Wisconsin 2025-2026 Regular Session

Wisconsin Assembly Bill AB194 Compare Versions

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

Old	New	Differences
1	1	2025 - 2026 LEGISLATURE
2	2	LRB-2643/1
3	3	MDE:klm&cjs
4	4	2025 ASSEMBLY BILL 194
5	5	April 15, 2025 - Introduced by Representatives ARMSTRONG, BROOKS, ANDERSON,
6	6	BROWN, DESMIDT, DONOVAN, DOYLE, EMERSON, FRANKLIN, GOODWIN, GREEN,
7	7	HYSELL, B. JACOBSON, JOERS, KITCHENS, KREIBICH, KRUG, MELOTIK, MURPHY,
8	8	MURSAU, NEUBAUER, NOVAK, O'CONNOR, ORTIZ-VELEZ, PALMERI, PENTERMAN,
9	9	PIWOWARCZYK, ROE, SPIROS, UDELL and GOEBEN, cosponsored by Senators
10	10	QUINN, FEYEN, JAGLER, DASSLER-ALFHEIM, HABUSH SINYKIN, JAMES, PFAFF,
11	11	RATCLIFF, SPREITZER, WALL, WIRCH and SMITH. Referred to Committee on
12	12	Housing and Real Estate.
13	13
14	14	*AUTHORS SUBJECT TO CHANGE*
15	15	AN ACT to repeal 234.66 (1) (g) 2., 234.66 (1) (g) 3., 234.661 (1) (c) 5., 234.661 (1)
16	16	(c) 6., 234.662 (1) (e) 3. and 234.662 (1) (e) 4.; to renumber and amend
17	17	234.66 (1) (b), 234.66 (4) (a) 5., 234.661 (1) (e), 234.661 (3) (b) 3., 234.662 (1) (c),
18	18	234.662 (1) (f) and 234.662 (3) (b) 3.; to consolidate, renumber and amend
19	19	234.66 (1) (g) (intro.) and 1.; to amend 234.66 (4) (a) 7., 234.66 (4) (c) 2., 234.66
20	20	(5) (c), 234.66 (5m) (b), 234.661 (1) (b), 234.661 (3) (b) (intro.), 234.661 (3) (b) 4.,
21	21	234.661 (3) (b) 5., 234.661 (3) (c), 234.661 (3) (d), 234.661 (3m) (b), 234.661 (5)
22	22	(b) 4., 234.662 (1) (d), 234.662 (1) (e) (intro.), 234.662 (1) (g), 234.662 (3) (b)
23	23	(intro.), 234.662 (3) (b) 4., 234.662 (3) (b) 5., 234.662 (3) (c), 234.662 (3) (d) 2.,
24	24	234.662 (3m) (b) and 234.662 (5) (b) 4.; to create 234.66 (1) (b) 1., 234.66 (1) (b)
25	25	2., 234.66 (4) (a) 5. b., 234.661 (1) (cm), 234.661 (1) (e) 2., 234.661 (3) (b) 3. b.,
26	26	234.661 (3) (em), 234.662 (1) (c) 2., 234.662 (1) (em), 234.662 (1) (f) 2., 234.662
27	27	(3) (b) 3. b. and 234.662 (3) (fm) of the statutes; relating to: modifications to
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41	41	ASSEMBLY BILL 194
42	42	- 2 - LRB-2643/1
43	43	MDE:klm&cjs
44	44	housing programs under the Wisconsin Housing and Economic Development
45	45	Authority.
46	46	Analysis by the Legislative Reference Bureau
47	47	This bill makes modifications to three housing programs administered by the
48	48	Wisconsin Housing and Economic Development Authority: the residential housing
49	49	infrastructure revolving loan program, also known as the Infrastructure Access
50	50	Program; the main street housing rehabilitation revolving loan program, also
51	51	known as the Restore Main Street Program; and the commercial-to-housing
52	52	conversion revolving loan program, also known as the Vacancy-to-Vitality Program.
53	53	For the Infrastructure Access Program, the bill does all of the following:
54	54	1. Allows a loan to a developer to provide up to 33 percent of total project costs
55	55	and a loan to a governmental unit to provide up to 25 percent of total project costs.
