AB43,,69616961234.45 (1) (c) “Credit period” means the period of 6 10 taxable years beginning with the taxable year in which a qualified development is placed in service. For purposes of this paragraph, if a qualified development consists of more than one building, the qualified development is placed in service in the taxable year in which the last building of the qualified development is placed in service.

AB43,,69636963234.45 (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.

AB43,,69656965234.45 (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credits from previous calendar years and plus the total amount of all previously allocated state tax credits that have been revoked or cancelled or otherwise recovered by the authority.

AB43,,69676967234.53 (2) Except as provided in sub. (2m) and s. 234.045, the authority shall use moneys in the fund for the purpose of purchasing housing rehabilitation loans or for funding commitments for loans to lenders for housing rehabilitation loans. All disbursements of funds under this subsection for purchasing such loans shall be made payable to an authorized lender, as defined in s. 234.49 (1) (b), or a duly authorized agent thereof.

AB43,,69696969234.55 (1) The authority shall establish the housing rehabilitation loan program bond redemption fund. All housing rehabilitation loans purchased with moneys from the housing rehabilitation loan fund or notes evidencing loans to lenders from such fund for housing rehabilitation loans shall be the exclusive property of such redemption fund. All moneys received from the repayment of such loans, any amounts transferred by the authority to such fund pursuant to s. 234.52 or from other funds or sources, any federal insurance or guarantee payments with respect to such loans, all moneys resulting from the sale of bonds for the purpose of refunding outstanding housing rehabilitation bonds unless credited to the housing rehabilitation loan program capital reserve fund, any other moneys which may be available to the authority for the purpose of such fund, and all moneys received from the repayment of loans provided under ss. 234.045 and s. 234.53 (2m) shall be deposited into such fund to be used for the repayment of housing rehabilitation bonds issued under the authority of s. 234.50.

AB43,,69716971238.03 (4) (b) The board shall establish policies and procedures for maintaining and expending any unassigned balance that satisfy all of the following requirements:.

AB43,,69736973238.03 (4) (bm) The policies and procedures established under par. (b) shall be consistent with best practices recommended by the Government Finance Officers Association.

AB43,,69766976238.129 Main street bounceback grants. (1) Grants. From the appropriation under s. 20.192 (1) (br), the corporation may award grants to provide assistance to businesses opening a new location or expanding operations in a vacant commercial space.

AB43,,69776977(2) Eligibility. (a) Subject to par. (b), the corporation shall establish eligibility requirements and other policies and procedures for the grants awarded under sub. (1) that are substantially similar to the eligibility requirements and policies and procedures in effect on June 30, 2023, for the Wisconsin Tomorrow Main Street Bounceback Grant program administered by the corporation.

AB43,,69786978(b) The corporation may not award a grant under this section to a nonprofit organization.

AB43,,69806980238.145 Venture capital fund of funds program. (1) Definitions. In this section:

AB43,,69816981(a) “Fund of funds program” means the program established under sub. (2).

AB43,,69826982(b) “Investment manager” means the person with whom the oversight board enters into a contract under sub. (4).

AB43,,69836983(c) “Oversight board” means the oversight board created under sub. (2) (c).

AB43,,69846984(2) Establishment of program. The corporation shall establish and administer a venture capital fund of funds program to invest moneys in venture capital funds that invest in businesses located in this state, subject to the requirements of this section. In establishing the program, the corporation shall do all of the following: