FOR IMMEDIATE RELEASE Contact: Rep. Rob Summerfield
March 28, 2018 (608) 266-1194
Home is Where the Heart is…
Wisconsin to Implement a Low-Income Housing Tax Credit Program
Madison – Today, Assembly Bill 869, authored by Rep. Rob Summerfield (R-Bloomer) and Sen. Patrick Testin (R-Stevens Point), was signed into law (2017 Wisconsin Act 76) by Governor Walker.
“One of the biggest challenges for working and middle-class families in Wisconsin is finding affordable housing,” stated Summerfield. “This is a problem that affects us all in some way. The WILIHTC program might not be a silver bullet for our housing shortage; however, it’s good government, and a great step in the right direction.”
AB 869 established a Wisconsin Low Income Housing Tax Credit (WILIHTC) program, which created a 4% state credit as a match to the current Federal 4% LIHTC program. The Federal program has been in existence since 1986, and accounts for approximately 90% of all affordable rental housing created in the United States today.