56	56	Under current law, a loan to a developer may provide up to 20 percent of total
57	57	project costs and a loan to a governmental unit may provide up to 10 percent of total
58	58	project costs.
59	59	2. Allows tribal housing authorities or business entities created by a tribal
60	60	council to receive loans as developers of eligible projects.
61	61	For the Restore Main Street Program, the bill does all of the following:
62	62	1. Allows a loan to provide up to $50,000 per dwelling unit or 33 percent of
63	63	total project costs, whichever is less. Under current law, a loan may provide up to
64	64	$20,000 per dwelling unit or 25 percent of total project costs, whichever is less.
65	65	2. Requires WHEDA to divide the state into regions based on the service
66	66	jurisdiction of each regional planning commission constituted under current law,
67	67	with the counties not served by a regional planning commission constituting
68	68	collectively one region. Under the bill, of the moneys appropriated to the program[s
69	69	revolving loan fund in the 2023-25 fiscal biennium, WHEDA must expend any
70	70	remaining unencumbered moneys in such a way that no region receives in loans
71	71	more than 12.5 percent of the total amount of the moneys appropriated in the 2023-
72	72	25 fiscal biennium.
73	73	3. Allows loans to be awarded to projects under the jurisdiction of a federally
74	74	recognized American Indian tribe or band.
75	75	For the Vacancy-to-Vitality Program, the bill does all of the following:
76	76	1. Allows a loan to provide up to 33 percent of total project costs related to
77	77	constructing residential housing and eliminates the dollar amount cap on loans.
78	78	Under current law, a loan may provide up to $1,000,000 per project or 20 percent of
79	79	total project costs, whichever is less.
80	80	2. Permits housing developments with four or more dwelling units to be
81	81	eligible for a loan if the housing development is located in a governmental unit with
82	82	a population of 10,000 or less. Under current law, an eligible housing development
83	83	must have 16 or more dwelling units.
84	84	3. Allows a project converting a vacant commercial building to a mixed-use
85	85	development that contains residential housing to be eligible for a loan under the
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88	88	ASSEMBLY BILL 194
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91	91	SECTION 1
92	92	program. Under current law, to be eligible for a loan, a construction project must
93	93	convert a vacant commercial building to residential housing. Under the bill, a loan
94	94	awarded for the conversion of a vacant commercial building to a mixed-use
95	95	development must be for costs associated with constructing residential housing
96	96	within the mixed-use development.
97	97	4. Requires WHEDA to divide the state into regions based on the service
98	98	jurisdiction of each regional planning commission constituted under current law,
99	99	with the counties not served by a regional planning commission constituting
100	100	collectively one region. Under the bill, of the moneys appropriated to the program[s
101	101	revolving loan fund in the 2023-25 fiscal biennium, WHEDA must expend any
102	102	remaining unencumbered moneys in such a way that no region receives in loans
103	103	more than 12.5 percent of the total amount of the moneys appropriated in the 2023-
104	104	25 fiscal biennium.
105	105	5. Allows tribal housing authorities or business entities created by a tribal
106	106	council to receive loans as developers of eligible projects.
107	107	For all three of the programs, the bill does all of the following:
108	108	1. Permits eligible projects to benefit from a tax incremental district and to
109	109	use historic tax credits. Under current law, eligible projects may not benefit from a
110	110	tax incremental district or use historic tax credits.
111	111	2. Allows a loan to be awarded for projects on tribal reservation or trust lands
112	112	not subject to property taxes in this state if the land is designated as tribal
113	113	reservation or trust lands on the effective date of the bill.
114	114	3. In applying for a loan, requires that, in addition to the current law
115	115	requirement that a governmental unit establish that it has reduced the cost of
116	116	housing in connection with the eligible project, a governmental unit establish that
117	117	it has reduced the cost of housing within the governmental unit, generally.
118	118	4. Allows a governmental unit to satisfy the loan eligibility condition that it
119	119	update the housing element of the statutorily required local government
120	120	comprehensive plan if, within the 5 years immediately preceding the date of the
121	121	loan application, the governmental unit adopts an ordinance or resolution
122	122	certifying that the housing element of the governmental unit [s current
123	123	comprehensive plan provides an adequate housing supply that meets existing and
124	124	forecasted housing demand in the governmental unit.
