New State tax credit law to help finance local affordable housing developments
Act 176 was signed into law on May 17, establishing a Wisconsin housing tax credit program that 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) was 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...
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