This bill modifies Wisconsin's property tax deferral loan program to increase the maximum loan amount from $3,525 to $5,000 annually. It also establishes an annual adjustment mechanism that ties the loan limit to changes in the consumer price index, ensuring the amount keeps pace with inflation. The legislation applies these changes to loans where applications are filed after the bill's effective date. Additionally, the bill allows the Wisconsin Housing and Economic Development Authority to use up to 5 percent of allocated funds for marketing the program. Eligible participants must still meet existing income requirements, earning no more than $20,000 or 80 percent of the area median income.
This bill creates a new fund and loan program to help first-time home buyers in Wisconsin cover costs like down payments, closing costs, and mortgage insurance. The program is managed by the Wisconsin Housing and Economic Development Authority and provides interest-free loans up to $35,000 or 10 percent of the home's purchase price, whichever is less. Eligible borrowers must be first-time home buyers or those who lost their home to foreclosure, have household income at or below 100 percent of the area median income, complete a home buyer education course, and agree to live in the home as their primary residence. The loans are forgiven in installments over ten years if the borrower keeps the home as their primary residence, with larger forgiveness amounts at five and ten-year intervals. The bill also appropriates $150 million for the fund in the 2025-26 fiscal year and allows the authority to invest unused funds in safe, low-risk investments.
SB 944 adjusts how property tax limits are calculated for cities and towns (political subdivisions) that redevelop parking lots into new commercial, residential, or mixed-use buildings. Specifically, it adds 1.5 times the value increase from qualifying parking lot redevelopment to the annual development percentage used in tax levy calculations. Qualifying redevelopment requires at least 40% of the parcel area to have been paved parking in the prior year. This change applies to all political subdivisions with qualifying projects but specifically includes tax increment districts in Evansville and Stevens Point, plus new districts after 2024. The bill aims to account for redevelopment value in tax levy limits without increasing the overall tax burden.
SB 1033 would change zoning rules for development districts in the Village of Somers by raising the maximum allowable residential land use from 35% to 50% of the district's total area. This specifically affects new residential projects within Somers' tax incremental districts, which are designated areas used to spur local economic development through tax revenue reinvestment. The bill amends a statute defining "mixed-use development" to remove the 35% cap and replace it with a 50% limit for Somers, while maintaining the 35% cap for other areas. This policy change directly modifies how residential space can be allocated in development plans approved for Somers' tax increment districts.
AB 885 limits how cities can regulate land development outside their official boundaries. It prevents municipalities from denying approval for land plats or surveys based solely on the proposed land use, unless the denial follows specific, pre-approved rules related to: (1) land use itself, (2) public improvements, (3) land division standards, or (4) annexation agreements. This directly affects developers and landowners seeking to build in areas adjacent to cities but not yet within city limits. The bill ensures cities can only block development for clearly defined reasons, not arbitrary concerns about how land might be used.
AB 917 creates a $150 million First-Time Home Buyer Purchasing Assistance Fund to provide interest-free loans for eligible buyers. It directly affects first-time homebuyers who have never owned a home (or lost one to foreclosure), earn at or below 100% of local median income, complete homebuyer education, and occupy the home as their primary residence. Loans cover up to $35,000 or 10% of the home’s purchase price (whichever is lower) for down payments, closing costs, and other expenses, with 12.5% forgiveness after 2.5 years and full forgiveness after 10 years. Repayment is triggered if the home is sold, stops being the primary residence, or if the borrower violates loan terms. The program is administered by Wisconsin’s Housing and Economic Development Authority.
SB 873 limits a municipality's ability to deny land subdivision approvals (plats) for areas outside its city limits but within its planning jurisdiction. It prevents cities from blocking such approvals based solely on the proposed land use, instead requiring denials to be based on four specific, pre-approved criteria: land use type, public improvement specifications, land division standards, or annexation agreements. The bill also allows municipalities to recover attorney fees if they successfully sue to enforce these rules. This directly affects developers seeking to build in areas adjacent to incorporated cities and the municipalities reviewing those projects.
AB 708 extends the lifespan of tax incremental districts (TIDs) used for housing improvements by up to three years after a city pays off project costs. It directly affects cities that have established TIDs for housing development, allowing them to continue using tax increment financing beyond the district's original expiration. The bill requires cities to submit extension resolutions to the Department of Revenue and obtain joint review board approval for extensions longer than one year. This change aims to provide more flexibility for cities to complete housing projects without losing access to dedicated funding streams.
AB 812 amends a state statute to allow up to 50% of a tax incremental district's area in the Village of Somers to be used for residential development, increasing the previous limit from 35%. This change directly affects developers, planners, and property owners within Somers' designated tax increment districts by expanding permissible residential use. The bill modifies the statutory definition of "mixed-use development" to specify this higher residential percentage only for districts in Somers, while maintaining the 35% limit elsewhere in the state.
AB 737 allows municipalities to establish neighborhood improvement districts that can impose special property charges to fund infrastructure directly related to residential development within those neighborhoods. Property owners in designated districts would pay these charges, which can be collected in installments over time and included in regular tax bills, rather than requiring delinquency. The bill requires districts to specify exactly which infrastructure projects the funds will support and how charges are calculated per parcel, while allowing exemptions from notice requirements if a single owner holds all properties in the district. This legislation affects local property owners and municipalities by creating a new mechanism for financing neighborhood-specific infrastructure improvements through targeted assessments.
