Gov. Walker signs bill boosting historic tax credit program

MADISON — Gov. Scott Walker has signed into law a measure boosting tax credits available for historic rehabilitation projects in Wisconsin from $500,000 to $3.5 million.

The Legislature gave bipartisan, nearly unanimous approval to the measure that Walker signed Monday.

Raising the cap comes just months after the Legislature voted to set it at $500,000.

Proponents for the higher cap Walker signed into law say the lower limit could have crippled the program and resulted in fewer historic properties, especially in small towns, being saved and used as tools to spur economic development.

A broad coalition supported the new law, including the Wisconsin League of Municipalities, historic preservation groups, real estate agents, and builders.