Listen Live on  
 

101.5 WIBA FM

Madison's Classic Rock
 
 

State puts historic tax credit program on hold

 
Posted Wednesday, June 25th 2014 @ 1pm  by Associated Press

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.

 

@

Recommended Stories

More from 101.5 WIBA FM

*