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Bills · 2013-2014 Regular Session

AB 338

Died at session end Official bill text Atom feed

Relating to: allowing refunds for the early stage seed and angel investment tax credits and having the Department of Administration administer the credits and making an appropriation. (FE)

Administration, department of — Agency and general functions Business Economic development corporation, wisconsin Franchise — Taxation Income tax — Credit Income tax — Refund Industrial development

  1. Introduced, stopped here
  2. Passes Assembly, not reached
  3. Passes Senate, not reached
  4. Governor signs, not reached
  5. Law, not reached

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

Under current law, a taxpayer may claim early stage seed and angel investment

income and franchise tax credits for the taxpayer's investments in qualified new

businesses. If the credit amounts exceed the taxpayer's tax liability, the taxpayer

does not receive a refund, but, instead, may apply the amount of the unused credits

to subsequent taxable years. Under this bill, if the credit amounts exceed the

taxpayer's tax liability, the taxpayer receives a refund. The bill also transfers the

administration of the early stage seed and angel investment credits from the

Wisconsin Economic Development Corporation to the Department of

Administration.

What it would cost

Fiscal estimates filed by state agencies, as official PDFs

Sponsors

Introduced by: Barca (D) , Berceau (D) , Bernard Schaber (D) , Bewley (D) , Goyke (D) , Hulsey (D) , Jorgensen (D) , Kahl (D) , Kolste (D) , Milroy (D) , Ohnstad (D) , Richards (D) , Ringhand (D) , Sargent (D) , Wachs (D) , Wright (D)

4 cosponsors

C. Larson (D) , Erpenbach (D) , Lassa (D) , Shilling (D)

Votes

Suspending the rules (to take a vote immediately) needs a two-thirds majority — a higher bar than passing the bill, which needs a simple majority. That's why a suspension motion can show more Ayes than the passage vote that follows it. Glossary

Assembly: Refused to suspend rules to withdraw from committee on Jobs, Economy and Mining and take up, Ayes 38, Noes 56

Failed 38–56 Oct 8, 2013 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Full history

  1. Aug 23, 2013 · Assembly

    Introduced by Representatives Wright, Barca, Bewley, Berceau, Milroy, Kahl, Kolste, Goyke, Ohnstad, Jorgensen, Sargent, Bernard Schaber, Ringhand, Richards, Wachs and Hulsey; cosponsored by Senators Lassa, C. Larson, Shilling and Erpenbach

  2. Aug 23, 2013 · Assembly

    Read first time and referred to Committee on Jobs, Economy and Mining

  3. Sep 16, 2013 · Assembly

    Fiscal estimate received

  4. Sep 30, 2013 · Assembly

    Fiscal estimate received

  5. Oct 8, 2013 · Assembly

    Refused to suspend rules to withdraw from committee on Jobs, Economy and Mining and take up, Ayes 38, Noes 56

  6. Apr 8, 2014 · Assembly

    Failed to pass pursuant to Senate Joint Resolution 1