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Bills · 2015-2016 Regular Session

SB 404

Died at session end Official bill text Atom feed

Relating to: allowing taxpayers to claim early stage seed investment credits for investments in the fund of funds. (FE)

Business Corporation — Taxation Income tax — Credit

  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

This bill allows a taxpayer to claim an early stage seed investment credit based

on the taxpayer's investment through the state's fund of funds investment program

in a qualified new business venture. Currently, a taxpayer may claim an early stage

seed investment credit equal to 25 percent of the taxpayer's investment paid to a fund

manager that the fund manager invests in a certified new business venture.

What it would cost

Fiscal estimates filed by state agencies, as official PDFs

Sponsors

Introduced by: Darling (R)

10 cosponsors

Doyle (D) , Edming (R) , Kapenga (R) , Krug (R) , Murphy (R) , Neylon (R) , R. Brooks (R) , Rohrkaste (R) , T. Larson (R) , Tittl (R)

Votes

Senate: Report passage recommended by Committee on Revenue, Financial Institutions, and Rural Issues, Ayes 5, Noes 0

Passed 5–0 Jan 15, 2016 official source full page

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

Senate: Report introduction of Senate Amendment 1 by Joint Committee on Finance, Ayes 15, Noes 0

Passed 15–0 Feb 11, 2016 official source full page

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

Senate: Report introduction of Senate Amendment 2 by Joint Committee on Finance, Ayes 15, Noes 0

Passed 15–0 Feb 11, 2016 official source full page

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

Senate: Report adoption of Senate Amendment 1 recommended by Joint Committee on Finance, Ayes 14, Noes 0

Passed 14–0 Feb 11, 2016 official source full page

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

Senate: Report adoption of Senate Amendment 2 recommended by Joint Committee on Finance, Ayes 14, Noes 0

Passed 14–0 Feb 11, 2016 official source full page

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

Senate: Report passage as amended recommended by Joint Committee on Finance, Ayes 14, Noes 0

Passed 14–0 Feb 11, 2016 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. Dec 3, 2015 · Senate

    Introduced by Senator Darling; cosponsored by Representatives Neylon, Krug, Doyle, Edming, T. Larson, Murphy, Rohrkaste, Tittl and R. Brooks

  2. Dec 3, 2015 · Senate

    Read first time and referred to Committee on Revenue, Financial Institutions, and Rural Issues

  3. Dec 15, 2015 · Senate

    Public hearing held

  4. Dec 18, 2015 · Senate

    Fiscal estimate received

  5. Dec 18, 2015 · Senate

    Fiscal estimate received

  6. Jan 13, 2016 · Senate

    Executive action taken

  7. Jan 15, 2016 · Senate

    Report passage recommended by Committee on Revenue, Financial Institutions, and Rural Issues, Ayes 5, Noes 0

  8. Jan 15, 2016 · Senate

    Available for scheduling

  9. Feb 2, 2016 · Senate

    Withdrawn from committee on Senate Organization and rereferred to joint committee on Finance pursuant to Senate Rule 46(2)(c)

  10. Feb 10, 2016 · Senate

    Executive action taken

  11. Feb 11, 2016 · Senate

    Report introduction of Senate Amendment 1 by Joint Committee on Finance, Ayes 15, Noes 0

  12. Feb 11, 2016 · Senate

    Report introduction of Senate Amendment 2 by Joint Committee on Finance, Ayes 15, Noes 0

  13. Feb 11, 2016 · Senate

    Report adoption of Senate Amendment 1 recommended by Joint Committee on Finance, Ayes 14, Noes 0

  14. Feb 11, 2016 · Senate

    Report adoption of Senate Amendment 2 recommended by Joint Committee on Finance, Ayes 14, Noes 0

  15. Feb 11, 2016 · Senate

    Report passage as amended recommended by Joint Committee on Finance, Ayes 14, Noes 0

  16. Feb 11, 2016 · Senate

    Available for scheduling

  17. Feb 16, 2016 · Senate

    Senator Kapenga added as a coauthor

  18. Apr 13, 2016 · Senate

    Failed to pass pursuant to Senate Joint Resolution 1