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Bills · 2013-2014 Regular Session

SB 260

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 Senate, not reached
  3. Passes Assembly, 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: C. Larson (D) , Erpenbach (D) , Lassa (D) , Shilling (D)

16 cosponsors

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)

Full history

  1. Aug 21, 2013 · Senate

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

  2. Aug 21, 2013 · Senate

    Read first time and referred to Committee on Economic Development and Local Government

  3. Sep 5, 2013 · Senate

    Fiscal estimate received

  4. Sep 12, 2013 · Senate

    Fiscal estimate received

  5. Sep 16, 2013 · Senate

    Fiscal estimate received

  6. Apr 8, 2014 · Senate

    Failed to pass pursuant to Senate Joint Resolution 1