State puts historic tax credit program on hold

By: AP Email
By: AP Email

MADISON, Wis. (AP) -- The state's chief jobs agency has hit the pause button on a historic tax credit program because it's proving to be more popular, and therefore more expensive, than predicted.

The Wisconsin Economic Development Corp. notified co-chairs of the Legislature's budget committee on Monday that the program would be put on hold while a review is undertaken.

Gov. Scott Walker in December signed a bill into law that expanded the program but did not place a cap on how many credits could be handed out in any given year.

It was estimated that credits would hit $4 million in the first year. But Reed Hall, secretary and CEO of WEDC, says that projects for more than $35 million have come in for certification.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WEAU 13 NEWS 1907 S. Hastings Way Eau Claire, WI 54701 By Phone: Main Number (715) 835-1313 and (715) 832-3474. Tip Line (715) 839-WEAU - (715) 839-9328 Sports Line (715) 852-1537
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 264618221 - weau.com/a?a=264618221