Senate Bill 463
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
Became law
The governor signed it on Apr 6, 2012. It's .
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Introduced, passed
Feb 13, 2012
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Committee, passed
Approved
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Senate vote, passed
Passed Mar 6, 2012
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Assembly vote, passed
Passed 90 to 3
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Governor, passed
Signed
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Law, here now
2011 Wisconsin Act 213
Latest entry in the official record, Apr 10, 2012: “Published 4-19-2012”
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Terms on this page
Wisconsin Act
The number a bill gets when it becomes law, like 2025 Wisconsin Act 12.
Official term: Act. 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 does
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
2 senators are its . All 2 are Republicans.
3 more lawmakers .
See all 5 names Hide the names
Authors (2)
- Alberta Darling · Republican, Senate
- Joe Leibham · Republican, Senate
Signed on in support (3)
- John Klenke · Republican, Assembly
- Mike Kuglitsch · Republican, Assembly
- Gary Tauchen · Republican, 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 7 votes on this bill.
Senate Committee on Economic Development and Veterans and Military Affairs vote to recommend it
Passed, 7 to 0 · Feb 23, 2012
No member-by-member record exists for this vote. Committee votes and some older sessions record totals only.
Official motion: “Report passage recommended by committee on Economic Development and Veterans and Military Affairs, Ayes 7, Noes 0”. Official record · This vote on its own page
Senate vote
Passed, 5 to 0 · Mar 5, 2012
No member-by-member record exists for this vote. Committee votes and some older sessions record totals only.
Official motion: “Referred to joint committee on Finance by committee on Senate Organization, pursuant to Senate Rule 41 (1)(e), Ayes 5, Noes 0”. Official record · This vote on its own page
Senate vote on an amendment
Passed, 17 to 16 · Mar 6, 2012
No member-by-member record exists for this vote. Committee votes and some older sessions record totals only.
Official motion: “Point of order that Senate amendment 3 not germane well taken, Ayes 17, Noes 16”. Official record · This vote on its own page
Senate vote to pass it
Passed, 32 to 1 · Mar 6, 2012
See how each of the 33 senators voted Hide the names
D: Democrat, R: Republican
Yes (32)
- Alberta Darling (R, 8)
- Bob Wirch (D, 22)
- Chris Larson (D, 7)
- Dale Schultz (R, 17)
- Dave Hansen (D, 30)
- Frank G. Lasee (R, 1)
- Fred A. Risser (D, 26)
- Glenn Grothman (R, 20)
- Jennifer Shilling (D, 32)
- Jessica King (D, 18)
- Jim Holperin (D, 12)
- Joe Leibham (R, 9)
- Jon Erpenbach (D, 27)
- Julie M. Lassa (D, 24)
- Kathleen Vinehout (D, 31)
- Leah Vukmir (R, 5)
- Lena Taylor (D, 4)
- Luther S. Olsen (R, 14)
- Mark Miller (D, 16)
- Michael Ellis (R, 19)
- Neal Kedzie (R, 11)
- Pam Galloway (R, 29)
- Rich Zipperer (R, 33)
- Rob Cowles (R, 2)
- Robert Jauch (D, 25)
- Scott L. Fitzgerald (R, 13)
- Sheila Harsdorf (R, 10)
- Spencer Coggs (D, 6)
- Terry Moulton (R, 23)
- Tim Carpenter (D, 3)
- Timothy Cullen (D, 15)
- Van Wanggaard (R, 21)
No (1)
- Mary Lazich (R, 28)
Official motion: “Read a third time and passed, Ayes 32, Noes 1”. Official record · This vote on its own page
Assembly vote to pass it
Passed, 90 to 3 · Mar 15, 2012 · 6 didn't vote
See how each of the 99 representatives voted Hide the names
D: Democrat, I: Independent, R: Republican
Yes (90)
- Alvin Ott (R, 3)
- Amy Loudenbeck (R, 31)
- Amy Sue Vruwink (D, 70)
- André Jacque (R, 1)
- Andy Jorgensen (D, 43)
- Bill Kramer (R, 97)
- Brett Hulsey (D, 78)
- Chad Weininger (R, 4)
- Chris Danou (D, 92)
- Chris Kapenga (R, 33)
- Chris Taylor (D, 76)
- Christine Sinicki (D, 20)
- Cory Mason (D, 66)
- Dale Kooyenga (R, 5)
- Dan Knodl (R, 24)
- Dan Meyer (R, 34)
- Daniel LeMahieu (R, 59)
