Notes, bonds, and economic development programs of the Wisconsin Housing and Economic Development Authority, homeownership mortgage loans used to refinance existing mortgages, and uses of the housing rehabilitation loan fund. (FE)

2. Authorizes WHEDA to hold, sell, or cancel WHEDA's notes or bonds WHEDA itself purchases. Under current law, such notes or bonds must be canceled.

3. Provides that every four years, beginning in 2018, WHEDA may request approval of the Joint Committee on Finance to issue additional notes and bonds in the amount specified in the request for economic development purposes if the authority determines that the issuance of additional notes and bonds will promote significant economic development in this state.

4. Authorizes WHEDA to issue a homeownership mortgage loan to a homeowner for the refinancing of the homeowner's existing mortgage if the property is located in an area in a first class city in which WHEDA determines there is a high concentration of persons and families of low and moderate income, the homeowner does not qualify for a mortgage loan through other lenders, and the homeownership mortgage loan WHEDA issues is used in part to finance rehabilitation of the eligible property.

5. Allows WHEDA to use moneys from its housing rehabilitation loan fund to purchase or fund loans under any down payment assistance program established by WHEDA. Current law requires WHEDA to use moneys from the housing rehabilitation loan fund for funding housing rehabilitation loans or administering the housing rehabilitation loan program.