Assembly Bill 194 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 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, such as allowing loans to be secured by corporate guarantees instead of personal guarantees, and permitting the use of tax incremental districts and historic tax credits for eligible projects. It also emphasizes the need for governmental units to demonstrate a reduction in housing costs and to update their comprehensive plans to meet housing demand. The bill 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