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Thursday, January 20, 2011

 4:28 PM 

Assembly approves economic development tax credits

The Assembly has approved adding $25 million to the amount of economic development tax credits available from the state.

Dems tried amending the bill to redirect the money to transportation projects, pointing to a Legislative Fiscal Bureau memo that found it was unlikely companies would claim the credits in 2010-11 or during the 2011-13 biennium. Of the existing economic tax credits allocated, $73.1 million had not been allocated to eligible projects as of this month, according to the analysis.

But Rep. Robin Vos, R-Rochester, said that was largely because the Doyle administration did not take full advantage of the money.

"They are full speed ahead, and the hope is they use this money and come back to us for more because that would mean they are aggressively courting jobs all across Wisconsin," Vos said of the Walker administration.

Republicans also turned back other Dem amendments, including one requiring employers pay at least 150 percent of the federal minimum wage to qualify for the credits.

The body signed off on an amendment to require passive review by the JFC of the Department of Commerce's plan for allocating the funds.


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