Senate Bill 456 aims to promote the manufacturing of aviation biofuels in Wisconsin by establishing a tax credit system and authorizing the state to contract public debt for funding a grant related to aviation biofuel projects. The bill allows the Wisconsin Economic Development Corporation (WEDC) to create an aviation biofuel manufacturing zone and certify businesses within this zone to claim income and franchise tax credits, with a total cap of $60 million in credits. Businesses must commit to significant investments and adhere to sourcing requirements for biomass used in production. The bill also mandates that certified businesses submit quarterly reports on their workforce impact and outlines conditions under which tax credits may be revoked.

Additionally, the bill authorizes the state to incur up to $150 million in public debt to fund a grant for an aviation biofuel project, with specific conditions for the use of grant-funded facilities and sourcing of biomass. The legislation emphasizes the importance of aviation biofuel manufacturing for job creation and the forest products industry in Wisconsin. It includes provisions for repayment of the grant if conditions are violated and establishes a framework for the administration of tax credits related to aviation biofuel manufacturing. Key legal language is added to various sections of the statutes to facilitate these initiatives, including the creation of new sections and amendments to existing ones.

Statutes affected:
Bill Text: 25.29(1)(a), 25.29