Bill > AB194

This bill makes several modifications to housing programs administered by the Wisconsin Housing and Economic Development Authority (WHEDA), aiming to streamline processes and potentially increase housing development. Key changes include expanding the definition of "developer" to include tribal housing authorities and business entities created by tribal councils for certain programs, and clarifying what constitutes "residential housing" by ensuring it is subject to taxation. The bill also revises requirements for governmental units seeking to reduce housing costs, allowing for broader application of revised ordinances and regulations and requiring more detailed cost-reduction analyses. Loan limits and interest rate provisions are adjusted in some programs, with interest rates potentially lowered to one percent or waived entirely, and loan amounts increased. Furthermore, the bill introduces new provisions for the conversion of vacant commercial buildings to residential or mixed-use developments, including specific definitions for "developer" and "eligible project" in this context, and modifies the criteria for what constitutes a "residential housing development" based on the population of the governmental unit. It also introduces regional allocation requirements for certain loan funds to ensure equitable distribution across the state. Finally, the bill enhances disclosure requirements for property sales by requiring sellers to inform potential buyers about restrictive covenants or deed restrictions, such as those related to resale price limits or occupancy requirements imposed by WHEDA-funded developments, and clarifies the applicability of these changes to future loans and property reports.

Housing and Urban Affairs

https://docs.legis.wisconsin.gov/2025/proposals/reg/asm/bill/ab194