Wisconsin 2023-2024 Regular Session

Wisconsin Senate Bill SB293 Compare Versions

Only one version of the bill is available at this time.

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3	3	2023 - 2024 LEGISLATURE
4	4	2023 SENATE BILL 293
5	5	May 15, 2023 - Introduced by Senators QUINN, JACQUE, CABRAL-GUEVARA and
6	6	JAGLER, cosponsored by Representatives ARMSTRONG, O'CONNOR, BROOKS,
7	7	EMERSON, STEFFEN, C. ANDERSON, DOYLE, DUCHOW, EDMING, GREEN, JOERS,
8	8	MURPHY, ORTIZ-VELEZ, PENTERMAN, PETRYK, PLUMER, ROZAR, SCHRAA,
9	9	SHANKLAND, SINICKI, SNYDER, SWEARINGEN and WICHGERS. Referred to
10	10	Committee on Housing, Rural Issues and Forestry.
11	11	AN ACT to create 234.66 of the statutes; relating to: residential housing
12	12	infrastructure revolving loan fund and revolving loan program.
13	13	Analysis by the Legislative Reference Bureau
14	14	This bill establishes a residential housing infrastructure revolving loan fund
15	15	under the jurisdiction and control of the Wisconsin Housing and Economic
16	16	Development Authority. The purpose of the fund is for WHEDA to award revolving
17	17	loans as provided in the bill to residential housing developers for eligible housing
18	18	infrastructure projects supporting workforce and senior housing. The bill requires
19	19	WHEDA, for a period of four years, to set aside 25 percent of any moneys
20	20	appropriated to the fund in the 2023-25 fiscal biennium for housing infrastructure
21	21	projects supporting senior housing.
22	22	The bill includes definitions of both workforce housing and senior housing.
23	23	Workforce housing is defined for both rental and owner-occupied housing based on
24	24	the ratio of housing costs and the ratio of household income to the area median
25	25	income of the county in which the housing is located, adjusted for family size, as
26	26	published annually by the federal Department of Housing and Urban Development.
27	27	Under the bill, senior housing is housing that satisfies the definition of workforce
28	28	housing but is intended and operated primarily for occupancy by at least one person
29	29	55 years of age or older per dwelling unit.
30	30	In accordance with a semiannual application process established by WHEDA,
31	31	a residential housing developer may apply to WHEDA for a loan under the program,
32	32	but WHEDA may not award the loan unless the developer and the city, village, town,
33	33	or county or federally recognized American Indian tribe or band having jurisdiction
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37	37	SENATE BILL 293
38	38	of the housing infrastructure project (“eligible governmental unit”) demonstrate to
39	39	the satisfaction of WHEDA in one or more forms prescribed by WHEDA that all of
40	40	the following apply:
41	41	1. The developer has secured the necessary financial resources for the total cost
42	42	of development of the residential housing supported by the eligible project.
43	43	2. The developer has secured all applicable federal, state, and local government
44	44	permits or other approvals for the eligible project and the residential housing
45	45	supported by the eligible project.
46	46	3. The eligible governmental unit has approved the developer's application for
47	47	the loan.
48	48	4. Any applicable sewer or water service area plan has been amended if
49	49	necessary.
50	50	5. The eligible governmental unit has reduced the cost of residential housing
51	51	in connection with the specific housing infrastructure project to be funded by the loan
52	52	by voluntarily revising zoning ordinances, subdivision regulations, or other land
53	53	development regulations to increase development density, expedite approvals,
54	54	reduce impact fees, or reduce parking, building, or other development costs with
55	55	respect to the construction of residential housing supported by the project.
56	56	6. To the extent applicable, the eligible governmental unit is in compliance with
57	57	certain statutory housing planning and reporting requirements.
58	58	7. If applicable, the eligible governmental unit has updated the housing
59	59	element of its comprehensive plan required by statute within the immediately
60	60	preceding five years.
61	61	If in any application cycle there are insufficient moneys available in the
62	62	residential housing infrastructure revolving loan fund to fund all applications that
63	63	meet the requirements of the bill and are otherwise acceptable to WHEDA, WHEDA
64	64	is required to prioritize funding loans for eligible projects in eligible governmental
65	65	units that have reduced the cost of residential housing as described in item 5 above
66	66	with respect to the governmental unit as a whole. The bill also authorizes WHEDA
67	67	to award loans to eligible governmental units accompanying a developer loan to
68	68	assist the governmental unit in covering additional infrastructure costs incurred by
69	69	the governmental unit in connection with a developer loan where such costs are not
70	70	directly related to the eligible project itself.
