The Wisconsin State Assembly narrowly passed its version of the Taxpayer Protection Act early this morning. Assembly Substitute Amendment 5, which passed 50-48 provides for a state cap on the general fund to 90% of the average growth in personal income over the previous three years. Segregated accounts, such as the transportation fund, are exempt from the Assembly version.

Based on our read of the Act, WEDA through its legislative efforts has been successful in protecting its members interests in regard to the three issues of: TIF, local bonding, equitable growth factor. We will keep WEDA members informed as we learn more details about the act.

Senator Glenn Grothman (R-West Bend) plans to hold a public hearing on AJR 77, as passed by the Assembly on Monday and Senate Majority Leader Dale Schultz has indicated that whatever version comes out of Sen. Grothman's committee, will be taken up for a vote on Wednesday.