Assembly Bill 642
An income and franchise tax credit for a qualified equity investment in a qualified community development entity, providing an exemption from emergency rule procedures, and requiring the exercise of rule-making authority
Topics: Commerce, Department of, Franchise: Taxation, Income tax: Credit
Passed the Assembly, then stopped
The Assembly passed it on Feb 25, 2010, but the Senate never voted on it. A bill has to . To try again, a lawmaker would have to start a new bill.
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Introduced, passed
Jan 4, 2010
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Committee, passed
Approved
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Assembly vote, passed
Passed Feb 25, 2010
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Senate vote, stopped here
Stopped here. The Senate never voted on it.
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Governor, not reached
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Law, not reached
Latest entry in the official record, Apr 28, 2010: “Failed to concur in pursuant to ”
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Terms on this page
Second chamber's vote
A bill has to pass both the Assembly and the Senate in the same form before it goes to the governor.
Official term: Concurrence. More in the glossary
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1. More in the glossary
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis. More in the glossary
Author
A lawmaker who formally puts a bill forward. The text itself is drafted by the Legislative Reference Bureau.
Official term: Author, coauthor. More in the glossary
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor. More in the glossary
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate. More in the glossary
Roll call
A vote where each lawmaker's yes or no is recorded by name.
Official term: Roll call vote. More in the glossary
What it would have done
Summary by the , the Legislature's nonpartisan drafting office. It's their wording, not ours.
Under federal law, the New Markets Tax Credit Program permits federal taxpayers to receive a credit against federal income taxes for making investments in qualified community development entities (QCDE). Federal law defines a QCDE as an entity with the primary mission of serving or providing investment capital for low-income communities or low-income persons that has been certified by the secretary of the Internal Revenue Service.
This bill authorizes the Department of Commerce (Commerce) to certify an individual who applies to Commerce, has made an investment in a QCDE, and is eligible to receive the federal New Markets Tax Credit to receive a credit against state income and franchise taxes and against license fees paid by insurers. Prior to certification, Commerce must verify that the person has made an investment in a QCDE with the primary mission of serving or providing investment capital for low-income communities or low-income persons in this state. Commerce must annually verify that the person continues to hold the investment in any year the person seeks to claim the credit.
Read the full summary Show less
The credit may be claimed for seven consecutive taxable years beginning with the taxable year in which the taxpayer makes an investment in a QCDE. The amount of the credit that a taxpayer may claim is equal to the amount of the taxpayer's investment multiplied by the following percentages:
1. For the first three taxable years, 5 percent.
2. For the next four taxable years, 6 percent.
Who's behind it
12 representatives are its . 11 are Democrats and 1 is a Republican.
3 more lawmakers .
See all 15 names Hide the names
Authors (12)
- Peter Barca · Democrat, Assembly
- Terese Berceau · Democrat, Assembly
- Fred Clark · Democrat, Assembly
- Kristen Dexter · Democrat, Assembly
- Phil Garthwaite · Democrat, Assembly
- Steve Hilgenberg · Democrat, Assembly
- Louis Molepske Jr. · Democrat, Assembly
- Sandy Pasch · Democrat, Assembly
- Mark Radcliffe · Democrat, Assembly
- Keith Ripp · Republican, Assembly
- Christine Sinicki · Democrat, Assembly
- Ted Zigmunt · Democrat, Assembly
Signed on in support (3)
- Spencer Coggs · Democrat, Senate
- Jim Holperin · Democrat, Senate
- Pat Kreitlow · Democrat, Senate
What it would cost
State agencies filed a . Each opens as a PDF from the Legislature.
Versions and amendments
Every text the Legislature printed for this bill, including proposed changes. Each opens on the Legislature's site.
How lawmakers voted
There were 2 votes on this bill.
Assembly Committee on Jobs vote on an amendment
Passed, 7 to 5 · Feb 23, 2010
No member-by-member record exists for this vote. Committee votes and some older sessions record totals only.
