Jobs Agenda Continues to Move Forward

With bad federal budget and regulatory policy holding back our economic recovery, we continue to do everything we can at the state level in order to develop a strong environment for job creation. 

Over the last several weeks, the State Legislature approved a number of bills seeking to make Wisconsin a better place to grow jobs and do business, and I anticipate even more action in the weeks ahead.

Following is a partial listing of some of the job creation bills that have passed or may be receiving the consideration of the legislature soon:

Assembly Bill 1 – Jobs Tax Credit – Currently, the Wisconsin Economic Development Corporation may award Jobs Tax Credits to a person who has increased net employment in his or her business.  The credit is equal to a maximum of 10 percent of wages paid, up to $10,000 per new employee.  Under AB 1, the existing $5 million annual cap on Jobs Tax Credits is increased to $10 million.  AB 1 was passed by both the Assembly and Senate, and currently awaits the Governor’s signature.

AB 179 – Multi-Jurisdictional TIF – AB 179 authorizes any number of cities and villages to jointly create a multijurisdictional tax incremental financing district.  This bill is awaiting the Governor’s signature.

Senate Bill 47 – Changes the membership of the Small Business Regulatory Review Board and requires each state government agency to help small businesses comply with rules the agency has written.  Agencies must establish reduced fines and alternative enforcement mechanisms for minor violations and, when appropriate, consider the use of written warnings.  SB 47 awaits the Governor’s signature.

Special Session AB 23 – Tax Procedure Streamlining – This bill addresses some of the fear and uncertainty in the small business community in terms of how state tax procedures are applied.  SS AB 23 updates Wisconsin’s tax laws to create more predictability for businesses and taxpayers and was drafted in response to concerns about Department of Revenue practices uncovered in a 2006 survey of Wisconsin businesses and tax professionals.  This proposal received a hearing in the Assembly Committee on Ways and Means and awaits a committee vote.

SS AB 24 – Iron Mining – This bill would change the regulatory process for the approval of iron mines in Wisconsin.  Still in the policy development stage, the goal of SS AB 24 is to update Wisconsin’s metallic mining laws to reflect the differences between iron and non-iron mining.  Specifically, the bill’s authors are seeking to ensure that iron mining is economical while also providing for reasonable environmental protections.  The result could be the creation of more than 2,800 jobs in Northern Wisconsin as a result of a mining project situated on one of the world’s largest iron deposits right here at home.  A public hearing on this bill was held on Thursday, October 27 in Hurley.

No single one of these bills will be an immediate cure-all for our economic downturn.  However, they are all part of a cumulative strategy for making Wisconsin an easier place to do business, work, make a profit and live.  Particularly with our problems at the federal level, the fruits of our labor will not be immediate, but they will pay off eventually.

To contact me with any questions or comments or to sign up for my regular e-updates, please send an e-mail to Rep.Knodl@legis.wi.gov or call me at (608) 266-3796.