WI AB1096

Establishes a $50 million revolving loan fund under the Wisconsin Housing and Economic Development Authority (WHEDA) to provide gap funding for workforce housing construction projects that have already secured partial financing

Limits individual loans to a maximum of $3 million, with interest rates at or below the bond rate plus 0.5%, and requires developers to collaborate with local governments (cities, villages, towns, counties, or tribal entities) when applying

Defines eligible workforce housing as units where annual housing costs do not exceed 30% of 120% of area median income, for occupancy by households earning no more than 120% of area median income

Requires developers to demonstrate secured financing for remaining project costs, all necessary permits, and an agreement with the local governmental unit before receiving a loan

Caps regional distribution at 12.5% of initial bond funds per application cycle, based on regional planning commission boundaries, and requires WHEDA to submit annual reports to the legislature on fund status and housing units created