125	125	5. Allows a loan to be secured by a corporate guarantee. Under current law, a
126	126	loan under any of the three programs must be secured by a personal guarantee.
127	127	For further information see the state fiscal estimate, which will be printed as
128	128	an appendix to this bill.
129	129	The people of the state of Wisconsin, represented in senate and assembly, do
130	130	enact as follows:
131	131	SECTION 1. 234.66 (1) (b) of the statutes is renumbered 234.66 (1) (b) (intro.)
132	132	and amended to read:
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135	135	ASSEMBLY BILL 194
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138	138	SECTION 1
139	139	234.66 (1) (b) (intro.) XDeveloperY means a person other than a governmental
140	140	unit that constructs or creates residential housing. and that is any of the following:
141	141	SECTION 2. 234.66 (1) (b) 1. of the statutes is created to read:
142	142	234.66 (1) (b) 1. A person other than a governmental unit.
143	143	SECTION 3. 234.66 (1) (b) 2. of the statutes is created to read:
144	144	234.66 (1) (b) 2. A tribal housing authority or business entity created by a
145	145	tribal council.
146	146	SECTION 4. 234.66 (1) (g) (intro.) and 1. of the statutes are consolidated,
147	147	renumbered 234.66 (1) (g) and amended to read:
148	148	234.66 (1) (g) XResidential housingY means new single-family or multifamily
149	149	housing for rent or sale that satisfies all of the following: 1. Is is subject to taxation
150	150	under ch. 70 or that is not subject to taxation under ch. 70 because, on the effective
151	151	date of this paragraph .... [LRB inserts date], it is designated as reservation lands,
152	152	as defined in s. 165.92 (1) (a), or trust lands, as defined in s. 165.92 (1) (d).
153	153	SECTION 5. 234.66 (1) (g) 2. of the statutes is repealed.
154	154	SECTION 6. 234.66 (1) (g) 3. of the statutes is repealed.
155	155	SECTION 7. 234.66 (4) (a) 5. of the statutes is renumbered 234.66 (4) (a) 5.
156	156	(intro.) and amended to read:
157	157	234.66 (4) (a) 5. (intro.) The eligible governmental unit has reduced the cost of
158	158	residential housing in connection with the eligible project by voluntarily revising
159	159	zoning ordinances, subdivision regulations, or other land development regulations
160	160	to increase development density, expedite approvals, reduce impact, water
161	161	connection, and inspection fees, or reduce parking, building, or other development
162	162	costs with respect to the development of residential housing supported by the
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190	190	SECTION 7
191	191	project. The governmental unit[s revisions to the ordinances or regulations shall
192	192	include revisions that were made in connection with the eligible project and
193	193	revisions that generally apply to residential housing projects within the
194	194	governmental unit. For purposes of this subdivision, the governmental unit in
195	195	cooperation with the developer shall submit to the authority a cost reduction
196	196	analysis in a form prescribed by the authority and signed by the developer and the
197	197	head of the governmental unit[s governing body that shows the includes the
198	198	following:
199	199	a. Information that clearly shows the estimated time or dollar amount saved
200	200	by the developer and the estimated percentage reduction in housing costs for each
201	201	cost reduction measures measure, including any time saving measures measure,
202	202	undertaken by the governmental unit on or after January 1, 2023, that have has
203	203	reduced the cost of residential housing in connection with the eligible project. The
204	204	signed analysis shall clearly show for each time saving or cost reduction measure
205	205	the estimated time or dollar amount saved by the developer and the estimated
206	206	percentage reduction in housing costs.
207	207	SECTION 8. 234.66 (4) (a) 5. b. of the statutes is created to read:
208	208	234.66 (4) (a) 5. b. Information that clearly shows the estimated time or dollar
209	209	amount reduction and the estimated percentage reduction in housing costs for each
210	210	cost reduction measure, including any time saving measure, undertaken by the
211	211	governmental unit on or after January 1, 2023, that generally applies to residential
212	212	housing projects within the governmental unit and that has reduced the cost of
213	213	residential housing within the governmental unit. These cost and time saving
214	214	measures may include the cost and time saving measures of the eligible project.
