Senate Bill 180 proposes significant modifications to three housing programs managed by the Wisconsin Housing and Economic Development Authority (WHEDA): the Infrastructure Access Program, the Restore Main Street Program, and the Vacancy-to-Vitality Program. Key changes include increasing the maximum loan amounts for developers and governmental units, allowing tribal housing authorities to receive loans, and permitting projects on tribal lands. The bill also mandates that WHEDA allocate funds in a way that no region receives more than 12.5% of the total appropriated amount during the 2023-25 fiscal biennium. Additionally, it allows for the use of tax incremental districts and historic tax credits for eligible projects, which were previously prohibited.

The bill includes several amendments to existing statutes, such as increasing the percentage of total project costs that can be covered by loans, from 20% to 33% for developers and from 10% to 25% for governmental units. It also introduces new requirements for governmental units to demonstrate cost reductions in housing and allows for loans to be secured by corporate guarantees instead of solely personal guarantees. Furthermore, the bill repeals certain provisions and consolidates others to streamline the application process and eligibility criteria for these housing programs.

Statutes affected:
Bill Text: 234.66(1)(g)2, 234.66, 234.66(1)(g)3, 234.66(4)(a)7, 234.66(4)(c)2, 234.66(5)(c), 234.66(5m)(b), 234.661(1)(b), 234.661, 234.661(1)(c)5, 234.661(1)(c)6