71	71	The bill prohibits WHEDA from charging any interest on any loan awarded
72	72	under the bill. Under the bill, no loan awarded to a developer may exceed 20 percent
73	73	of the total cost of development, including land purchase, of the residential housing
74	74	supported by the eligible project, and the bill limits loans to eligible governmental
75	75	units to no more than 10 percent of the amount of the loan awarded to the developer.
76	76	The bill requires that WHEDA enter into an agreement with each developer
77	77	receiving a loan under the bill that establishes the term and other conditions of the
78	78	loan. The agreement is required to include certain provisions, some of which are to
79	79	be recorded with the applicable register of deeds and to run with the land, that are
80	80	designed to ensure that the residential housing constructed in connection with a loan
81	81	remains workforce or senior housing for at least 10 years, whether rental or
82	82	owner-occupied, that require owner-occupied residential housing constructed in - 3 -2023 - 2024 Legislature
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86	86	connection with a loan to remain owner-occupied for at least 10 years, and that limit
87	87	for a 10-year period the sales price of such owner-occupied residential housing,
88	88	adjusted annually by the average compounded annual percentage increase in the
89	89	sale price of all residential housing in the county in which the housing is located, as
90	90	determined by WHEDA.
91	91	In addition to the requirement described above that WHEDA set aside for
92	92	senior housing 25 percent of any moneys appropriated to the fund in the 2023-25
93	93	fiscal biennium, the bill includes other requirements relative to WHEDA 's
94	94	distribution of such moneys, including the following:
95	95	1. WHEDA must, for a period of four years, set aside 30 percent of such moneys
96	96	for housing infrastructure projects in cities, villages, and towns with a population of
97	97	10,000 or less.
98	98	2. WHEDA must divide the state into regions based on the service jurisdiction
99	99	of each regional planning commission constituted under current law, with the
100	100	counties not served by a regional planning commission constituting collectively one
101	101	region. Under the bill, no such region may receive more than 25 percent of such
102	102	moneys in loans in any given application cycle.
103	103	Finally, the bill requires that WHEDA take actions to market the availability
104	104	of loans under the bill and to submit annual reports to the Joint Committee on
105	105	Finance and legislative committees having jurisdiction over housing relating to the
106	106	loan program and the residential housing infrastructure revolving loan fund created
107	107	under the bill.
108	108	Because this bill may increase or decrease, directly or indirectly, the cost of the
109	109	development, construction, financing, purchasing, sale, ownership, or availability of
110	110	housing in this state, the Department of Administration, as required by law, will
111	111	prepare a report to be printed as an appendix to this bill.
112	112	For further information see the state fiscal estimate, which will be printed as
113	113	an appendix to this bill.
114	114	The people of the state of Wisconsin, represented in senate and assembly, do
115	115	enact as follows:
116	116	SECTION 1. 234.66 of the statutes is created to read:
117	117	234.66 Residential housing infrastructure revolving loan fund and
118	118	program. (1) DEFINITIONS. In this section:
119	119	(a) “Area median income" means the area median family income in the county
120	120	in which the housing is located, adjusted for family size, as published annually by
121	121	the federal department of housing and urban development.
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130	130	(b) “Developer” means a person other than a city, village, town, or county or
131	131	federally recognized American Indian tribe or band in this state that constructs or
132	132	creates residential housing.
133	133	(c) “Eligible governmental unit” means the governmental unit having
134	134	jurisdiction of an eligible project, as determined by the authority.
135	135	(d) “Eligible project” means a project for housing infrastructure for workforce
136	136	housing or senior housing.
137	137	(e) “Governmental unit” means a city, village, town, or county or federally
138	138	recognized American Indian tribe or band in this state.
139	139	(e) “Housing infrastructure” means that portion of the installation,
140	140	replacement, upgrade, or improvement of public infrastructure, or private
141	141	infrastructure in rural areas if transferred to public use, as determined by the
142	142	authority, that relates to an eligible project.
143	143	(f) “Public infrastructure” means any of the following that is or will be owned,
144	144	maintained, or provided to or by a governmental unit:
145	145	1. A water distribution system.
146	146	2. A water treatment plant.
147	147	3. A wastewater treatment plant.
148	148	4. A sanitary sewer system.
149	149	5. A storm sewer system.
150	150	6. A stormwater retention pond.
151	151	7. A lift or pump station.
152	152	8. A street, road, alley, or bridge.
153	153	9. A curb, gutter, or sidewalk.
154	154	10. A traffic device.
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182	182	SECTION 1
183	183	SENATE BILL 293
184	184	11. A street light.
185	185	12. An electric or gas distribution line.
