summary
Introduced
10/02/2025
10/02/2025
In Committee
10/02/2025
10/02/2025
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
2025-2026 Regular Session
Bill Summary
This bill requires the Wisconsin Housing and Economic Development Authority to establish and administer a condominium conversion grant program for the purpose of awarding grants to owners of multifamily housing for the costs associated with converting multifamily housing to condominiums. Those costs may include reasonable attorney fees, state and local permitting fees, and any other costs associated with the conversion. The total amount awarded in grants under the bill for a single parcel of land may not exceed $50,000, and the bill permits WHEDA to direct up to $10,000,000 from the main street housing rehabilitation revolving loan fund for the grants. WHEDA is required to market the availability of grants under the bill and submit annual reports relating to the grant program to the Joint Committee on Finance and legislative committees having jurisdiction over housing. Because this bill may increase or decrease, directly or indirectly, the cost of the development, construction, financing, purchasing, sale, ownership, or availability of LRB-4837/1 MDE:emw 2025 - 2026 Legislature SENATE BILL 481 housing in this state, the Department of Administration, as required by law, will prepare a report to be printed as an appendix to this bill. For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
AI Summary
This bill establishes a condominium conversion reimbursement grant program administered by the Wisconsin Housing and Economic Development Authority (WHEDA). The program will provide grants to owners of multifamily housing to help cover the costs of converting their properties into condominiums. These costs can include attorney fees, state and local permitting fees, and other conversion-related expenses. The grant program has specific limitations: no single parcel of land can receive more than $50,000 in grants, and WHEDA can allocate up to $10,000,000 from the main street housing rehabilitation revolving loan fund for these grants. WHEDA is required to market the availability of these grants and submit annual reports to legislative committees, detailing information such as grant dates, amounts, recipients, project descriptions, and locations. The bill defines key terms like "condominium" and "grant project" and amends existing statutes to incorporate this new grant program into WHEDA's existing housing rehabilitation framework. The first reporting requirement for this new program will begin on August 2, 2026, allowing time for the program to be established and initial grants to be processed.
Committee Categories
Agriculture and Natural Resources
Sponsors (11)
Dan Feyen (R)*,
Scott Allen (R),
Robert Brooks (R),
Robert Donovan (R),
Dan Knodl (R),
Rob Kreibich (R),
Dave Murphy (R),
Jerry O'Connor (R),
Lori Palmeri (D),
Jim Piwowarczyk (R),
Rob Summerfield (R),
Last Action
Public hearing held (on 10/15/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://docs.legis.wisconsin.gov/2025/proposals/reg/sen/bill/sb481 |
| Senate Substitute Amendment 1 | https://docs.legis.wisconsin.gov/document/amends/2025/REG/SB481-SSA1.pdf |
| Fiscal Note - SB481: Fiscal Estimate From WHEDA | https://docs.legis.wisconsin.gov/2025/related/fe/sb481/sb481_wheda.pdf |
| Fiscal Note - SB481: Fiscal Estimate From DOA | https://docs.legis.wisconsin.gov/2025/related/fe/sb481/sb481_doa.pdf |
| BillText | https://docs.legis.wisconsin.gov/document/proposaltext/2025/REG/SB481.pdf |
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