Assembly Bill 601
The angel investment and early stage seed investment tax credit programs
Topics: Business, Corporation: Taxation, Economic Development Corporation, Wisconsin, Franchise: Taxation, Income tax: Credit, Revenue, Department of
Stopped before the full Assembly voted
The recommended passing it, but the full Assembly never voted on it. To try again, a lawmaker would have to start a new bill.
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Introduced, passed
Feb 21, 2012
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Committee, passed
Approved
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Assembly vote, stopped here
Stopped here. The full Assembly never voted on it.
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Senate vote, not reached
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Governor, not reached
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Law, not reached
Latest entry in the official record, Mar 23, 2012: “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 current law, the angel investment tax credit program allows a taxpayer to claim a tax credit that equals 25 percent of a bona fide angel investment made directly in a qualified new business venture (QNBV) for the tax year. Current law provides that a QNBV is a business that is certified by the Wisconsin Economic Development Corporation (WEDC). Under current law, WEDC may certify a business as a QNBV if the business meets certain conditions, including being headquartered in this state, employing at least 51 percent of its employees in this state, and having less than 100 employees. Under this bill, in addition to the existing certification conditions, to be certified as a QNBV a business must agree to stay in this state for at least three years following the receipt of a bona fide angel investment and must agree to pay a penalty to WEDC if the business relocates outside of this state within three years of receiving a bona fide angel investment. Additionally, the bill provides that certain conditions that a business must satisfy to be certified as a QNBV, such as having less than 100 employees and not having operated in Wisconsin for more than ten consecutive years, apply only to initial certifications.
Under current law, a person who claims a tax credit for an early stage seed or angel investment must hold the investment for at least three years. If the person does not hold the investment for at least three years, the person must pay to the Department of Revenue (DOR) the amount of the credit that the person received related to the investment. Under this bill, a person that holds such an investment for less than three years does not have to repay the tax credit to DOR, if the person's investment becomes worthless, as determined by WEDC, or if a bona fide liquidity event occurs, as determined by WEDC.
Read the full summary Show less
Under current law, the maximum amount of angel investment credits that may be claimed by all claimants for all taxable years combined is $47,500,000. The bill eliminates this limitation.
Who's behind it
3 representatives are its . All 3 are Republicans.
2 more lawmakers .
See all 5 names Hide the names
Authors (3)
- John Klenke · Republican, Assembly
- Mike Kuglitsch · Republican, Assembly
- Gary Tauchen · Republican, Assembly
Signed on in support (2)
- Alberta Darling · Republican, Senate
- Joe Leibham · Republican, 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, 9 to 1 · Mar 2, 2012
No member-by-member record exists for this vote. Committee votes and some older sessions record totals only.
Official motion: “Report Assembly Amendment 1 adoption recommended by committee on Jobs, Economy and Small Business, Ayes 9, Noes 1”. Official record · This vote on its own page
Assembly Committee on Jobs vote to recommend it
Passed, 7 to 3 · Mar 2, 2012
No member-by-member record exists for this vote. Committee votes and some older sessions record totals only.
Official motion: “Report passage as amended recommended by committee on Jobs, Economy and Small Business, Ayes 7, Noes 3”. Official record · This vote on its own page
What happened
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Mar 23, 2012
The session ended, and the bill died with it.
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Mar 6, 2012
A state agency sent in its estimate of the cost.
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Mar 2, 2012
Sent to the Assembly Committee on Rules.
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Mar 2, 2012
The committee voted to recommend passing it, 7 to 3.
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Feb 28, 2012
The committee held a public hearing.
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Feb 27, 2012
A state agency sent in its estimate of the cost.
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Feb 21, 2012
Sent to the Assembly Committee on Jobs, Economy and Small Business.
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Feb 21, 2012
Introduced in the Assembly.
See the official record, word for word Hide the official record
- Feb 21, 2012 · Assembly
Introduced by Representatives Kuglitsch, Klenke and Tauchen;Cosponsored by Senators Leibham and Darling
- Feb 21, 2012 · Assembly
Read first time and referred to committee on Jobs, Economy and Small Business
- Feb 27, 2012 · Assembly
Fiscal estimate received
- Feb 28, 2012 · Assembly
Public hearing held
- Feb 29, 2012 · Assembly
Executive action taken
- Feb 29, 2012 · Assembly
Assembly amendment 1 offered by committee on Jobs, Economy and Small Business
- Mar 2, 2012 · Assembly
Report Assembly Amendment 1 adoption recommended by committee on Jobs, Economy and Small Business, Ayes 9, Noes 1
- Mar 2, 2012 · Assembly
Report passage as amended recommended by committee on Jobs, Economy and Small Business, Ayes 7, Noes 3
- Mar 2, 2012 · Assembly
Referred to committee on Rules
- Mar 2, 2012 · Assembly
Placed on calendar 3-6-2012 by committee on Rules
- Mar 2, 2012 · Assembly
Assembly amendment 2 offered by Representative Klenke
- Mar 6, 2012 · Assembly
Fiscal estimate received
- Mar 6, 2012 · Assembly
Made a special order of business at 11:35 A.M. on 3-13-2012 pursuant to Assembly Resolution 22
- Mar 15, 2012 · Assembly
Laid on the table
- Mar 23, 2012 · Assembly
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