Support for State Historic Tax Credit
AIA Wisconsin supports state historic tax credits as an effective tool for encouraging the redevelopment of local communities. As part of the state budget bill, the Governor used his line-item veto authority to limit historic tax credit awards to $500,000 per parcel. Proposed legislation has been introduced (Assembly Bill 793 & Senate Bill 668) to increase the per parcel historic tax credit limit to $3.5 million.
Historic Tax Credits are an effective tool for encouraging the redevelopment of local communities.
Public hearings have been held on the proposal by the Senate Committee on Revenue, Fiscal Institutions & Rural Issues and the Assembly Ways & Means Committee. The proposals are moving forward, with Senate Bill 668 referred to the Joint Committee on Finance.