Housing (Property Development)

AB 375 modifies Wisconsin's historic rehabilitation tax credit program. It extends the credit to cover rehabilitation work completed after 2025, maintaining a 20% credit on qualified rehabilitation costs (minimum $50,000) for certified historic structures and qualified rehabilitated buildings. The bill adds new certification requirements through the Wisconsin Economic Development Corporation and allows taxpayers to transfer unused credits to other entities subject to state taxes. This directly affects property owners and developers who rehabilitate historic buildings in Wisconsin, providing them with a tax incentive for such projects. The changes align Wisconsin's credit with federal rules while updating eligibility and claim procedures.

SB 180 modifies Wisconsin's housing programs under the Wisconsin Housing and Economic Development Authority (WHEDA). It allows WHEDA to offer loans with interest rates at or below market rate minus 1% (or no interest) and requires newly constructed workforce or senior housing to remain affordable for 10 years after initial occupancy. For owner-occupied homes, it restricts resale prices to the original purchase price plus annual inflation (capped at 5% per year), with these rules recorded on property deeds and published online by WHEDA. The bill directly affects developers receiving WHEDA loans and future homeowners purchasing qualifying affordable housing units, applying to new loans starting January 1, 2026.