MADISON, Wis. (AP) -- Gov. Scott Walker plans to sign into law a bill that backers say will help several historic redevelopment projects around the state.
Walker was scheduled to sign 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.
The nonpartisan Legislative Fiscal Bureau estimates the credit will cost the state $8.6 million over the next two years, but backers say it could cost more if the credits prove as popular as expected. Supporters also say the projects will lead to new jobs.
The bill had bipartisan support.
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