186	186	(g) “Residential housing” means new single-family or multifamily housing for
187	187	rent or sale that is subject to taxation under ch. 70.
188	188	(h) “Senior housing” means residential housing that satisfies par. (i) 1. to 4. and
189	189	that is intended and operated primarily for occupancy by at least one person 55 years
190	190	of age or older per dwelling unit, as determined by the authority.
191	191	(i) “Workforce housing” means residential housing that satisfies all of the
192	192	following, as determined by the authority.
193	193	1. For housing intended to be rented, the estimated annual housing costs, as
194	194	defined under s. 16.301 (3), do not exceed, or are not expected to exceed, 30 percent
195	195	of 100 percent of the area median income, with family size determined using the
196	196	federal imputed income limitation, as defined in 26 USC 42 (g) (2) (C), and the
197	197	utility-related costs if not included in the rent equal the utility allowance
198	198	determined by the federal department of housing and urban development.
199	199	2. For housing intended to be occupied by the owner, the estimated annual
200	200	housing costs, as defined under s. 16.301 (3), do not exceed, or are not expected to
201	201	exceed, 30 percent of 140 percent of the area median income, with family size
202	202	determined using the federal imputed income limitation, as defined in 26 USC 42 (g)
203	203	(2) (C).
204	204	3. For housing intended to be rented, the housing is for occupancy by
205	205	individuals whose annual household income does not exceed 100 percent of the area
206	206	median income.
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231	231	SECTION 1 SENATE BILL 293
232	232	4. For housing intended to be occupied by the owner, the housing is for purchase
233	233	by individuals whose annual household income is not more than 140 percent of the
234	234	area median income.
235	235	(2) ESTABLISHMENT OF FUND. (a) There is established under the jurisdiction and
236	236	control of the authority a residential housing infrastructure revolving loan fund, for
237	237	the purpose of providing loans under sub. (3). The authority may use moneys in the
238	238	fund to cover actual and necessary expenses incurred to accomplish the purposes of
239	239	this section, including marketing expenses under sub. (6), and administer the fund.
240	240	The fund shall consist of all of the following:
241	241	1. All moneys appropriated to the authority for the fund.
242	242	2. All moneys received from the repayment of loans under sub. (3).
243	243	(b) Of the amounts deposited in the fund under par. (a) 1. in the 2023-25 fiscal
244	244	biennium, the authority shall return to the secretary of administration for deposit
245	245	in the general fund all such amounts not encumbered or expended for an eligible
246	246	project as of the first day of the 8th year beginning after the effective date of this
247	247	paragraph .... [LRB inserts date].
248	248	(c) No moneys in the fund may be invested under s. 234.03 (18).
249	249	(3) ESTABLISHMENT OF REVOLVING LOAN PROGRAM. The authority shall establish
250	250	and administer a residential housing infrastructure revolving loan program for the
251	251	purpose of awarding loans under this section.
252	252	(4) LOANS TO RESIDENTIAL HOUSING DEVELOPERS. (a) From the residential
253	253	housing infrastructure revolving loan fund, the authority may award loans to
254	254	developers to cover housing infrastructure costs for an eligible project. Any
255	255	developer may apply to the authority for a loan under this subsection in accordance
256	256	with the application process established by the authority under par. (b), but the
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284	284	SECTION 1
285	285	SENATE BILL 293
286	286	authority may not award the loan unless the developer and the eligible governmental
287	287	unit demonstrate to the satisfaction of the authority in one or more forms prescribed
288	288	by the authority that all of the following apply:
289	289	1. The developer has secured the necessary financial resources for the total cost
290	290	of development of the residential housing supported by the eligible project.
291	291	2. The developer has secured all applicable federal, state, and local government
292	292	permits or other approvals for the eligible project and the residential housing
293	293	supported by the eligible project.
294	294	3. The eligible governmental unit has approved the developer's application for
295	295	the loan.
296	296	4. Any applicable sewer or water service area plan has been amended if
297	297	necessary.
298	298	5. The eligible governmental unit has reduced the cost of residential housing
299	299	in connection with the eligible project by voluntarily revising zoning ordinances,
300	300	subdivision regulations, or other land development regulations to increase
301	301	development density, expedite approvals, reduce impact, water connection, and
302	302	inspection fees, or reduce parking, building, or other development costs with respect
303	303	to the development of residential housing supported by the project. For purposes of
304	304	this subdivision, the governmental unit in cooperation with the developer shall
305	305	submit to the authority a cost reduction analysis in a form prescribed by the
306	306	authority and signed by the developer and the head of the governmental unit's
307	307	governing body that shows the cost reduction measures, including time saving
308	308	measures, undertaken by the governmental unit on or after January 1, 2023, that
309	309	have reduced the cost of residential housing in connection with the eligible project.