- David Craig (R, 28)
- David Cullen (D, 13)
- Dean Kaufert (R, 53)
- Dean Knudson (R, 30)
- Don Pridemore (R, 22)
- Donna Seidel (D, 85)
- Duey Stroebel (R, 20)
- Edward Brooks (R, 50)
- Elizabeth Coggs (D, 10)
- Erik Severson (R, 28)
- Evan Wynn (R, 43)
- Fred Clark (D, 81)
- Frederick Kessler (D, 12)
- Garey Bies (R, 1)
- Gary Hebl (D, 46)
- Gary Tauchen (R, 6)
- Gordon Hintz (D, 54)
- Howard Marklein (R, 17)
- Janet Bewley (D, 25)
- Janis Ringhand (D, 15)
- Jeff Fitzgerald (R, 39)
- Jeff Mursau (R, 36)
- Jeffrey Stone (R, 82)
- Jeremy Thiesfeldt (R, 52)
- Jerry Petrowski (R, 29)
- Jill Billings (D, 95)
- Jim Ott (R, 23)
- Jim Steineke (R, 5)
- JoCasta Zamarripa (D, 8)
- Joan Ballweg (R, 14)
- Joe Knilans (R, 44)
- Joel Kleefisch (R, 38)
- John Klenke (R, 88)
- John Nygren (R, 89)
- Jon Richards (D, 19)
- Josh Zepnick (D, 9)
- Karl Van Roy (R, 90)
- Kathleen Bernier (R, 23)
- Keith Ripp (R, 42)
- Kelda Roys (D, 26)
- Kevin Petersen (R, 57)
- Lee Nerison (R, 96)
- Leon Young (D, 16)
- Louis Molepske Jr. (D, 71)
- Mark Honadel (R, 21)
- Mark Pocan (D, 78)
- Mark Radcliffe (D, 92)
- Michelle Litjens (R, 56)
- Mike Endsley (R, 26)
- Mike Kuglitsch (R, 84)
- Nick Milroy (D, 73)
- Pat Strachota (R, 58)
- Paul F. Farrow (R, 33)
- Penny Bernard Schaber (D, 57)
- Peter Barca (D, 64)
- Richard Spanbauer (R, 53)
- Robert Turner (D, 61)
- Robin Vos (R, 33)
- Roger Rivard (R, 75)
- Samantha Kerkman (R, 61)
- Sandy Pasch (D, 10)
- Scott Krug (R, 72)
- Scott Suder (R, 69)
- Sondy Pope (D, 80)
- Steve Doyle (D, 94)
- Steve Kestell (R, 27)
- Steve Nass (R, 11)
- Thomas Larson (R, 67)
- Thomas Tiffany (R, 12)
- Tony Staskunas (D, 15)
- Travis Tranel (R, 49)
- Tyler August (R, 31)
- Warren Petryk (R, 93)
No (3)
- Barbara Toles (D, 17)
- Bob Ziegelbauer (I, 25)
- Margaret Krusick (D, 7)
Didn't vote (6)
- Jason Fields (D, 11)
- John Murtha (R, 29)
- John Steinbrink (D, 65)
- Mary Williams (R, 87)
- Tamara Grigsby (D, 18)
- Terese Berceau (D, 77)
Official motion: “Read a third time and concurred in, Ayes 90, Noes 3”. Official record · This vote on its own page
Assembly vote on an amendment
Passed, 59 to 34 · Mar 15, 2012
No member-by-member record exists for this vote. Committee votes and some older sessions record totals only.
Official motion: “Assembly substitute amendment 1 laid on table, Ayes 59, Noes 34”. Official record · This vote on its own page
Assembly vote on an amendment
Passed, 59 to 34 · Mar 15, 2012
No member-by-member record exists for this vote. Committee votes and some older sessions record totals only.
Official motion: “Assembly substitute amendment 2 laid on table, Ayes 59, Noes 34”. Official record · This vote on its own page
What happened
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Apr 10, 2012
The new law was published.
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Apr 6, 2012
The governor signed it. It became 2011 Wisconsin Act 213.
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Apr 4, 2012
Sent to the governor.
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Mar 15, 2012
The Assembly passed it too, 90 to 3.
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Mar 6, 2012
Sent to the Assembly Committee on Rules.
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Mar 6, 2012
The Assembly received it.
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Mar 6, 2012
The Senate passed it, 32 to 1.
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Mar 6, 2012
The Senate adopted it.
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Mar 6, 2012
“Point of order that Senate amendment 3 not germane well taken, Ayes 17, Noes 16” (the official wording)
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Mar 6, 2012
The Senate adopted it.
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Mar 5, 2012
“Withdrawn from joint committee on Finance and made Available for Scheduling by committee on Senate Organization, pursuant to Senate Rule 41 (1)(e), Ayes 5, Noes 0” (the official wording)
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Mar 5, 2012
Sent to the Joint Committee on Finance.
