Wisconsin Senate Bill SB382

Wisconsin 2025-2026 Regular Session

• Introduced: 7/28/25
• Refer: 7/28/25

Caption

Modifications to the historic rehabilitation tax credit. (FE)

Impact

The proposed modifications in SB382 are expected to have a significant impact on state laws regarding tax incentives for historic rehabilitation. By refreshing the tax credit framework, the bill is likely to attract more participation from property owners who may have previously been deterred by complex regulations or insufficient benefits. The revitalization of historic properties could lead to increased property values, higher tourism, and job creation in restoration and related industries, ultimately contributing to local economic development.

Summary

SB382, titled 'Modifications to the Historic Rehabilitation Tax Credit', seeks to enhance the existing tax incentive program aimed at encouraging the rehabilitation of historic properties. The bill is designed to modify existing provisions to make it more accessible and appealing to property owners and developers interested in restoring historic buildings. This initiative not only focuses on preservation but also aims to stimulate local economies by promoting investment in historically significant areas, thereby adding to the cultural and historical fabric of the communities involved.

Contention

Notable points of contention surrounding SB382 include discussions about the adequacy of the proposed tax credits and whether they provide enough motivation for property owners to pursue rehabilitation projects. Some stakeholders argue that while the bill offers modifications, there remains a concern that the financial incentives may not sufficiently cover the costs associated with maintaining and restoring historic properties. Additionally, there is an ongoing debate regarding the balance of preserving historic integrity while fostering modern development, which can sometimes conflict with preservation efforts.