AB906,19,3 (3) Certification. The authority may certify a person to claim a state tax credit by issuing the person an allocation certificate for the qualified housing development. The allocation certificate shall state the amount the authority determines the person is eligible to claim for each year of the credit period, the name and address of the person, the person's Wisconsin tax identification number, and any other information required by the authority or department of revenue. The authority shall provide a copy of the allocation certificate to the department of revenue. The authority shall issue allocation certificates annually, on a rolling basis, based on eligibility, as determined by the authority, except that the authority may develop a competitive process to award allocation certificates as a part of its qualified allocation plan under sub. (4). The authority may issue an allocation certificate under this subsection only if all of the following conditions are satisfied:

AB906,19,5 (a) The allocation certificate is issued to a person who has an ownership interest in the qualified housing development.

AB906,19,7 (b) The state tax credit is necessary for the financial feasibility of the qualified housing development.

AB906,19,13 (c) The qualified housing development is the subject of a recorded restrictive covenant requiring that, for the compliance period or for a longer period agreed to by the authority and the owner of the qualified housing development, the development shall be maintained and operated as a qualified housing development and shall be in compliance with Title VIII of the federal Civil Rights Act of 1968, as amended.

AB906,19,15 (d) The allocation certificate is issued in accordance with the authority's qualified allocation plan under sub. (4).

AB906,19,25 (4) Allocation plan. The authority shall develop a qualified allocation plan that sets forth selection criteria to determine housing priorities for individuals whose income is at least 61 percent but not more 100 percent of area median gross income. The housing priorities shall be appropriate for local conditions. The selection criteria shall include project location, housing needs characteristics, project characteristics, sponsor characteristics, tenant populations with special housing needs, tenant populations of individuals with children, projects intended for eventual tenant ownership, the energy efficiency of the project, and the historic nature of the project. The plan shall include procedures to monitor noncompliance with this section and with habitability standards.

AB906,20,7 (5) 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, 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.

AB906,20,10 (6) Preference for smaller municipalities. In issuing allocation certificates under sub. (3), the authority shall give preference to qualified housing developments located in a city, village, or town with a population of fewer than 150,000.

AB906,20,12 (7) Report. No later than December 31 of each year, the authority shall submit a report to the legislature under s. 13.172 (2) that includes all of the following:

AB906,20,18 (a) A description of each qualified housing development for which the authority issued an allocation certificate that year, including the development's geographic location, the household type and any specific demographic information available concerning the residents intended to be served by the development, the income levels of residents intended to be served by the development, and the rents or set-asides authorized for the development.

AB906,20,23 (b) An analysis of housing market and demographic information that shows how the qualified housing developments for which the authority has issued allocation certificates at any time are addressing the need for affordable housing within the communities the developments are intended to serve and an analysis of remaining disparities in the affordability of housing within those communities.

AB906,21,3 (8) Policies and procedures. The authority, in consultation with the department of revenue, shall establish policies and procedures to administer this section.

AB906,21,4 (End)