State Legislature approves increase to historic tax credit cap


State Legislature approves increase to historic tax credit cap


Per-project cap increases from $500,000 to $3.5 million in bi-partisan vote...

The bill passed in the state Senate 29-3 and unanimously in the Assembly. It now goes to Governor Scott Walker, who issued a line item budget veto in September, reducing the per-project cap from $5 million to $500,000.

The $500,000 cap was to go into effect on July 1.

A coalition of preservationists, economic development groups and real estate organizations advocated for the increase....

   ...more

Ken Notes: This is all about the right projects and the credit is often used on projects that are not well prioritized. We need to BOTH increase the credit and improve the approval process. One without the other is a disaster waiting to happen...

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- - Volume: 6 - WEEK: 8 Date: 2/22/2018 10:02:01 AM -