Wisconsin lawmakers hold hearings on two ag-related tax proposals

Wisconsin lawmakers held committee hearings on two ag-related tax bills Thursday.

Jordan Lamb is an attorney and lobbyist, and she tells Brownfield the bills would allow both Evansville and Stevens Point to create tax incremental financing districts for new development beyond the existing limits. She says for Evansville, “CHS is working to build a brand new 700-million dollar soybean processing facility in the City of Evansville. According to the data from the company, the facility will create 90 jobs and have the capacity to process 70 million bushels of soybeans each year.”

Lamb says Stevens Point is one of two possible sites for Agristo to build a large French fry manufacturing facility. “It’s looking to make a 40-45 million dollar investment in the City of Stevens Point in a commerce park for a potato processing facility. They’re projecting 150 jobs and the potential to purchase an estimated 18-20 thousand acres of Wisconsin’s potato crop for processing annually.”

State statutes cap a city’s Tax Incremental District funding at 12% of the total equalized value in the municipality unless they have approval from the State Legislature.

The Evansville proposal is Assembly Bill 834 and Senate Bill 787.  The Stevens Point proposal is Assembly Bill 983 and Senate Bill 880.

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