Increase in tax credit program floated
Sen. Alberta Darling, R-River Falls and Rep. Mike Rohrkaste, R-Neenah are proposing that a $500,000 per project cap on historic tax credit allocations for individual projects be increased to $3.5 million.
According to the Wisconsin State Journal, Gov. Scott Walker used his veto pen to slash the cap from $5 million per project to $500,000 in the latest state budget. Prior to the 2017–2019 budget, there were no caps on the allocations.
The historic tax credit program has funded urban revitalization projects statewide and reportedly resulted in an 8:1 return on investment to the state.