LRB-4694/1
CTS:jld:jf
2009 - 2010 LEGISLATURE
April 16, 2010 - Introduced by Representative Young, cosponsored by Senator
Taylor. Referred to Committee on Housing.
AB961,1,3
1An Act to create 234.036 of the statutes;
relating to: targets for the allocation
2of federal tax credits by the Wisconsin Housing and Economic Development
3Authority.
Analysis by the Legislative Reference Bureau
The Wisconsin Housing and Economic Development Authority (authority)
currently awards certain federal tax credits to developers of affordable rental
housing. This bill directs the authority, each year and each time it allocates the tax
credits in a competitive process for developments in one of 15 Wisconsin counties
specified in the bill, to do all of the following: 1) ensure that the authority awards
reservations of tax credits for developments that will be constructed or developed
utilizing a combination of minority-owned businesses and woman-owned
businesses for not less than 25 percent of "project hard costs," which is defined in the
bill as all costs incurred in constructing a building other than the cost of financing
and land acquisition; 2) ensure that the authority awards reservations of tax credits
for developments that will be constructed or developed utilizing developers who
agree to participate in the authority's co-developer mentor protege program; and 3)
ensure that the authority awards reservations of tax credits for developments that
will be constructed or developed utilizing contractors who agree to employ, and are
willing to encourage subcontractors to agree to employ, individuals who live in the
vicinity of a project to perform work on the project.
Because this bill directly or substantially affects the development,
construction, cost or availability of housing in this state, the Department of
Commerce, as required by law, will prepare a report to be printed as an appendix to
this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB961, s. 1
1Section
1. 234.036 of the statutes is created to read:
AB961,2,7
2234.036 Tax credit allocation; targets. In allocating tax credits under
26
3USC 42 for projects to be constructed in the counties of Brown, Dane, Dodge, Fond
4du Lac, Jefferson, Kenosha, Milwaukee, Outagamie, Ozaukee, Racine, Rock,
5Sheboygan, Walworth, Washington, and Waukesha, the authority shall make every
6effort to do all of the following in each year, each time the authority awards tax credits
7in a competitive process:
AB961,2,13
8(1) Ensure that, in each year, the authority awards reservations of tax credits
9for housing developments that will be constructed or developed utilizing a
10combination of minority-owned businesses and woman-owned businesses for not
11less than 25 percent of project hard costs. For purposes of this subsection, "project
12hard costs" means all costs incurred in constructing a building, except that "project
13hard costs" does not include costs of financing or land acquisition.
AB961,2,16
14(2) Ensure that, in each year, the authority awards reservations of tax credits
15for housing developments that will be constructed or developed utilizing developers
16who agree to participate in the authority's co-developer mentor protege program.
AB961,2,20
17(3) Ensure that, in each year, the authority awards reservations of tax credits
18for housing developments that will be constructed or developed utilizing contractors
19who agree to employ, and are willing to encourage subcontractors to agree to employ,
20individuals who live in the vicinity of a project to perform work on the project.
