MMAC members play a vital role in developing the Blueprint for Economic Prosperity priorities. Below is a summary of significant MMAC items approved in last year's state budget.
Feel free to contact VP of Gov. Affairs Steve Baas at 414/287-4138 for further information concerning these or other state budget items.
Feel free to contact VP of Gov. Affairs Steve Baas at 414/287-4138 for further information concerning these or other state budget items.
Thriving Economy
MMAC Blueprint Goal: “Create a tax, regulatory and business climate that positions Wisconsin for economic growth – nationally and internationally.”
Income Tax Rate Cuts – ($648 million tax cut)
Reduce rates across all Wisconsin individual income tax brackets and reduce the number of brackets:
Reduce rates across all Wisconsin individual income tax brackets and reduce the number of brackets:
|
Income Level
Less than $10,880 $10,990-$21,760 $21,760-$163,220 $163,220-$239,600 More than $239,600 |
Current Rate
4.60% 6.15% 6.50% 6.75% 7.75% |
New Rate
4.40% 5.84% 6.27% 6.27% 7.65% |
Tax Treatment Federalization – ($8.1 million tax cut)
Make Wisconsin’s tax code less expensive and less complicated for business by federalizing treatment of capital gains on small business stock, and depreciation and depletion expensing.
Make Wisconsin’s tax code less expensive and less complicated for business by federalizing treatment of capital gains on small business stock, and depreciation and depletion expensing.
Operating Loss Carry Forward/Look Back – ($8.5 million tax cut)
Allow net operating losses to be carried forward for up to 20 years and carried back for 2 years under the individual income tax. Currently, operating losses may only be carried forward 15 years and carrybacks are not allowed in Wisconsin.
Allow net operating losses to be carried forward for up to 20 years and carried back for 2 years under the individual income tax. Currently, operating losses may only be carried forward 15 years and carrybacks are not allowed in Wisconsin.
Angel Investment Tax Credits
Eliminate the current $47.5 million limit on the maximum amount of Angel Investment Tax Credits that may be awarded by WEDC.
Eliminate the current $47.5 million limit on the maximum amount of Angel Investment Tax Credits that may be awarded by WEDC.
Jobs Tax Credit – ($12 million credit increase)
Increase funding for the Jobs Tax Credit by $12 million. Along with the Enterprise Zone Tax Credit, the Jobs Tax Credit has been the most effective tax incentive tools used by the Milwaukee 7 in its job recruitment efforts.
Increase funding for the Jobs Tax Credit by $12 million. Along with the Enterprise Zone Tax Credit, the Jobs Tax Credit has been the most effective tax incentive tools used by the Milwaukee 7 in its job recruitment efforts.
Enterprise Zone Tax Credit – ($4.6 million credit increase)
Increase funding by $4.6 million and expand eligibility for the Enterprise Zone Tax Credit.
Increase funding by $4.6 million and expand eligibility for the Enterprise Zone Tax Credit.
Estate Tax
Sunset Wisconsin’s estate tax statutes for deaths occurring after December 31, 2012. These statutes would go into effect again if federal law is modified to allow a credit for state death taxes.
Sunset Wisconsin’s estate tax statutes for deaths occurring after December 31, 2012. These statutes would go into effect again if federal law is modified to allow a credit for state death taxes.
Talented Workforce
MMAC Blueprint Goal: “A regional workforce powered by innovative, knowledgeable and skilled individuals who are productive lifelong learners.”
Public Education Funding
Increase general and categorical school aids to public schools by 3.4%.
Increase general and categorical school aids to public schools by 3.4%.
Increase MPS Per Pupil Revenue Limit
Raise existing Milwaukee Public Schools spending limit by $150 per pupil each year over the next two years.
Raise existing Milwaukee Public Schools spending limit by $150 per pupil each year over the next two years.
|
Current 2013-14 2014-15
$9,799 $9,949 $10,099 |
School Choice Per Pupil Funding
Increase per pupil funding for Milwaukee Parental Choice students as follows:
Increase per pupil funding for Milwaukee Parental Choice students as follows:
|
Pupil Grade
K-8 9-12 |
Current
$6,442 $6,442 |
2013-14
$6,442 $6,442 |
2014-15
$7,210 $7,856 |
Charter School Per Pupil Funding
Increase per pupil funding for independent charter schools by $150 each year to the total below:
Current 2013-14 2014-15
$7,775 $7,925 $8,075
Increase per pupil funding for independent charter schools by $150 each year to the total below:
Current 2013-14 2014-15
$7,775 $7,925 $8,075
Choice Funding Flaw Fix
Eliminate local property tax impact of Milwaukee Parental Choice program by phasing in 100% state funding of the program over the next 12 years.