310	310	The signed analysis shall clearly show for each time saving or cost reduction measure
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337	337	SECTION 1 SENATE BILL 293
338	338	the estimated time or dollar amount saved by the developer and the estimated
339	339	percentage reduction in housing costs.
340	340	6. The eligible governmental unit is in compliance with the requirements under
341	341	ss. 66.1001, 66.10013, and 66.10014, to the extent those requirements apply to the
342	342	governmental unit.
343	343	7. If applicable, the eligible governmental unit has updated the housing
344	344	element of its comprehensive plan under s. 66.1001 (2) (b) within the 5 years
345	345	immediately preceding the date of the loan application.
346	346	(b) The authority shall establish and provide a semiannual application process,
347	347	including underwriting guidelines, for the award of loans under this subsection. If
348	348	in any application cycle there are insufficient moneys available in the residential
349	349	housing infrastructure revolving loan fund to fund all applications that meet the
350	350	requirements under par. (a) and are otherwise acceptable to the authority, the
351	351	authority shall prioritize funding loans for eligible projects in eligible governmental
352	352	units that have reduced the cost of residential housing as described in par. (a) 5. but
353	353	with respect to the governmental unit as a whole.
354	354	(c) 1. The authority shall charge no interest on a loan awarded under this
355	355	subsection.
356	356	2. No loan awarded under this subsection may exceed 20 percent of the total
357	357	cost of development, including land purchase, of the residential housing supported
358	358	by the eligible project.
359	359	(d) The authority shall set aside 25 percent of all moneys deposited in the fund
360	360	under sub. (2) (a) 1. in the 2023-25 fiscal biennium for a period of not less than 4 years
361	361	following the effective date of this paragraph .... [LRB inserts date], for loans
362	362	awarded under this subsection and sub. (5) for eligible projects supporting senior
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390	390	SECTION 1
391	391	SENATE BILL 293
392	392	housing. For purposes of this paragraph, if a loan supports both workforce housing
393	393	and senior housing, the amount of such loan supporting senior housing shall be
394	394	calculated by prorating the loan amount between the 2 uses based on the number of
395	395	residential housing units supported by the loan.
396	396	(e) The authority shall set aside 30 percent of all moneys deposited in the fund
397	397	under sub. (2) (a) 1. in the 2023-25 fiscal biennium, including 30 percent of all
398	398	moneys set aside under par. (d), for a period of not less than 4 years following the
399	399	effective date of this paragraph .... [LRB inserts date], for loans awarded under this
400	400	subsection and sub. (5) for eligible projects in cities, villages, and towns with a
401	401	population of 10,000 or less. For purposes of this paragraph, if a single loan supports
402	402	eligible projects for more than one city, village, or town, the amount of such loan
403	403	attributable to any one city, village, or town shall be calculated by prorating the loan
404	404	amount between the cities, villages, and towns based on the number of residential
405	405	housing units supported by the loan.
406	406	(f) The authority shall divide the state into regions based on the service
407	407	jurisdiction as of the effective date of this paragraph .... [LRB inserts date], of each
408	408	regional planning commission constituted under s. 66.0309, with the counties not
409	409	served by a regional planning commission as of that date constituting collectively one
410	410	region. Of all moneys deposited in the fund under sub. (2) (a) 1. in the 2023-25 fiscal
411	411	biennium, no region may receive more than 25 percent in loans awarded under this
412	412	subsection and sub. (5) in any given application cycle.
413	413	(g) 1. The authority and each developer receiving a loan under this subsection
414	414	shall enter into an agreement establishing the term and other conditions of the loan.
415	415	The agreement shall include, and give the authority the power to enforce, all of the
416	416	following requirements:
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443	443	SECTION 1 SENATE BILL 293
444	444	a. That the full amount of the loan shall become due upon the developer's sale
445	445	or transfer of all residential housing constructed in connection with the loan.
446	446	b. That all residential housing constructed in connection with the loan shall
447	447	remain workforce housing or senior housing, as applicable, for a period commencing
448	448	on the date of the loan and concluding 10 years following initial occupancy of the
449	449	residential housing constructed in connection with the loan. This restriction shall
450	450	be recorded against the residential property with the applicable register of deeds and
451	451	shall run with the land.
