LRB-1850/P2
MPG:cdc
2019 - 2020 LEGISLATURE
DOA:......Quinn, BB0294 - Business Development Tax Credit Renewable Energy Bonus
For 2019-2021 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
commerce and economic development
Economic development
1. Energy efficiency and use of renewable resources in certain building projects
Subject to certain limitations, current law authorizes WEDC to award tax credits to a person making an investment in a building project in this state. The award may equal up to 5 percent of the investment.
Under this bill, WEDC may additionally award tax credits to a person making an investment in a building project in this state, if the project satisfies certain requirements under current law, and if the investment is made for purposes of energy efficiency or the generation of energy from renewable resources.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section
1. 238.308 (4) (a) 4m. of the statutes is created to read:
238.308 (4) (a) 4m. In addition to any tax benefit awarded under subd. 4., an amount equal to up to 5 percent of the person's real property investment in a capital investment project, if the project satisfies subd. 4. and if the investment is made for purposes of energy efficiency or the generation of energy from renewable resources. The corporation shall include in any contract for the award of tax benefits under this subdivision a requirement that the recipient of the tax benefits provide documentation to the corporation verifying all expenditures under this subdivision and showing the energy efficiency or renewable energy impacts of those expenditures.
(End)
