The Wisconsin Senate on Tuesday passed a measure providing additional financial incentives to keep Thermo Fisher Scientific in Middleton, along with its roughly 1,800 employees, the Wisconsin State Journal reports.
A bipartisan group of state lawmakers is seeking an exception to state law allowing the city to temporarily exceed the state-mandated cap on the amount of property value a municipality can have in tax incremental financing (TIF) districts. The cap is currently 12% of the municipality’s total equalized value.
The Senate approved the bill with a 32-1 vote without any discussion. The measure, if passed by the Assembly, heads to Gov. Tony Evers’ office.