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241	241	MDE:klm&cjs
242	242	SECTION 9
243	243	SECTION 9. 234.66 (4) (a) 7. of the statutes is amended to read:
244	244	234.66 (4) (a) 7. If applicable, the eligible governmental unit has updated the
245	245	housing element of its comprehensive plan under s. 66.1001 (2) (b) within the 5
246	246	years immediately preceding the date of the loan application. This condition may be
247	247	satisfied if, within the 5 years immediately preceding the date of the loan
248	248	application, the governmental unit adopts an ordinance or resolution certifying
249	249	that the housing element of its current comprehensive plan provides an adequate
250	250	housing supply that meets existing and forecasted housing demand in the
251	251	governmental unit.
252	252	SECTION 10. 234.66 (4) (c) 2. of the statutes is amended to read:
253	253	234.66 (4) (c) 2. No loan awarded under this subsection may exceed 20 33
254	254	percent of the total cost of development, including land purchase, of the residential
255	255	housing supported by the eligible project.
256	256	SECTION 11. 234.66 (5) (c) of the statutes is amended to read:
257	257	234.66 (5) (c) No loan awarded under this subsection may exceed 10 25
258	258	percent of the amount of the total cost of development of the residential housing
259	259	supported by the eligible project.
260	260	SECTION 12. 234.66 (5m) (b) of the statutes is amended to read:
261	261	234.66 (5m) (b) Require that the full amount of each loan awarded under sub.
262	262	(4) is secured by one or more unlimited personal or corporate guarantees, unless the
263	263	developer provides no personal or corporate guarantee on any first mortgage for the
264	264	eligible project and the developer[s total debt associated with the project does not
265	265	exceed 75 percent of the total collateral value of the project, as determined by the
266	266	authority.
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293	293	MDE:klm&cjs
294	294	SECTION 13
295	295	SECTION 13. 234.661 (1) (b) of the statutes is amended to read:
296	296	234.661 (1) (b) XEligible political subdivision governmental unitY means the
297	297	city, village, town, or county governmental unit having jurisdiction over an eligible
298	298	project, as determined by the authority.
299	299	SECTION 14. 234.661 (1) (c) 5. of the statutes is repealed.
300	300	SECTION 15. 234.661 (1) (c) 6. of the statutes is repealed.
301	301	SECTION 16. 234.661 (1) (cm) of the statutes is created to read:
302	302	234.661 (1) (cm) XGovernmental unitY means a city, village, town, county, or
303	303	federally recognized American Indian tribe or band in this state.
304	304	SECTION 17. 234.661 (1) (e) of the statutes is renumbered 234.661 (1) (e)
305	305	(intro.) and amended to read:
306	306	234.661 (1) (e) (intro.) XRental housingY means single-family or multifamily
307	307	housing offered or intended to be offered for rent that to which any of the following
308	308	applies:
309	309	1. The housing is subject to taxation under ch. 70.
310	310	SECTION 18. 234.661 (1) (e) 2. of the statutes is created to read:
311	311	234.661 (1) (e) 2. The housing is not subject to taxation under ch. 70 because,
312	312	on the effective date of this subdivision .... [LRB inserts date], it is designated as
313	313	reservation lands, as defined in s. 165.92 (1) (a), or as trust lands, as defined in s.
314	314	165.92 (1) (d).
315	315	SECTION 19. 234.661 (3) (b) (intro.) of the statutes is amended to read:
316	316	234.661 (3) (b) (intro.) From the main street housing rehabilitation revolving
317	317	loan fund, the authority may award loans to owners of rental housing to cover
318	318	housing rehabilitation costs for an eligible project. Any owner of rental housing,
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346	346	SECTION 19
347	347	other than a city, village, town, or county governmental unit, may apply to the
348	348	authority for a loan in accordance with the application process established by the
349	349	authority under par. (c), but the authority may not award the loan unless the owner
350	350	of the rental housing and eligible political subdivision governmental unit
351	351	demonstrate to the satisfaction of the authority in one or more forms prescribed by
352	352	the authority that all of the following apply:
353	353	SECTION 20. 234.661 (3) (b) 3. of the statutes is renumbered 234.661 (3) (b) 3.
