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Capitol Notes
WI: Weekly Political and Legislative Update |
TO: Clients/Friends of Capitol Consultants, Inc./Wimmer & Company, S.C.
FROM: Capitol Consultants, Inc.
& Wimmer Company, S.C.
DATE: February 4, 2011
SUBJECT: Weekly Political and Legislative Update
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Special Session Update - Three More Bills Heading for Governor's Signature
This week, Governor Walker continued to have success pushing three more bills through the legislature. Both the Assembly and the Senate passed three more key pieces of legislation that the Governor called for as part of his Special Session on Job Creation.
The bills that passed create tax credits for small business, create the Wisconsin Economic Development Corporation and provide an exemption from water quality standards for certain wetlands in Brown County.
Special Session Assembly/Senate Bill 6 (Wisconsin Economic Development Corp.)
SSAB6/SSSB6; This bill would create the Wisconsin Economic Development Corporation that would assume the responsibilities of and more sharply focus the role of the State's Department of Commerce. The WEDC would be governed by a 12 member board appointed by and led by the governor of the State of Wisconsin.
Special Session Assembly/Senate Bill 7 (Tax Credit for Small Businesses)
SSAB7/SSSB7; This bill creates an income and franchise tax credit for small businesses. Under the bill, a business that has less than $500,000 in gross receipts in the taxable year
may claim as a credit a percentage of the taxpayer's tax liability based on the amount
of the gross receipts that exceed $250,000. If the business has no more than $250,000
in gross receipts in the taxable year, the business may claim a credit equal to 15
percent of its tax liability. Under the bill, the taxpayer does not receive a refund, but
may apply any remaining credit amounts to subsequent taxable years.
Special Session Assembly/Senate Bill 10 (Exempts Brown County Wetlands)
This bill provides an exemption from water quality standards for wetlands and from certain
other regulatory provisions concerning water quality and surface water use that apply to a wetland area in Brown County.
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Walker Gives his First State of the State
On Tuesday with a blizzard going on outside, Wisconsin's 45th Governor, Scott Walker, gave his first State of the State to a joint session of the legislature where members of the State Senate, State Assembly, State Supreme Court Justices and the State's Constitutional Officers were in attendance.
In his 31 minute speech, the Governor declared that the state faces "economic and fiscal crisis in this state that demands our immediate attention." During his speech, the Governor spent most of the speech focusing on the financial situation that is facing the state in the current biennium and heading into the next one that starts on July 1.
Walker said the state is facing a budget shortfall of more than $200 million for the current fiscal year, which ends June 30 and a $3 billion shortfall for the next two-year budget cycle, which starts July 1.
Walker's speech came a day after a Legislative Fiscal Bureau report that said the state budget shortfall for this fiscal year will total at least $78 million and could rise to as much as $336.5 million, depending on when the state pays off two massive bills that it currently owes (www.jsonline.com)
During the speech, Walker also said that he would introduce a budget repair bill for this fiscal year and a 2011-'13 budget bill that will avoid the quick fixes of past state leaders such as raiding funds, stepping up borrowing and relying on short-term federal aid (www.jsonline.com). Walker stated during the speech that "it is time to return to our founding principles yet again. We can no longer afford to turn a blind eye to the tough economic decisions ahead." After the speech several Democrats said Walker gave few specifics about how he would actually cut spending. Milwaukee State Senator Lena Taylor, who once ran against Walker for Milwaukee County Executive, said, "There were not enough details in what the governor was providing. It took me back to rah-rah-rah and no details and generalities."
To view Governor Walker's first of the State of the State speech, click here: http://doamedia.wi.gov/main/Viewer/?peid=a1610d0d65634d15ac3fec2ce9cd3b00
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The Week Ahead
Feb 8 Tue
| Financial Institutions and Rural Issues (Senate)
9:00 AM
300 Southeast | Items: Bildsten, Pete
| Public Hearing |
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Feb 8 Tue
| Economic Development and Veterans and Military Affairs (Senate) (Executive Session)
9:00 AM
330 Southwest | Items: January 2011 Special Session Senate Bill 8
| Executive Session |
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Feb 8 Tue
| Financial Institutions and Rural Issues (Senate) (Executive Session)
9:05 AM
300 Southeast | Items: Bildsten, Pete
| Executive Session |
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Feb 9 Wed
| Administrative Rules (Joint)
10:00 AM
412 East | Items: PSC 128 (CR 10-057)
| Public Hearing |
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Feb 9 Wed
| Rural Economic Development and Rural Affairs (Assembly)
10:00 AM
225 Northwest | Items: Assembly Bill 2
| Public Hearing |
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| Fundraiser for Sen. Scott Fitzgerald
2/10/2011
5 p.m.
Hi-way Harry's Steakhouse,
710 Glover Lane,
Johnson Creek.
Please Join Senate Majority Leader Scott Fitzgerald
5:00 to 6:30 PM Cocktail Reception
6:30 PM Dinner Seating
$250 per person for cocktail reception only
$1,000 per person for reception and dinner
$2,500 for table sponsorship and three people at reception and dinner
RSVP's required for dinner
Please RSVP to Judi at jrhodes@wisgop.org or 608-345-3780 |
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