Cooperative Network President and CEO Bill Oemichen commended Governor Doyle for bills signed into law today at a farm in north central Wisconsin. Three of the bills signed by the governor enjoyed the support of Cooperative Network during the legislative session, and were among the bills that received strong bi-partisan support in both houses of the Legislature.
The bills supported by Cooperative Network are:
· AB 756, which extends the dairy farm investment tax credit for tax years 2010 and 2011 and expands the “pocket value” for claimants to $75,000. Cooperative Network was the primary originator and promoter of the prior dairy investment tax credit, which was in place from 2004-2009. More than $500 million in dairy farm facility modernization has taken place as a result of the credit, resulting in increased cow numbers, greater milk production, and a more vibrant and competitive dairy industry in Wisconsin.
· AB 757, which creates a food processing modernization tax credit for food processing and distribution businesses.
· SB 527, which amends the agricultural producer security (APS) program to provide greater flexibility and lessen the cost of compliance for some contractors who are participants in the program.
Oemichen stated, “Cooperative Network is very proud of the positive financial impact the original dairy farm investment tax credit has had on the dairy industry and believes the second installment will have a continued and significant positive impact on the modernization of our dairy industry.”
Source: Cooperative Network