB50,2436 Section 2436. 234.662 (1) (f) of the statutes is renumbered 234.662 (1) (f) (intro.) and amended to read:

AB50,1222,15 234.662 (1) (f) (intro.) “Residential housing” means single-family or multifamily housing for rent or sale that to which any of the following applies:

AB50,1222,16 1. The housing is subject to taxation under ch. 70.

AB50,2437 Section 2437. 234.662 (1) (f) 2. of the statutes is created to read:

AB50,1222,20 234.662 (1) (f) 2. The housing is not subject to taxation under ch. 70 because it is designated as reservation lands, as defined in s. 165.92 (1) (a), or trust lands, as defined in s. 165.92 (1) (d).

AB50,2438 Section 2438. 234.662 (1) (g) of the statutes is amended to read: