Relating to: the property tax deferral loan program administered by the Wisconsin Housing and Economic Development Authority.

Summary

The legislation tells the Wisconsin Housing and Economic Development Authority to use part of its surplus to expand its property tax deferral loan program and to spend up to 5% of that money on advertising. It limits eligibility to households earning $20,000 or less (about 80% of area median income) and caps loans at the lesser of $3,525, $5,000, or the total taxes, assessments, interest and penalties owed, with the cap adjusted each year for inflation. The bill also sets the loan interest rate at the prime rate plus one percent and requires the rate to be set by October 15 for the following year.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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