354	354	(intro.) and amended to read:
355	355	234.661 (3) (b) 3. (intro.) The eligible political subdivision governmental unit
356	356	has reduced the cost of rental housing in connection with the eligible project by
357	357	voluntarily revising zoning ordinances, subdivision regulations, or other land
358	358	development regulations to increase development density, expedite approvals,
359	359	reduce impact fees, or reduce parking, building, or other development costs with
360	360	respect to the eligible project. The governmental unit[s revisions to the ordinances
361	361	or regulations shall include revisions that were made in connection with the eligible
362	362	project and revisions that generally apply to residential housing projects within the
363	363	governmental unit. For purposes of this subdivision, the political subdivision
364	364	governmental unit in cooperation with the owner shall submit to the authority a
365	365	cost reduction analysis in a form prescribed by the authority and signed by the
366	366	owner and the head of the political subdivision[s governmental unit[s governing
367	367	body that shows the includes the following:
368	368	a. Information that clearly shows the estimated time or dollar amount saved
369	369	by the developer and the estimated percentage reduction in housing costs for each
370	370	cost reduction measures measure, including any time saving measures measure,
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398	398	SECTION 20
399	399	undertaken by the political subdivision governmental unit on or after January 1,
400	400	2023, that have has reduced the cost of rental housing in connection with the
401	401	eligible project. The signed analysis shall clearly show for each time saving or cost
402	402	reduction measure the estimated time or dollar amount saved by the owner and the
403	403	estimated percentage reduction in rental housing costs.
404	404	SECTION 21. 234.661 (3) (b) 3. b. of the statutes is created to read:
405	405	234.661 (3) (b) 3. b. Information that clearly shows the estimated time or
406	406	dollar amount reduction and the estimated percentage reduction in housing costs
407	407	for each cost reduction measure, including any time saving measure, undertaken by
408	408	the governmental unit on or after January 1, 2023, that generally applies to
409	409	residential housing projects within the governmental unit and that has reduced the
410	410	cost of residential housing within the governmental unit. These cost and time
411	411	saving measures may include the cost and time saving measures of the eligible
412	412	project.
413	413	SECTION 22. 234.661 (3) (b) 4. of the statutes is amended to read:
414	414	234.661 (3) (b) 4. The eligible political subdivision governmental unit is in
415	415	compliance with the requirements under ss. 66.1001, 66.10013, and 66.10014, to
416	416	the extent those requirements apply to the political subdivision governmental unit.
417	417	SECTION 23. 234.661 (3) (b) 5. of the statutes is amended to read:
418	418	234.661 (3) (b) 5. The If applicable, the eligible political subdivision
419	419	governmental unit has updated the housing element of its comprehensive plan
420	420	under s. 66.1001 (2) (b) within the 5 years immediately preceding the date of the
421	421	loan application. This condition may be satisfied if, within the 5 years immediately
422	422	preceding the date of the loan application, the governmental unit adopts an
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450	450	SECTION 23
451	451	ordinance or resolution certifying that the housing element of its current
452	452	comprehensive plan provides an adequate housing supply that meets existing and
453	453	forecasted housing demand in the governmental unit.
454	454	SECTION 24. 234.661 (3) (c) of the statutes is amended to read:
455	455	234.661 (3) (c) The authority shall establish a semiannual application process
456	456	for the award of loans under this subsection. If in any application cycle there are
457	457	insufficient moneys available in the main street housing rehabilitation revolving
458	458	loan fund to fund all applications that meet the requirements under par. (b) and are
459	459	otherwise acceptable to the authority, the authority shall prioritize funding loans
460	460	for eligible projects in eligible political subdivisions governmental units that have
461	461	reduced the cost of rental housing as described in par. (b) 3. but with respect to the
462	462	political subdivision governmental unit as a whole.
463	463	SECTION 25. 234.661 (3) (d) of the statutes is amended to read:
464	464	234.661 (3) (d) No loan awarded under this subsection may exceed $20,000
465	465	$50,000 per dwelling unit or 25 33 percent of the total housing rehabilitation project
466	466	costs, whichever is less, and the authority may establish an interest rate for any
467	467	loan awarded under this subsection at or below the market interest rate or may
468	468	charge no interest.
