Senate Bill 461
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
Stopped before the full Senate voted
The recommended passing it, but the full Senate never voted on it. To try again, a lawmaker would have to start a new bill.
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Introduced, passed
Jan 14, 2010
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Committee, passed
Approved
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Senate vote, stopped here
Stopped here. The full Senate never voted on it.
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Assembly vote, not reached
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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 pass pursuant to ”
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Terms on this page
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
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
3 senators are its . All 3 are Democrats.
12 more lawmakers .
See all 15 names Hide the names
Authors (3)
- Spencer Coggs · Democrat, Senate
- Jim Holperin · Democrat, Senate
- Pat Kreitlow · Democrat, Senate
Signed on in support (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
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.
Senate Committee on Economic Development vote on an amendment
Passed, 7 to 0 · Feb 17, 2010
No member-by-member record exists for this vote. Committee votes and some older sessions record totals only.
Official motion: “Report adoption of Senate Substitute Amendment 1 recommended by committee on Economic Development, Ayes 7, Noes 0”. Official record · This vote on its own page
Joint Committee on Finance vote on an amendment
Passed, 14 to 1 · Apr 20, 2010
No member-by-member record exists for this vote. Committee votes and some older sessions record totals only.
Official motion: “Report adoption of Senate Substitute Amendment 1 recommended by joint committee on Finance, Ayes 14, 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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Apr 20, 2010
The committee voted to recommend passing it, 14 to 1.
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Apr 20, 2010
“Report adoption of Senate Substitute Amendment 1 recommended by joint committee on Finance, Ayes 14, Noes 1” (the official wording)
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Feb 23, 2010
Sent to the Joint Committee on Finance.
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Feb 17, 2010
The committee voted to recommend passing it, 7 to 0.
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Feb 17, 2010
“Report adoption of Senate Substitute Amendment 1 recommended by committee on Economic Development, Ayes 7, Noes 0” (the official wording)
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Feb 10, 2010
The committee held a public hearing.
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Feb 1, 2010
A state agency sent in its estimate of the cost.
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Jan 14, 2010
Sent to the Senate Committee on Economic Development.
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Jan 14, 2010
Introduced in the Senate.
See the official record, word for word Hide the official record
- Jan 14, 2010 · Senate
Introduced by Senators Coggs, Kreitlow and Holperin;Cosponsored by Representatives Barca, Garthwaite, Zigmunt, Hilgenberg, Radcliffe, Clark, Pasch, Molepske Jr., Ripp, Dexter, Berceau and Sinicki
- Jan 14, 2010 · Senate
Read first time and referred to committee on Economic Development
- Feb 1, 2010 · Senate
Fiscal estimate received
- Feb 1, 2010 · Senate
Fiscal estimate received
- Feb 10, 2010 · Senate
Public hearing held
- Feb 11, 2010 · Senate
Senate substitute amendment 1 offered by Senator Coggs
- Feb 16, 2010 · Senate
Executive action taken
- Feb 17, 2010 · Senate
Report adoption of Senate Substitute Amendment 1 recommended by committee on Economic Development, Ayes 7, Noes 0
- Feb 17, 2010 · Senate
Report passage as amended recommended by committee on Economic Development, Ayes 7, Noes 0
- Feb 17, 2010 · Senate
Available for scheduling
- Feb 23, 2010 · Senate
Referred to joint committee on Finance by committee on Senate Organization pursuant to Senate Rule 41 (1)(e)
- Apr 19, 2010 · Senate
Executive action taken
- Apr 20, 2010 · Senate
Report adoption of Senate Substitute Amendment 1 recommended by joint committee on Finance, Ayes 14, Noes 1
- Apr 20, 2010 · Senate
Report passage as amended recommended by joint committee on Finance, Ayes 14, Noes 1
- Apr 20, 2010 · Senate
Available for scheduling
- Apr 28, 2010 · Senate
Failed to pass pursuant to Senate Joint Resolution 1
Terms on this page
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
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
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
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