January 11, 2011
I Want To Hear From You On Special Session Bills
By Senator Tim Cullen
The Legislature this week began to hold public hearings on legislation that is the subject of a special session Gov. Scott Walker called to give the economy a boost and help business create jobs.
I want to hear from you on how well you think these bills will stimulate job growth. What are your thoughts on the best ways to help businesses grow and add jobs?
I am especially interested in hearing from business owners, managers, and entrepreneurs on how these bills might help their efforts to expand and add jobs. Here is a summary of the special session legislation:
- Senate Bill 1 would change the laws pertaining to lawsuits when someone is injured by a product or a health care provider. The bill specifically mentions negligence in long-term care facilities, product liability, actions in strict liability, punitive damage awards, and awards for defending a frivolous lawsuit.
- Senate Bill 2 would create a tax credit for contributions to a health savings account. Health savings accounts go hand-in-hand with high-deductible health insurance plans. They allow a person to set aside money for medical care not covered by a high-deductible health insurance plan. Health savings accounts are not taxed federally. This bill would conform state law to the federal provisions, and is intended to encourage more people to use health savings accounts.
- Senate Bill 3 would provide a tax credit for businesses that locate to Wisconsin from another state. The tax credit could be claimed for two consecutive tax years beginning with the tax year the business began operations in Wisconsin.
- Senate Bill 4 would increase by $25 million the maximum limit for economic development credits that the state can hand out. The tax credits are available to businesses that conduct a job creation, capital investment, employee training, or corporate headquarters location or retention project.
- Senate Bill 5 would require a two-thirds vote of each house, known as a supermajority, to pass increases in the income and sales taxes.
- Senate Bill 6 would create the Wisconsin Economic Development Corporation to provide expertise and financial assistance to companies that are investing and creating jobs in Wisconsin and to support new business start-ups and expansion. The Corporation will eventually replace the existing Department of Commerce.
- Senate Bill 7 would create an income and franchise tax credit for small businesses with gross receipts of less than $500,000.
As your state senator, I’m interested in how these bills may be able to help businesses in the 15th Senate District, which includes most of Rock County and the Whitewater area.
I encourage all of my constituents, including business owners and executives, to share your views with me. What is it that state government can do to help businesses grow, prosper, and add jobs?
Is state regulation getting in the way? Does your business need a financial boost that one of the tax credits can supply? Would you consider applying for any of these tax credits? I always appreciate hearing the views of citizens on bills that impact them.
If you would like the details on any of these bills, please let me know.
My e-mail address is Sen.Cullen@legis.wi.gov
, and the toll-free number is 1-800-334-1468.
The mailing address is Sen. Tim Cullen, P.O. Box 7882, Madison, WI 53707-7882.