Assembly Bill 194 proposes significant modifications to three housing programs administered 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 regionally to ensure equitable distribution across the state, with no region receiving more than 12.5% of the total appropriated funds during the 2023-25 fiscal biennium.

Additionally, the bill introduces new eligibility criteria and requirements for loan applications. It allows projects to benefit from tax incremental districts and historic tax credits, and it modifies the conditions under which governmental units can demonstrate cost reductions in housing. Notably, the bill replaces personal guarantees with corporate guarantees for securing loans and expands the definition of eligible developers to include tribal entities. The bill also repeals certain existing provisions and consolidates others to streamline the application process and enhance the effectiveness of the 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