Last December, Wisconsin Act 62 created a 20 percent tax credit for rehabilitation of certain historic properties. This past June, the Wisconsin Economic Development Corporation (WEDC) placed a moratorium on the receipt of applications for the Historic Preservation Tax Credit program pending a review of the program. Originally, the program was estimated to have a $4 million budget impact. However, due to the success and popularity of the program, the budget impact grew significantly beyond its original estimate to approximately $35 million. On July 14, 2014 Wisconsin Governor Scott Walker announced that WEDC will lift the moratorium, allowing projects that were given LIHTC awards with the Historic Preservation Tax Credit to move forward.
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