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April 30, 2018<\/p>\n
The HTC bill (SB 668) preserves the state\u2019s HTC program as a key economic driver in both small and large communities across Wisconsin. The legislation increases the per project\/parcel cap on HTC awards to $3.5 million, \u201cfixing\u201d the partial budget veto that would have set the HTC per project cap at $500,000 beginning in July 2018.<\/p>\n In addition to restoring the state HTC program, WEDA also actively engaged in advocacy efforts to preserve the federal HTC program, which was in jeopardy of being eliminated as part of the federal 2017 Tax Cuts and Jobs Act. Fortunately, the federal HTC was saved, but Congress made the following changes to the program in the comprehensive tax reform bill passed late last year:<\/p>\n The changes to the federal HTC also impacted Wisconsin\u2019s program. Since Wisconsin\u2019s HTC program acts as a supplement to the federal historic tax credits, the Tax Cuts and Jobs Act modifications also apply to Wisconsin\u2019s credits. As a result, the state credit for pre-1936 buildings is effectively eliminated and state credits for certified historic buildings must now be claimed over a five-year period.<\/p>\n Gov. Walker also signed another critical economic development-related bill into law – AB 811. The legislation will provide new funding to build off the WEDC’s Think-Make-Happen talent attraction platform, expanding its reach and focusing on key populations that are more likely to relocate to Wisconsin \u2013 including millennials from neighboring states and Wisconsin alumni. It will also allow for greater collaboration and resource sharing among state agencies, which should result in a more consistent and effective message that is needed to help attract skilled employees to Wisconsin. The $6.8 million investment in the program should serve as a key component to the state’s overall efforts to address the workforce shortage crisis.<\/p>\n <\/p>\n Thanks to the increased advocacy efforts of WEDA members across the state, the session provided some significant \u201cwins\u201d for economic development. For a quick recap of WEDA\u2019s legislative successes, as well as a few disappointments, please see our 2017-18 Legislative Priorities Scorecard<\/a>. In addition, click here<\/a> to view the full list of legislation supported by WEDA that was signed into law during the 2017-18 legislative session.<\/p>\n If you have any questions or would like more information on WEDA’s Legislative Priorities Scorecard or the legislation listed-above, please contact WEDA Legislative Affairs Director Michael Welsh at mwelsh@weda.org<\/a>.<\/p>\n <\/p>\n According to the latest Wisconn Valley News, site preparation work began last week on the $10 billion Foxconn advanced manufacturing campus in Racine County that could eventually employ up to 13,000 workers. An official groundbreaking ceremony is expected to be held within the next few months. Please click here<\/a> to see a timeline of developments and progress made on the Foxconn project since Wisconsin began conversations with the Taiwan-based electronics manufacturer last year.<\/p>\n In addition to announcing the start of site preparation work, Foxconn and M+W Gilbane, the construction manager that will oversee the project\u2019s budget and bid development, also announced that 90 percent of the contractors for the site work are from Wisconsin. Of the 90 percent of Wisconsin companies, 10 percent are from Racine County, and 10 percent are minority, veteran or woman owned businesses.<\/p>\n For more information of the Foxconn project, visit the state of Wisconsin’s Wisconn Valley website<\/a>.<\/p>\n <\/p>\n The last edition of Political News and Notes reported on the Legislature’s passage of legislation (SB 798<\/a>) to provide parents with a child tax rebate of $100 per child, as well as a one-weekend “back-to-school” sales tax holiday. Since then, Gov. Scott Walker has signed the bill, but not before he used his veto pen to extend the sales tax holiday.<\/p>\n The legislation as passed by lawmakers created a two-day sales tax holiday scheduled for the weekend of Aug. 4-5, 2018. Through the creative use of his veto pen, Walker extended the sales tax holiday from two to five days, which will now run from Aug. 1 through Aug. 5. The Governor\u2019s action to extend the tax holiday will cost the state an extra $3 million, bringing the total cost to cost $14.8 million over the five-day period.<\/p>\n During the sales tax holiday, shoppers will NOT pay sales taxes of following items:<\/p>\n Certain items will remain taxable during the sales tax holiday, including: Sports or recreational equipment; protective equipment; clothing accessories, such as jewelry or watches; school art supplies; and school instructional materials, such as textbooks.<\/p>\n Gov. Walker’s Veto:<\/strong><\/span><\/p>\n![\"\"](\"https:\/\/weda.org\/wp-content\/uploads\/2018\/04\/Historic-tax-credits.jpg\")
<\/a>Earlier this month, Gov. Scott Walker put a bow on the 2017-18 legislative session, signing the last large batch of bills the Legislature sent to his desk. Among the final bills signed into law was legislation to restore the historic tax credit (HTC) as a powerful economic development tool and a proposal to inject $6.8 million into WEDC\u2019s Think-Make-Happen talent attraction marketing program.<\/p>\n\n
\nWEDA legislative session recap<\/h1>\n
<\/a>WEDA began the 2017-18 legislative session with an aggressive legislative agenda to enhance effective economic development tools; strengthen Wisconsin’s workforce; build a more competitive business climate; and support a robust infrastructure.<\/p>\n
\nSite work begins on Foxconn project<\/h1>\n
\nGovernor’s veto extends sales tax holiday<\/h1>\n
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