Gov. Walker signed into law the two-year budget on June 26. Over 50 percent of the general funds were devoted to local government services such as public schools and public safety. Below are a few of the major highlights of the budget bill:
- Limits growth in property taxes on the median value home to less than 1 percent each year.
- Eliminates regional transit authorities and their ability to raise local taxes.
- Sends $160 million to the new Wisconsin Economic Development Corporation to help lure new businesses to Wisconsin.
- Transfers $160 million in general fund revenue to the transportation fund, including an ongoing transfer of 0.25 percent of general fund taxes annually, with an annual minimum of $35 million.
- Reduces the Stewardship program’s bonding authority by $234 million through 2019-20, saving Wisconsin taxpayers $80 million.
- Expands private school choice program by repealing the enrollment limit, raising the income threshold to 300 percent of poverty, and allowing Racine School District to participate in the program based on newly established criteria.
In signing the biennial budget bill, Gov. Walker made only 50 line-item vetoes to the budget. Some of the more prominent vetoes include:
- Requirement that suspended Milwaukee police officers receive full pay and benefits until final decision and appeal period is finished.
- Regulation and licensing of bail bond surety agents and corporations.
- Weight-based taxation for moist snuff tobacco products.