469	469	SECTION 26. 234.661 (3) (em) of the statutes is created to read:
470	470	234.661 (3) (em) The authority shall divide the state into regions based on the
471	471	service jurisdiction as of the effective date of this paragraph .... [LRB inserts date],
472	472	of each regional planning commission constituted under s. 66.0309, with the
473	473	counties not served by a regional planning commission as of that date constituting
474	474	collectively one region. The authority shall, to the extent feasible, expend any of the
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498	498	24 2025 - 2026 Legislature
499	499	ASSEMBLY BILL 194
500	500	- 11 - LRB-2643/1
501	501	MDE:klm&cjs
502	502	SECTION 26
503	503	moneys deposited into the fund under sub. (2) (a) 1. in the 2023-25 fiscal biennium
504	504	that are unencumbered on the effective date of this paragraph .... [LRB inserts
505	505	date], in such a way that no region receives more than 12.5 percent of the total
506	506	moneys deposited into the fund under sub. (2) (a) 1. in the 2023-25 fiscal biennium
507	507	in loans awarded under this subsection.
508	508	SECTION 27. 234.661 (3m) (b) of the statutes is amended to read:
509	509	234.661 (3m) (b) Require that the full amount of each loan under sub. (3) is
510	510	secured by one or more unlimited personal or corporate guarantees, unless the
511	511	developer provides no personal or corporate guarantee on any first mortgage for the
512	512	eligible project and the developer[s total debt associated with project does not exceed
513	513	75 percent of the total collateral value of the project, as determined by the
514	514	authority.
515	515	SECTION 28. 234.661 (5) (b) 4. of the statutes is amended to read:
516	516	234.661 (5) (b) 4. An identification of the eligible political subdivision
517	517	governmental unit with respect to which the loan was awarded.
518	518	SECTION 29. 234.662 (1) (c) of the statutes is renumbered 234.662 (1) (c)
519	519	(intro.) and amended to read:
520	520	234.662 (1) (c) (intro.) XDeveloperY means a person other than a city, village,
521	521	town, or county, that converts a vacant commercial building to residential use. and
522	522	that is any of the following:
523	523	1. A person other than a city, village, town, or county.
524	524	SECTION 30. 234.662 (1) (c) 2. of the statutes is created to read:
525	525	234.662 (1) (c) 2. A tribal housing authority or business entity created by a
526	526	tribal council.
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550	550	24 2025 - 2026 Legislature
551	551	ASSEMBLY BILL 194
552	552	- 12 - LRB-2643/1
553	553	MDE:klm&cjs
554	554	SECTION 31
555	555	SECTION 31. 234.662 (1) (d) of the statutes is amended to read:
556	556	234.662 (1) (d) XEligible political subdivision governmental unitY means the
557	557	city, village, town, or county governmental unit having jurisdiction over an eligible
558	558	project, as determined by the authority.
559	559	SECTION 32. 234.662 (1) (e) (intro.) of the statutes is amended to read:
560	560	234.662 (1) (e) (intro.) XEligible projectY means a construction project for the
561	561	conversion of a vacant commercial building to a new residential housing
562	562	development, or a construction project for the conversion of a vacant commercial
563	563	building to a new mixed-use development that contains a residential housing
564	564	development, that consists of workforce housing or senior housing if all of the
565	565	following apply:
566	566	SECTION 33. 234.662 (1) (e) 3. of the statutes is repealed.
567	567	SECTION 34. 234.662 (1) (e) 4. of the statutes is repealed.
568	568	SECTION 35. 234.662 (1) (em) of the statutes is created to read:
569	569	234.662 (1) (em) XGovernmental unitY means a city, village, town, county, or
570	570	federally recognized American Indian tribe or band.
571	571	SECTION 36. 234.662 (1) (f) of the statutes is renumbered 234.662 (1) (f)
572	572	(intro.) and amended to read:
573	573	234.662 (1) (f) (intro.) XResidential housingY means single-family or
574	574	multifamily housing for rent or sale that to which any of the following applies:
575	575	1. The housing is subject to taxation under ch. 70.
