I don't know what things are like in Wisconsin, but the Kansas City area it's the same thing that metropolises are going through nation wide. Companies own vast swathes of properties and raise rent on people every year while having race-to-the-bottom staff and support issues. So these bills look like they might help symptoms of that case (create more supply), but not address the root cause (monopoly ownership).
I wish they would at least put stipulations on those loans like, the dwellings built from this money may only be sold to single-family owners. But anything built by these large development companies also gets put into HOAs which is another nightmare unto itself.