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Mar 1, 2012
A state agency sent in its estimate of the cost.
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Feb 23, 2012
The committee voted to recommend passing it, 7 to 0.
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Feb 16, 2012
The committee held a public hearing.
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Feb 14, 2012
A state agency sent in its estimate of the cost.
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Feb 13, 2012
Sent to the Senate Committee on Economic Development and Veterans and Military Affairs.
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Feb 13, 2012
Introduced in the Senate.
See the official record, word for word Hide the official record
- Feb 13, 2012 · Senate
Introduced by Senators Leibham and Darling;Cosponsored by Representatives Kuglitsch, Klenke and Tauchen
- Feb 13, 2012 · Senate
Read first time and referred to committee on Economic Development and Veterans and Military Affairs
- Feb 14, 2012 · Senate
Fiscal estimate received
- Feb 16, 2012 · Senate
Public hearing held
- Feb 22, 2012 · Senate
Executive action taken
- Feb 23, 2012 · Senate
Report passage recommended by committee on Economic Development and Veterans and Military Affairs, Ayes 7, Noes 0
- Feb 23, 2012 · Senate
Available for scheduling
- Feb 23, 2012 · Senate
Senate amendment 1 offered by Senator Leibham
- Mar 1, 2012 · Senate
Fiscal estimate received
- Mar 2, 2012 · Senate
Senate amendment 2 offered by Senator Leibham
- Mar 5, 2012 · Senate
Referred to joint committee on Finance by committee on Senate Organization, pursuant to Senate Rule 41 (1)(e), Ayes 5, Noes 0
- Mar 5, 2012 · Senate
Withdrawn from joint committee on Finance and made Available for Scheduling by committee on Senate Organization, pursuant to Senate Rule 41 (1)(e), Ayes 5, Noes 0
- Mar 5, 2012 · Senate
Placed on calendar 3-6-2012 pursuant to Senate Rule 18(1)
- Mar 6, 2012 · Senate
Read a second time
- Mar 6, 2012 · Senate
Senate amendment 1 adopted
- Mar 6, 2012 · Senate
Senate amendment 2 withdrawn and returned to author
- Mar 6, 2012 · Senate
Senate amendment 3 offered by Senators Hansen, Taylor, Holperin, C. Larson, King, Wirch, Risser, Miller, Lassa and Vinehout
- Mar 6, 2012 · Senate
Point of order that Senate amendment 3 not germane well taken, Ayes 17, Noes 16
- Mar 6, 2012 · Senate
Senate amendment 4 offered by Senator Leibham
- Mar 6, 2012 · Senate
Senate amendment 4 adopted
- Mar 6, 2012 · Senate
Ordered to a third reading
- Mar 6, 2012 · Senate
Rules suspended
- Mar 6, 2012 · Senate
Read a third time and passed, Ayes 32, Noes 1
- Mar 6, 2012 · Senate
Ordered immediately messaged
- Mar 6, 2012 · Assembly
Received from Senate
- Mar 6, 2012 · Assembly
Read first time and referred to committee on Rules
- 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
Read a second time
- Mar 15, 2012 · Assembly
Assembly substitute amendment 1 offered by Representatives Barca, Seidel, Pasch, Danou, Sinicki, Turner, Hebl, Vruwink, Clark, Bernard Schaber, Milroy, Molepske Jr and Jorgensen
- Mar 15, 2012 · Assembly
Assembly substitute amendment 1 laid on table, Ayes 59, Noes 34
- Mar 15, 2012 · Assembly
Assembly substitute amendment 2 offered by Representatives Barca, Pasch, Mason, Molepske Jr and Seidel
- Mar 15, 2012 · Assembly
Assembly substitute amendment 2 laid on table, Ayes 59, Noes 34
- Mar 15, 2012 · Assembly
Ordered to a third reading
- Mar 15, 2012 · Assembly
Rules suspended
- Mar 15, 2012 · Assembly
Read a third time and concurred in, Ayes 90, Noes 3
- Mar 15, 2012 · Assembly
Ordered immediately messaged
- Mar 16, 2012 · Senate
Received from Assembly concurred in
- Mar 23, 2012 · Senate
Report correctly enrolled on 3-23-2012
- Apr 4, 2012 · Senate
Presented to the Governor on 4-4-2012
- Apr 6, 2012 · Senate
Report approved by the Governor on 4-5-2012. 2011 Wisconsin Act 213
- Apr 10, 2012 · Senate
Published 4-19-2012
Terms on this page
Wisconsin Act
The number a bill gets when it becomes law, like 2025 Wisconsin Act 12.
Official term: Act. 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
Wisconsin Act
The number a bill gets when it becomes law, like 2025 Wisconsin Act 12.
Official term: Act
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