Legislators are seeking to close what they say is a tax loophole for industry. It's a property tax exemption granted to a paper board manufacturer by the state Tax Appeals Commission, and upheld in circuit court. Green Bay Democrat, Senator Dave Hansen , says a compromise could not be reached with the Wisconsin Paper Council, so lawmakers have drafted a bill to close the loophole. "Every attempt we're making is to be fair to everybody involved," says Hansen. "The decision was not fair to the property taxpayers of the state." Republican Senator Rob Cowles of Green Bay says the so called Newark Decision is already hitting property taxpayers. "The longer we wait to clean this situation up, longer those local communities are going to have chaotic situations," says Kohls, noting that in his legislative district, the city and school district in DePere had to return money to the state because a paper company in the city was granted the exemption. Hansen, Cowles and Republican Representative Dean Kaufert of Neenah are sponsoring the bill . Without it, they believe some $2 billion of industrial property could potentially become tax exempt, leaving homeowners on the hook to make up the difference.

AUDIO: Hansen, Cowles, Kaufert (13:00 MP3)

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