Last week, I discussed AB 211 and AB 70/SB 47 also known as the Small Business Regulatory Relief Act. AB 211 will provide tax credits for investments into Community Development Financial Institutions or CDFIs. The Small Business Regulatory Relief Act provides more consistency for small business owners and gives them more input in the regulatory process.

This week, Assembly Bill 211 passed the Assembly with overwhelming bipartisan support in a vote of 92-5. The Small Business Regulatory Relief Act also passed in the Assembly on a voice vote. I am happy that Democrats and Republicans are working together to promote job growth in Wisconsin. These bills are a great step toward promoting investment in rural or distressed areas and giving job creators the opportunity to effectively participate in the regulatory process.
 

STATE SMALL BUSINESS CREDIT INITIATIVE

The Governor’s office announced today that Wisconsin’s application for the State Small Business Credit Initiative (SSBCI) has been approved by the U.S. Department of the Treasury.

Small Business growth is vital to our economy. Currently, there is a need for more small business lending. As part of the SSBCI, Wisconsin will receive $22.4 million to support small business owners who are newly expanding or have been expanding.

Similar to AB 211 (CDFI tax credit), the SSBCI can help local small businesses who are looking to grow and support private sector job creation. If you would like to read the article discussing the SSBCI, go to the following link:
http://wispolitics.com/index.iml?Article=247619.