576	576	SECTION 37. 234.662 (1) (f) 2. of the statutes is created to read:
577	577	234.662 (1) (f) 2. The housing is not subject to taxation under ch. 70 because,
578	578	on the effective date of this subdivision .... [LRB inserts date], it is designated as
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602	602	24 2025 - 2026 Legislature
603	603	ASSEMBLY BILL 194
604	604	- 13 - LRB-2643/1
605	605	MDE:klm&cjs
606	606	SECTION 37
607	607	reservation lands, as defined in s. 165.92 (1) (a), or as trust lands, as defined in s.
608	608	165.92 (1) (d).
609	609	SECTION 38. 234.662 (1) (g) of the statutes is amended to read:
610	610	234.662 (1) (g) XResidential housing developmentY means residential housing
611	611	that consists of 16 or more dwelling units in a governmental unit with a population
612	612	greater than 10,000 or residential housing that consists of 4 or more dwelling units
613	613	in a governmental unit with a population of 10,000 or less.
614	614	SECTION 39. 234.662 (3) (b) (intro.) of the statutes is amended to read:
615	615	234.662 (3) (b) (intro.) From the commercial-to-housing conversion revolving
616	616	loan fund, the authority may award loans to developers to cover construction costs
617	617	for an eligible project for a new residential housing development, including
618	618	demolition, or for construction costs associated with constructing residential
619	619	housing for an eligible project for a new mixed-use development, including
620	620	demolition. Any developer may apply to the authority for a loan in accordance with
621	621	the application process established by the authority under par. (c), but the
622	622	authority may not award the loan unless the developer and the eligible political
623	623	subdivision governmental unit demonstrate to the satisfaction of the authority in
624	624	one or more forms prescribed by the authority that all of the following apply:
625	625	SECTION 40. 234.662 (3) (b) 3. of the statutes is renumbered 234.662 (3) (b) 3.
626	626	(intro.) and amended to read:
627	627	234.662 (3) (b) 3. (intro.) The eligible political subdivision governmental unit
628	628	has reduced the cost of residential housing in connection with the eligible project by
629	629	voluntarily revising zoning ordinances, subdivision regulations, or other land
630	630	development regulations to increase development density, expedite approvals,
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654	654	24 2025 - 2026 Legislature
655	655	ASSEMBLY BILL 194
656	656	- 14 - LRB-2643/1
657	657	MDE:klm&cjs
658	658	SECTION 40
659	659	reduce impact, water connection, and inspection fees, or reduce parking, building,
660	660	or other development costs with respect to the development of residential housing
661	661	supported by the project. The governmental unit[s revisions to the ordinances or
662	662	regulations shall include revisions that were made in connection with the eligible
663	663	project and revisions that generally apply to residential housing projects within the
664	664	governmental unit. For purposes of this subdivision, the political subdivision
665	665	governmental unit in cooperation with the developer shall submit to the authority a
666	666	cost reduction analysis in a form prescribed by the authority and signed by the
667	667	developer and the head of the political subdivision[s governmental unit[s governing
668	668	body that shows the includes the following:
669	669	a. Information that clearly shows the estimated time or dollar amount saved
670	670	by the developer and the estimated percentage reduction in housing costs for each
671	671	cost reduction measures measure, including any time saving measures measure,
672	672	undertaken by the political subdivision governmental unit on or after January 1,
673	673	2023, that have has reduced the cost of residential housing in connection with the
674	674	eligible project. The signed analysis shall clearly show for each time saving or cost
675	675	reduction measure the estimated time or dollar amount saved by the developer and
676	676	the estimated percentage reduction in housing costs.
677	677	SECTION 41. 234.662 (3) (b) 3. b. of the statutes is created to read:
678	678	234.662 (3) (b) 3. b. Information that clearly shows the estimated time or
679	679	dollar amount reduction and estimated percentage reduction in housing costs for
680	680	each cost reduction measure, including any time saving measure, undertaken by
681	681	the governmental unit on or after January 1, 2023, that generally applies to
682	682	residential housing projects within the governmental unit and that has reduced the
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706	706	24 2025 - 2026 Legislature
707	707	ASSEMBLY BILL 194
708	708	- 15 - LRB-2643/1
709	709	MDE:klm&cjs
710	710	SECTION 41
711	711	cost of residential housing within the governmental unit. These cost and time
712	712	saving measures may include the cost and time saving measures of the eligible
713	713	project.