Official motion: “Report Assembly Substitute Amendment 1 adoption recommended by committee on Jobs, the Economy and Small Business, Ayes 7, Noes 5”. Official record · This vote on its own page
Assembly vote to pass it
Passed, 93 to 1 · Feb 25, 2010
No member-by-member record exists for this vote. Committee votes and some older sessions record totals only.
Official motion: “Read a third time and passed, Ayes 93, Noes 1”. Official record · This vote on its own page
What happened
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Apr 28, 2010
The session ended, and the bill died with it.
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Mar 1, 2010
Sent to the Senate Committee on Economic Development.
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Feb 26, 2010
The Senate received it.
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Feb 25, 2010
The Assembly passed it, 93 to 1.
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Feb 25, 2010
The Assembly adopted it.
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Feb 23, 2010
Sent to the Assembly Committee on Rules.
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Feb 23, 2010
The committee voted to recommend passing it, 11 to 1.
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Feb 1, 2010
A state agency sent in its estimate of the cost.
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Jan 5, 2010
The committee held a public hearing.
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Jan 4, 2010
Sent to the Assembly Committee on Jobs, the Economy and Small Business.
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Jan 4, 2010
Introduced in the Assembly.
See the official record, word for word Hide the official record
- Jan 4, 2010 · Assembly
Introduced by Representatives Barca, Garthwaite, Zigmunt, Hilgenberg, Radcliffe, Clark, Pasch, Molepske Jr., Ripp, Dexter, Berceau and Sinicki;Cosponsored by Senators Coggs, Kreitlow and Holperin
- Jan 4, 2010 · Assembly
Read first time and referred to committee on Jobs, the Economy and Small Business
- Jan 5, 2010 · Assembly
Public hearing held
- Feb 1, 2010 · Assembly
Fiscal estimate received
- Feb 1, 2010 · Assembly
Fiscal estimate received
- Feb 9, 2010 · Assembly
Assembly substitute amendment 1 offered by Representative Barca
- Feb 17, 2010 · Assembly
Executive action taken
- Feb 23, 2010 · Assembly
Report Assembly Substitute Amendment 1 adoption recommended by committee on Jobs, the Economy and Small Business, Ayes 7, Noes 5
- Feb 23, 2010 · Assembly
Report passage as amended recommended by committee on Jobs, the Economy and Small Business, Ayes 11, Noes 1
- Feb 23, 2010 · Assembly
Referred to committee on Rules
- Feb 23, 2010 · Assembly
Placed on calendar 2-25-2010 by committee on Rules
- Feb 25, 2010 · Assembly
Read a second time
- Feb 25, 2010 · Assembly
Assembly substitute amendment 1 adopted
- Feb 25, 2010 · Assembly
Ordered to a third reading
- Feb 25, 2010 · Assembly
Rules suspended
- Feb 25, 2010 · Assembly
Read a third time and passed, Ayes 93, Noes 1
- Feb 25, 2010 · Assembly
Ordered immediately messaged
- Feb 26, 2010 · Senate
Received from Assembly
- Mar 1, 2010 · Senate
Read first time and referred to committee on Economic Development
- Apr 28, 2010 · Senate
Failed to concur in pursuant to Senate Joint Resolution 1
Terms on this page
Second chamber's vote
A bill has to pass both the Assembly and the Senate in the same form before it goes to the governor.
Official term: Concurrence. More in the glossary
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1. More in the glossary
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis. More in the glossary
Author
A lawmaker who formally puts a bill forward. The text itself is drafted by the Legislative Reference Bureau.
Official term: Author, coauthor. More in the glossary
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor. More in the glossary
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate. More in the glossary
Roll call
A vote where each lawmaker's yes or no is recorded by name.
Official term: Roll call vote. More in the glossary
From the Wisconsin Legislature's official record, checked Sep 15, 2026. See the source
Second chamber's vote
A bill has to pass both the Assembly and the Senate in the same form before it goes to the governor.
Official term: Concurrence
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate
Roll call
A vote where each lawmaker's yes or no is recorded by name.
Official term: Roll call vote