452	452	c. With respect to each loan under this subsection for workforce housing or
453	453	senior housing intended for rent, that the owner of the rental housing, for a period
454	454	commencing on the date of the loan and concluding 10 years following initial
455	455	occupancy of all of the rental units constructed in connection with the loan, shall
456	456	annually submit to the authority a certified rent roll for the housing that sets forth
457	457	for each rental unit the monthly rent required under the lease, the actual monthly
458	458	rent received for the preceding year, and an identification of the utilities and their
459	459	amounts included in the rent. This restriction shall be recorded against the
460	460	residential property with the applicable register of deeds and shall run with the land.
461	461	The authority shall use the information provided under this subd. 1. c. to confirm
462	462	that the rental housing continues to meet the housing costs limitation for purposes
463	463	of sub. (1) (h) and (i) 1. The authority shall calculate the applicable monthly
464	464	limitation on housing costs for each year by dividing the area median income for the
465	465	year by 12, with family size determined using the federal imputed income limitation,
466	466	as defined in 26 USC 42 (g) (2) (C). If in any year the area median income has
467	467	decreased compared to the prior year, the applicable housing cost limitation shall be
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494	494	SECTION 1
495	495	SENATE BILL 293
496	496	calculated based on the most recent area median income information prior to such
497	497	decrease.
498	498	d. With respect to each loan under this subsection for workforce housing or
499	499	senior housing intended to be owner-occupied, that for the 10-year period
500	500	commencing immediately after the developer closes on the sale of the housing to the
501	501	initial owner-occupier, the housing shall remain owner-occupied and may not be
502	502	sold for a price that exceeds the price charged by the developer to the initial
503	503	owner-occupier, adjusted annually by the average compounded annual percentage
504	504	increase in the sale price of all residential housing in the county in which the housing
505	505	is located, as determined by the authority. These restrictions shall be recorded
506	506	against the residential property with the applicable register of deeds and shall run
507	507	with the land.
508	508	2. Any restriction recorded against the property under subd. 1. shall terminate
509	509	on the date the property is acquired by foreclosure, or by an instrument in lieu of
510	510	foreclosure, unless the authority determines that the acquisition is part of an
511	511	arrangement a purpose of which is to terminate the restriction.
512	512	(h) In addition to other criteria explicitly provided for under this subsection,
513	513	in awarding each loan under this subsection, the authority shall take into account
514	514	only the following in descending order of priority:
515	515	1. Credit risk, collateral, and the need for a loan guarantee.
516	516	2. The estimated reduction in housing costs.
517	517	3. The need for workforce housing or senior housing in the area.
518	518	(5) LOANS TO GOVERNMENTAL UNITS. (a) If the authority awards a loan to a
519	519	developer for an eligible project under sub. (4), the authority may award a loan from
520	520	the residential housing infrastructure revolving loan fund to the eligible
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546	546	MPG:cjs
547	547	SECTION 1 SENATE BILL 293
548	548	governmental unit approving the developer's loan. The authority and each
549	549	governmental unit receiving a loan under this subsection shall enter into an
550	550	agreement establishing the term and other conditions of the loan. The eligible
551	551	governmental unit may use proceeds of a loan awarded under this subsection to cover
552	552	public infrastructure costs incurred by the governmental unit in connection with the
553	553	eligible project that are not directly related to the eligible project itself.
554	554	(b) The authority shall charge no interest on a loan awarded under this
555	555	subsection.
556	556	(c) No loan awarded under this subsection may exceed 10 percent of the amount
557	557	of the loan awarded to the developer under sub. (4).
558	558	(6) MARKETING. The authority shall establish and administer a marketing
559	559	program to advertise the loans available under this section.
560	560	(7) ANNUAL REPORTS. Beginning in 2024, no later than August 1 of each year,
561	561	the authority shall submit to the joint committee on finance and under s. 13.172 (3)
562	562	to the standing committees of the legislature having jurisdiction over matters
563	563	related to housing a report that includes all of the following:
564	564	(a) A statement of the condition and balance of the residential housing
565	565	infrastructure revolving loan fund.
566	566	(b) Information concerning each loan awarded under sub. (4) or (5), including
567	567	all of the following:
568	568	1. The date, amount, amortization period, and current status of the loan.
569	569	2. An identification of the loan recipient.
570	570	3. A description of the eligible project funded with the loan, including whether
571	571	the project is for workforce housing or senior housing.
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596	596	LRB-3060/1
597	597	MPG:cjs
598	598	SECTION 1
599	599	SENATE BILL 293
600	600	4. An identification of the eligible governmental unit with respect to which the
601	601	loan was awarded.
602	602	(c) The number of dwelling units created to date as a result of the loan program,
603	603	the locations and sale or rental prices of the dwelling units, and whether the dwelling
604	604	units constitute workforce housing or senior housing.
605	605	(END)
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