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Walker signs historic tax credit bill

 
 Walker signs historic tax credit bill
Posted Wednesday, December 11th 2013 @ 2pm  by Associated Press

MADISON, Wis. (AP) _ Gov. Scott Walker says a historic tax credit bill he has signed into law will help revitalize downtowns across Wisconsin.

Walker signed the measure Wednesday at the Hotel Northland in Green Bay. Redevelopment of that 1920s-era hotel is among the projects expected to benefit from the bill that doubles a tax credit available for such expenses.

The new law extends a 20 percent tax credit to all qualified rehabilitation expenses done to buildings built before 1936.

Walker says the tax credit will help lessen renovation and rehabilitation costs that have hampered rebuilding projects in the past.

The city of Green Bay plans to use the tax credit as part of its $35 million renovation of the Hotel Northland, which has been vacant for many years.

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