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SB1095: Bill Text
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2025 - 2026 LEGISLATURE
LRB-1304/1
KRP:emw
2025 SENATE BILL 1095
March 4, 2026 - Introduced by Senators
Roys
,
Pfaff
,
Dassler-Alfheim
,
Larson
,
Ratcliff
,
Smith
and
Spreitzer
, cosponsored by Representatives
Fitzgerald
,
Goodwin
,
Johnson
,
Sinicki
and
Clancy
. Referred to Committee on Insurance, Housing, Rural Issues and Forestry.
SB1095,1,4
1
An Act
to amend
234.165 (2) (dm), 234.623 (5) and 234.625 (1);
to create
2
234.625 (1m) of the statutes;
relating to:
the property tax deferral loan
3
program administered by the Wisconsin Housing and Economic Development
4
Authority.
Analysis by the Legislative Reference Bureau
Under current law, the Wisconsin Housing and Economic Development Authority operates a property tax deferral loan program, under which WHEDA makes loans to homeowners who are 65 years of age or older, or who are qualifying veterans of any age, for the purpose of helping homeowners pay property taxes and special assessments. Currently, a homeowner is eligible for a loan under the program if the homeowner earned $20,000 or less in income in the year prior to the year in which the property taxes or special assessments for which the loan is made are due. Currently, a loan may not exceed the lesser of $3,525 or the sum of the following: 1) property taxes for which the loan is sought; 2) special assessments on the property; and 3) interest and penalties on any delinquent property taxes or special assessments.
This bill changes the eligibility requirements for the program by providing that a homeowner is eligible for a loan if the homeowner earned 80 percent or less of the median family income of the county in which the property is located in the year prior to the year in which the property taxes or special assessments for which the loan is made are due. The bill also increases the maximum loan amount to $5,000 and requires WHEDA to index the amount for inflation. Finally, the bill allows WHEDA to spend up to 5 percent of the amount WHEDA allocates to the program on marketing for the program.
Because this bill may increase or decrease, directly or indirectly, the cost of the development, construction, financing, purchasing, sale, ownership, or availability of housing in this state, the Department of Administration, 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:
SB1095,1
1
Section
1
.
234.165 (2) (dm) of the statutes is amended to read:
SB1095,2,6
2
234.165
(2)
(dm) The authority shall allocate a portion of its surplus in a plan
3
prepared under par. (b) to the property tax deferral loan program under ss. 234.621
4
to 234.626.
The authority may spend up to 5 percent of the amount allocated under
5
this paragraph to establish and administer a marketing program to advertise the
6
property tax deferral loan program.
SB1095,2
7
Section
2
.
234.623 (5) of the statutes is amended to read:
SB1095,2,12
8
234.623
(5)
The participant earned no more than
$20,000 in income, as
9
defined under s. 71.52 (5),
80 percent of the area median income, as defined in s.
10
234.66 (1) (a), of the county in which the property is located
in the year prior to the
11
year in which the property taxes or special assessments for which the loan is made
12
are due.
SB1095,3
13
Section
3
.
234.625 (1) of the statutes is amended to read:
SB1095,3,8
14
234.625
(1)
The authority shall enter into agreements with participants and
15
their co-owners to loan funds to pay property taxes and special assessments on
16
their qualifying dwelling units.
The
Subject to sub. (1m), the
maximum loan under
17
ss. 234.621 to 234.626 in any one year is limited to the lesser of
$3,525
$5,000
or the
1
amount obtained by adding the property taxes levied on the qualifying dwelling
2
unit for the year for which the loan is sought, the special assessments levied on the
3
dwelling unit, and the interest and penalties for delinquency attributable to the
4
property taxes or special assessments. Loans shall bear interest at a rate equal to
5
the prime lending rate at the time the rate is set, as reported by the federal reserve
6
board in federal reserve statistical release H. 15, plus 1 percent. The executive
7
director shall set the rate no later than October 15 of each year, and that rate shall
8
apply to loans made in the following year.
SB1095,4
9
Section
4
.
234.625 (1m) of the statutes is created to read:
SB1095,3,14
10
234.625
(1m)
The authority shall annually, as of January 1, adjust the
11
maximum loan amount under sub. (1), rounded to the nearest whole dollar, to
12
reflect any changes in the U.S. consumer price index for all urban consumers, U.S.
13
city average, as determined by the U.S. department of labor, for the 12-month
14
period ending on the preceding June 30.
SB1095,5
15
Section
5
. Initial applicability.
SB1095,3,18
16
(
1
)
The treatment of ss. 234.623 (5) and 234.625 (1) first applies to property
17
tax deferral loans under ss. 234.621 to 234.626 for which applications are filed on
18
the effective date of this subsection.
SB1095,3,19
19
(end)
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