SB484,7,2423 (a) “Allocation certificate" means an allocation certificate issued by the
24Wisconsin Housing and Economic Development Authority under s. 234.045 (3) (a).
SB484,7,2525 (b) “Claimant” means a person who files a claim under this subsection.
SB484,8,4
1(2) Filing claims. For taxable years beginning after December 31, 2019,
2subject to the limitations provided in this section and in s. 234.045, a claimant may
3claim as a credit against the fees imposed under s. 76.60, 76.63, 76.65, 76.66, or 76.67
4the amount specified in the allocation certificate.
SB484,8,6 5(3) Limitations. No person may claim the credit under sub. (2) unless the
6claimant includes with the claimant's return a copy of the allocation certificate.
SB484,8,12 7(4) Carry-forward. If the credit that a claimant may claim under sub. (2) is
8not entirely offset against the fees under s. 76.60, 76.63, 76.65, 76.66, or 76.67
9otherwise due, the unused balance shall be carried forward and credited against
10those fees for the following 10 taxable years to the extent not offset by the fees in all
11intervening years between the year in which the credit is allowed under the
12allocation certificate and the year in which the carry-forward credit is claimed.
SB484,8,18 13(5) Transfer. Any person may sell or otherwise transfer the credit under sub.
14(2), in whole or in part, to another person who is subject to the taxes or fees imposed
15under s. 71.02, 71.23, 71.43, 76.60, 76.63, 76.65, 76.66, or 76.67 if the person notifies
16the department of the transfer and submits with the notification a copy of the
17transfer documents, and the department certifies the change in the credit's
18ownership.
SB484,9 19Section 9 . 76.67 (2) of the statutes is amended to read:
SB484,9,520 76.67 (2) If any domestic insurer is licensed to transact insurance business in
21another state, this state may not require similar insurers domiciled in that other
22state to pay taxes greater in the aggregate than the aggregate amount of taxes that
23a domestic insurer is required to pay to that other state for the same year less the
24credits under ss. 76.635, 76.636, 76.637, 76.638, 76.639, 76.6395, and 76.655, except
25that the amount imposed shall not be less than the total of the amounts due under

1ss. 76.65 (2) and 601.93 and, if the insurer is subject to s. 76.60, 0.375 percent of its
2gross premiums, as calculated under s. 76.62, less offsets allowed under s. 646.51 (7)
3or under ss. 76.635, 76.636, 76.637, 76.638, 76.639, 76.6395, and 76.655 against that
4total, and except that the amount imposed shall not be less than the amount due
5under s. 601.93.
SB484,10 6Section 10 . 234.045 of the statutes is created to read:
SB484,9,7 7234.045 Workforce housing tax credits. (1) Definitions. In this section:
SB484,9,108 (a) “Allocation certificate" means a statement issued by the authority certifying
9that an eligible recipient may claim tax benefits and specifying the amount of the tax
10benefits that the eligible recipient may claim.
SB484,9,1211 (b) “Lender" means any banking institution, savings bank, savings and loan
12association, or credit union organized under the laws of this state.
SB484,9,1413 (c) “Tax benefits” means the tax credit under ss. 71.07 (8f), 71.28 (8f), 71.47 (8f),
14and 76.6395.
SB484,9,17 15(2) Establishment of program. The authority shall establish and administer
16a program under this section for the award of tax benefits to encourage the creation
17of workforce housing in this state.
SB484,9,21 18(3) Certifications. (a) The authority may certify a person to claim tax benefits
19in an amount determined by the authority by issuing the person an allocation
20certificate. The allocation certificate shall state the amount the authority
21determines the person is eligible to claim.
SB484,9,2322 (b) With respect to any eligible workforce housing project, the authority may
23issue an allocation certificate under par. (a) to only one of the following:
SB484,9,2424 1. The lender financing the project.
SB484,9,2525 2. The business for whose benefit the project is being carried out.
SB484,10,1
13. The developer of the project.
SB484,10,32 (c) A project is an eligible workforce housing project under par. (b) only if all of
3the following requirements are satisfied:
SB484,10,64 1. The project is for the construction or renovation of residential real property
5that is located in a county with a population density of less than 155 persons per
6square mile.
