Hearings scheduled for two key legislative study committees
During the summer and fall of every even-numbered year following the end of each legislative session, the Legislature selects a number of topics to be studied by special study committees comprised of lawmakers and citizens with expertise in a committee’s given subject matter. The topics examined by these special Legislative Council study committees often focus on issues that were difficult to resolve during the proceeding legislative session. The committees are charged with making legislative recommendations to be considered by the Legislature in the next session.
This year, the following two study committees were created that are of great interest to WEDA and our members:
- Study Committee on Property Tax Assessment Practices (better know as the Dark Store study committee)
- Committee Scope: The Study Committee is directed to review current property tax assessment practices, including the review of statutory, administrative, and judicial directives on assessment practices and the consistency of assessment practices throughout the state. Following its review, the committee shall recommend legislation to revise and clarify property tax assessment practices, including recommendations regarding the role of comparable sales and market segments in assessments and the assessment of leased property.
- WEDA Interest: WEDA supports legislation the close Wisconsin’s Dark Store property tax loophole.
- Public Hearing: The first hearing of the committee, which is expected to meet once a month through the end of the year, is scheduled for August 7, 2018 at 10:00 a.m. in the State Capitol.
- Study Committee on the Investment and Use of the School Trust Funds
- Committee Scope: The Study Committee is directed to review the statutes governing the investment of the trust funds administered by the Board of Commissioners of Public Lands (BCPL), including the loan programs administered by BCPL. The Study Committee shall assess whether current statutes adequately ensure the effective investment and appropriate use of the proceeds of the funds, and recommend legislation for necessary changes.
- WEDA Interest: WEDA opposes any effort to eliminate the State Trust Fund Loan Program, which is funded by Wisconsin’s school trust funds, and has helped finance more than $1 billion in infrastructure and economic development projects over the last decade.
- Public Hearing: The first hearing of the committee, which is expected to meet once a month through the end of the year, is scheduled for August 16, 2018 at 10:00 a.m. in the State Capitol.
WEDA will continue to monitor and attend all hearings held by both committees. We are also working with lawmakers to secure an opportunity to testify before each committee on economic development matters related to each issue area.