NAIOP-WI Identifies Top Legislative Priorities For Remainder of 2013-14 Legislative Session
By Tom Larson
With the 2013-14 legislative session almost over, NAIOP-WI is working hard to pass its remaining legislative priorities before the end of March when the Wisconsin Legislature concludes its work in the Capitol. While NAIOP-WI has had a very successful legislative session so far, several pieces of legislation are still pending. Over the next two months, NAIOP-WI will be working with lawmakers to schedule committee hearings, committee votes, and floor votes in both the Senate and the Assembly. The remaining legislative priorities include the following:
- TIF Decrement/Redevelopment TIF (AB 289/SB 252) – Authorizes municipalities to lower the base value of an existing TIF district when the property is demolished or property values have declined, accelerating the generation of new taxable value and facilitating redevelopment.
- Subdivision Regulations (LRB 3536) — Revises state subdivision regulations (Wis. Stat. Ch. 236) to make it easier to divide commercial and residential land by certified survey maps.
- B bonds/Special Assessment Payments (AB 598) — Allows for tailored principal payments versus level principal payments, which will encourage more economic development opportunities by making special assessment payments more uniform and affordable in the early years of a development project.
- Electrical Contractors (LRB 2698) — Makes changes to new electrical contractor law that is scheduled to go into effect on April 1, 2014. The proposed changes would allow greater flexibility for commercial and residential building owners and property managers to replace ballasts, electrical outlets and make other minor electrical repairs without having an electrical contractor’s license.
- Living Wage Ordinances — Prohibits local units of government from establishing or enforcing local living wage ordinances.
To help pass this legislation, NAIOP-WI are being asked to attend Government Day in Madison on February 26, 2013. This will be an important time to talk face-to-face with key lawmakers to let them know the importance of these issues to the commercial development industry. For more information on Government Day, please contact Chris Korjenek at firstname.lastname@example.org.
Governor Walker To Announce Major Property Tax Reform
Based upon media reports and conversations with key lawmakers, Governor Walker will be soon announcing another major tax reform package. While the details of the package have not yet been released, the package is expected to include between $700 million and $1 billion in property tax and income tax cuts due to greater than anticipated revenue growth at the state level. Earlier this year, Governor Walker and the legislature reduced income taxes by approximately $650 million as part of the 2013-15 state budget, and then reduced property taxes by a $100 million in October. Accordingly, this would be the third major tax cut in Wisconsin this year. Governor Walker will announce more details about the tax cuts during his “state of the state” address on January 22nd.
NAIOP-WI has made tax reform, both property and income taxes, a top priority this legislative session and applauds both the governor and the legislature for their efforts so far in these areas. Because additional tax cuts will help grow Wisconsin’s economy by attracting employers and jobs to the state, NAIOP-WI looks forward to helping Governor Walker and lawmakers enact the latest tax reforms that will hopefully be announced next week.