SB484,10,107 2. The person applying for tax benefits demonstrates to the satisfaction of the
8authority that there is a need for additional manufacturing workers in the area in
9which the project is located and that a lack of adequate housing in the area is a
10barrier to filling that need.
SB484,10,1311 3. The occupants of the housing being constructed or renovated will have a
12household income that satisfies the income limitations applicable for home
13ownership mortgage loans under s. 234.59.
SB484,10,1614 (d) The authority may not issue an allocation certificate to a person under par.
15(b) unless the person demonstrates to the satisfaction of the authority that the
16person has exhausted all funding available from the following:
SB484,10,1717 1. Community development block grants.
SB484,10,1818 2. Local assistance, including tax incremental financing.
SB484,10,2019 3. All assistance otherwise available under programs administered by the
20authority.
SB484,10,2221 (e) The authority may charge a fee to applicants for allocation certificates under
22par. (a) for the authority's administrative costs under this section.
SB484,10,25 23(4) Limitations. (a) The authority may not certify a person to claim tax benefits
24under sub. (3) (a) in an amount that exceeds 50 percent of the total cost of the eligible
25workforce housing project.
SB484,11,3
1(b) The aggregate amount of all tax benefits for which the authority certifies
2persons in allocation certificates issued under sub. (3) (a) may not exceed
3$10,000,000.
SB484,11,6 4(5) Contract and revocation requirements. (a) The authority shall contract
5with each recipient of an allocation certificate under sub. (3) (a). The contract shall
6establish the terms and conditions under which the recipient may claim tax benefits.
SB484,11,97 (b) The authority shall revoke a person's allocation certificate, and the person
8shall repay to the authority all tax benefits already claimed by the person, if the
9person does any of the following:
SB484,11,1110 1. Supplies false or misleading information to obtain an allocation certificate
11under sub. (3) (a).
SB484,11,1212 2. Supplies false or misleading information to obtain tax benefits.
SB484,11,1313 3. Breaches the person's contract with the authority under par. (a).
SB484,11,16 14(6) Policies and procedures. (a) The authority, in consultation with the
15department of revenue, shall establish policies and procedures to administer this
16section.
SB484,11,1917 (b) The policies and procedures under par. (a) shall establish a competitive
18process for the award of allocation certificates under sub. (3) (a) that gives priority
19to all of the following:
SB484,11,2120 1. The number of jobs that will be created in connection with the eligible
21workforce housing project.
SB484,11,2322 2. The amount of additional funding for the project the applicant has secured
23from nonstate sources.
SB484,11,2424 3. The applicant's readiness to proceed with the project.
SB484,12,2
1(7) Coordination. In administering this section, the authority shall coordinate
2with the Wisconsin Economic Development Corporation.
SB484,12,4 3(8) Report. No later than September 31, 2022, the authority shall submit a
4report to the joint committee on finance that includes all of the following:
SB484,12,55 (a) A summary of all awards of tax benefits.
SB484,12,66 (b) The number of applications for tax benefits the authority received.
SB484,12,87 (c) A description of how much workforce housing was created as a result of the
8program.
SB484,12,99 (d) The number of workers who received housing as a result of the program.
SB484,12,1110 (e) The authority's assessment, including relevant data, of the overall success
11of the program.
SB484,12,13 12(9) Sunset. The authority may not issue an allocation certificate under sub.
13(3) after December 31, 2021.
SB484,11 14Section 11 . Nonstatutory provisions.
SB484,12,2115 (1) Payment to the general fund. No later than June 30, 2020, the Wisconsin
16Housing and Economic Development Authority shall pay $10,000,000 from the
17authority's surplus fund, as specified in s. 234.165 (1), to the secretary of
18administration for deposit in the general fund. The payment under this subsection
19is not subject to s. 234.165 (2) (c) and may, at the discretion of the Wisconsin Housing
20and Economic Development Authority, include surplus amounts previously
21approved for expenditure for another purpose under s. 234.165 (2) (b).
SB484,12,2222 (End)
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