On Dec 11, 2013 Gov. Walker signed 2013 Wisconsin Act 62 into law in the Northland Hotel in downtown Green Bay. This piece of legislation raises the Historic Tax Credit on qualified rehabilitation expenditures of certified historic structures to 20 percent. In addition, a new 20 percent tax credit was created for rehabilitation expenditures on qualified rehabilitated buildings so long as the expenditures exceed $50,000.
The new law also mandates the Department of Revenue and State Historical Society submit a report to the Joint Finance Committee by July 30, 2016, both describing the economic impact of the Act and making a recommendation on the continuation of the tax credit.
October Special Session Assembly Bill 4 passed the Senate on 31-2 vote and the Assembly on a 88-4 vote.
This post was authored by Jake Heyka, an intern at the Hamilton Consulting Group.