Wisconsin Senate OKs Boosting Historic Building Tax Credit

Law360, New York (November 12, 2013, 9:35 PM EST) -- The Wisconsin Senate on Tuesday passed legislation that would double the state's tax credit for redevelopment of historic buildings that were constructed prior to 1936, following the lead of other Midwestern states that have used the tax credit to boost regional development.

The Senate voted 31 to 2 in support of the bill, which increases the state's historic tax credit from 10 percent to 20 percent. Wisconsin's credit supplements an existing federal tax credit that can be applied to expenses for restoring historic buildings.

The legislation...
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