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Historic tax credit program moratorium lifted

Posted Monday, July 14th 2014 @ 10am  by Associated Press


MADISON, Wis. (AP) _ A moratorium on a historic tax credit program in Wisconsin announced three weeks ago over concerns about how expensive it had become is being lifted.

Gov. Scott Walker said Monday that the Wisconsin Economic Development Corporation will be once again approving tax credits under the program.

The moratorium came after costs for the tax credits grew from the original estimate of $4 million to more than $35 million.

Walker says WEDC completed a review an determined it can lift the moratorium ``due to the rigorous application process'' required by State Historic Preservation Officer and the National Park Service for projects before they seek the state tax credit.

Walker's release did not explain in detail how that process would differ from what was in place originally leading to the cost concerns.



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