Governor Scott Walker signed Act 176 into law establishing a Wisconsin housing
tax credit program. The new state program provides a tax incentive for private investment
in the development or rehabilitation of affordable rental housing.
As the sole administrator
for federal housing tax credits in the state, the Wisconsin Housing and Economic Development
Authority (WHEDA) has been chosen to lead the new program including
certification of eligibility and monitoring compliance. The Wisconsin Department of Revenue will
issue the state credits on the tax returns of the recipients.
“This is tremendous news for the entire state,” said WHEDA Executive Director
Wyman Winston. “The economic benefits are incredible, including the stimulation
of quality rental housing, the creation of construction jobs, a reduction in
cost burdens for renters, and an infusion of private capital throughout
WHEDA also administers the federal housing tax credits. The new state tax
credit program can be matched with the federal 4% credit program increasing the
leverage and creating the potential for a significant increase in affordable
housing in Wisconsin.
ACT 176 gives preference to qualified developments located in municipalities
with populations under 150,000. The
allocation for the 2018 program is $7 million in tax credits for a period of
six years. Each $7 million issued
generates $42 million in credits over the six year period. There is no sunset to the program.
Since the federal housing tax credit program began in 1986,
WHEDA has awarded more than $363 million in tax credits resulting in the
development and rehabilitation of more than 54,000 units of affordable rental
housing for low- to moderate-income families, seniors and persons with special
am extremely grateful to Governor Walker and the entire Wisconsin Legislature
for their support of this critical legislation,” said Winston. “Thanks to their
decisive and unanimous action, the opportunities to find quality, safe,
affordable housing across Wisconsin will be expanded substantially.
For 45 years, WHEDA, as an
independent state authority, has provided low-cost financing for housing and
small business development in Wisconsin. Since 1972, WHEDA has financed
more than 73,000 affordable rental units, helped more than 125,800 families
purchase a home and made more than 29,000 small business and agricultural loan
guarantees. For more information on
WHEDA programs, visit wheda.com or call 800-334-6873.