Assembly Bill 90 Small Business Credit Now

Wisconsin law makers will be discussing legislation (Assembly Bill 90) designed to assist small business owners to compensate for ongoing problems obtaining financing in current tight credit markets. Assembly Bill 90 facilitates financing by allowing small business to use existing State economic tax credits up front as equity in the financing package.

Assembly Bill 90 was introduced on 04/12/11 by representatives Clark, Barca, Hintz, Fields, Roys, Bewley, Staskunas and is co-sponsored by senators Lassa, Schultz, Holperin, Taylor. Assembly Bill 90 allows the department of commerce to award a grant to a business who wishes to secure financing to make expenditiures that would qualify for eligible tax credits. Businesses who receive a grant to secure financing for making an expenditure that would qualify for a tax credit, may not claim a credit for that expenditure.

The public hearing to discuss Assembly Bill 90 is scheduled at 10am on Tuesday October 4, 2011 in room 328 NW in the Wisconsin State Capitol. The Wisconsin State Capitol is located on 2 E Main Street, Madison, Wisconsin 53702. Attending business owners could provide testimony to the committee encouraging the passage of Assembly Bill 90.