714	714	SECTION 42. 234.662 (3) (b) 4. of the statutes is amended to read:
715	715	234.662 (3) (b) 4. The eligible political subdivision governmental unit is in
716	716	compliance with the requirements under ss. 66.1001, 66.10013, and 66.10014, to
717	717	the extent those requirements apply to the political subdivision governmental unit.
718	718	SECTION 43. 234.662 (3) (b) 5. of the statutes is amended to read:
719	719	234.662 (3) (b) 5. The If applicable, the eligible political subdivision
720	720	governmental unit has updated the housing element of its comprehensive plan
721	721	under s. 66.1001 (2) (b) within the 5 years immediately preceding the date of the
722	722	loan application. This condition may be satisfied if, within the 5 years immediately
723	723	preceding the date of the loan application, the governmental unit adopts an
724	724	ordinance or resolution certifying that the housing element of its current
725	725	comprehensive plan provides an adequate housing supply that meets existing and
726	726	forecasted housing demand in the governmental unit.
727	727	SECTION 44. 234.662 (3) (c) of the statutes is amended to read:
728	728	234.662 (3) (c) The authority shall establish a semiannual application process
729	729	for the award of loans under this subsection. If in any application cycle there are
730	730	insufficient moneys available in the commercial-to-housing conversion revolving
731	731	loan fund to fund all applications that meet the requirements under par. (b) and are
732	732	otherwise acceptable to the authority, the authority shall prioritize funding loans
733	733	for eligible projects in eligible political subdivisions governmental units that have
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756	756	23 2025 - 2026 Legislature
757	757	ASSEMBLY BILL 194
758	758	- 16 - LRB-2643/1
759	759	MDE:klm&cjs
760	760	SECTION 44
761	761	reduced the cost of residential housing as described in par. (b) 3. but with respect to
762	762	the political subdivision governmental unit as a whole.
763	763	SECTION 45. 234.662 (3) (d) 2. of the statutes is amended to read:
764	764	234.662 (3) (d) 2. No loan awarded under this subsection may exceed
765	765	$1,000,000 per eligible project or 20 33 percent of the total project costs related to
766	766	constructing residential housing, including any land purchase, whichever is less.
767	767	SECTION 46. 234.662 (3) (fm) of the statutes is created to read:
768	768	234.662 (3) (fm) The authority shall divide the state into regions based on the
769	769	service jurisdiction as of the effective date of this paragraph .... [LRB inserts date],
770	770	of each regional planning commission constituted under s. 66.0309, with the
771	771	counties not served by a regional planning commission as of that date constituting
772	772	collectively one region. The authority shall, to the extent feasible, expend any of the
773	773	moneys deposited into the fund under sub. (2) (a) 1. in the 2023-25 fiscal biennium
774	774	that are unencumbered on the effective date of this paragraph .... [LRB inserts
775	775	date], in such a way that no region receives more than 12.5 percent of the total
776	776	moneys deposited into the fund under sub. (2) (a) 1. in the 2023-25 fiscal biennium
777	777	in loans awarded under this subsection.
778	778	SECTION 47. 234.662 (3m) (b) of the statutes is amended to read:
779	779	234.662 (3m) (b) Require that the full amount of each loan awarded under
780	780	sub. (3) is secured by one or more unlimited personal or corporate guarantees,
781	781	unless the developer provides no personal or corporate guarantee on any first
782	782	mortgage for the eligible project and the developer[s total debt associated with the
783	783	project does not exceed 75 percent of the total collateral value of the project, as
784	784	determined by the authority.
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808	808	24 2025 - 2026 Legislature
809	809	ASSEMBLY BILL 194
810	810	- 17 - LRB-2643/1
811	811	MDE:klm&cjs
812	812	SECTION 48
813	813	SECTION 48. 234.662 (5) (b) 4. of the statutes is amended to read:
814	814	234.662 (5) (b) 4. An identification of the eligible political subdivision
815	815	governmental unit with respect to which the loan was awarded.
816	816	(END)
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