Eliminate local property tax impact of Milwaukee Parental Choice program by phasing in 100% state funding of the program over the next 12 years.
UWM Charter Expansion Authority
Allow the University of Wisconsin-Milwaukee to establish independent charter schools anywhere in Milwaukee County or an adjacent county. Under current law, UWM’s chartering authority is limited to the MPS service area.
Allow the University of Wisconsin-Milwaukee to establish independent charter schools anywhere in Milwaukee County or an adjacent county. Under current law, UWM’s chartering authority is limited to the MPS service area.
Common Core Academic Standards
Maintain state support and implementation schedule for adoption of the Common Core State Standards in English and mathematics. These rigorous, national academic standards will replace the state’s existing and much criticized Wisconsin Knowledge Concepts Examination.
Maintain state support and implementation schedule for adoption of the Common Core State Standards in English and mathematics. These rigorous, national academic standards will replace the state’s existing and much criticized Wisconsin Knowledge Concepts Examination.
Teach for America
Provide $1 million in state support for Teach for America (TFA), and allow TFA experience to count toward professional advancement and administrator education in Wisconsin schools.
Provide $1 million in state support for Teach for America (TFA), and allow TFA experience to count toward professional advancement and administrator education in Wisconsin schools.
Choice School Accreditation
Increase Choice school accountability by requiring that schools in the Choice program successfully maintain their accreditation as a condition of continued program eligibility.
Increase Choice school accountability by requiring that schools in the Choice program successfully maintain their accreditation as a condition of continued program eligibility.
Charter School Teaching License
Allow increased flexibility for licensing teachers in Charter schools.
Allow increased flexibility for licensing teachers in Charter schools.
Work-Based Learning
Allow the Cristo Rey model of vocational, work-based education programming for high school students to operate in Wisconsin.
Allow the Cristo Rey model of vocational, work-based education programming for high school students to operate in Wisconsin.
Unemployment Insurance Reform
Make comprehensive reforms to Wisconsin’s Unemployment Insurance (UI) system to increase system solvency, tighten work requirements, and demand more accountability from UI recipients.
Make comprehensive reforms to Wisconsin’s Unemployment Insurance (UI) system to increase system solvency, tighten work requirements, and demand more accountability from UI recipients.
Distinctive Place
MMAC Blueprint Goal: “Position the Metro Milwaukee Region as a unique destination for business, talent and commerce.”
Sale of State Properties
Allow the state to sell or lease state properties to private businesses if they believe it is in the best interest of the state, if the asset is competitively offered for purchase, and the proposed sale receives the approval of the legislature’s Joint Committee on Finance. Restrictions are placed on the sale of any state building that was built or acquired with more than 50% private or federal funds.
Allow the state to sell or lease state properties to private businesses if they believe it is in the best interest of the state, if the asset is competitively offered for purchase, and the proposed sale receives the approval of the legislature’s Joint Committee on Finance. Restrictions are placed on the sale of any state building that was built or acquired with more than 50% private or federal funds.
Mass Transit
Increase state funding for transit by 4% and ensure that transit funding remains part of the state’s dedicated Transportation Fund.
Increase state funding for transit by 4% and ensure that transit funding remains part of the state’s dedicated Transportation Fund.
SE WI Major Highway Projects
Maintain original completion schedule for I-94 North-South, Zoo Interchange and Lake Interchange reconstruction projects, despite funding cuts.
Maintain original completion schedule for I-94 North-South, Zoo Interchange and Lake Interchange reconstruction projects, despite funding cuts.
I-94 East-West
Allow DOT to begin preliminary design and engineering work associated with I-94 East- West and delete statutory provisions prohibiting this project from adding additional traffic lanes between Hawley Road and the Stadium Interchange.
Allow DOT to begin preliminary design and engineering work associated with I-94 East- West and delete statutory provisions prohibiting this project from adding additional traffic lanes between Hawley Road and the Stadium Interchange.
