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Bills · 2017-2018 Regular Session

AB 489

Became law Official bill text Atom feed

Relating to: qualified new business venture eligibility. (FE)

Business Corporation — Taxation Economic development corporation, wisconsin Economic impact statement

  1. Introduced, completed
  2. Passes Assembly, completed
  3. Passes Senate, completed
  4. Governor signs, completed
  5. Law, completed

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

This bill expands eligibility for certain businesses receiving investments that

qualify the investors for tax credits under the angel and early stage seed investment

tax credit programs administered by the Wisconsin Economic Development

Corporation. Under current law, certain investors may receive tax credits under

those programs for investments in businesses certified by WEDC as “qualified new

business ventures." WEDC may certify a business as a qualified new business

venture if, among other requirements, for taxable years beginning after December

31, 2010, the business has not received more than $8,000,000 in investments that

qualified for tax credits under the programs. The bill raises that threshold to

$12,000,000 for taxable years beginning after December 31, 2017.

What it would cost

Fiscal estimates filed by state agencies, as official PDFs

Sponsors

Introduced by: E. Brooks (R) , Edming (R) , Felzkowski (R) , Horlacher (R) , Kuglitsch (R) , Macco (R) , Murphy (R) , Neylon (R) , Petryk (R) , R. Brooks (R) , Sanfelippo (R) , Schraa (R)

6 cosponsors

Darling (R) , Feyen (R) , LeMahieu (R) , Subeck (D) , Tiffany (R) , Wanggaard (R)

Votes

Assembly: Report passage recommended by Committee on Jobs and the Economy, Ayes 12, Noes 0

Passed 12–0 Nov 6, 2017 official source full page

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

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

Passed 5–0 Jan 10, 2018 official source full page

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

Senate: Referred to joint committee on Finance by Committee on Senate Organization pursuant to Senate Rule 41 (1)(e), Ayes 5, Noes 0

Passed 5–0 Jan 19, 2018 official source full page

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

Senate: Report concurrence recommended by Joint Committee on Finance, Ayes 16, Noes 0

Passed 16–0 Feb 13, 2018 official source full page

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

Senate: CONCURRENCE

Passed 32–0 Feb 20, 2018 official source full page

Full history

  1. Sep 7, 2017 · Assembly

    Introduced by Representatives Kuglitsch, R. Brooks, Sanfelippo, Felzkowski, Horlacher, Murphy, Schraa, Petryk, Edming, E. Brooks, Macco and Neylon; cosponsored by Senators Tiffany, Wanggaard, Feyen, Darling and LeMahieu

  2. Sep 7, 2017 · Assembly

    Read first time and referred to Committee on Jobs and the Economy

  3. Sep 12, 2017 · Assembly

    Fiscal estimate received

  4. Sep 13, 2017 · Assembly

    Representative Subeck added as a coauthor

  5. Sep 25, 2017 · Assembly

    Fiscal estimate received

  6. Oct 18, 2017 · Assembly

    Public hearing held

  7. Oct 25, 2017 · Assembly

    Executive action taken

  8. Nov 6, 2017 · Assembly

    Report passage recommended by Committee on Jobs and the Economy, Ayes 12, Noes 0

  9. Nov 6, 2017 · Assembly

    Referred to committee on Rules

  10. Nov 7, 2017 · Assembly

    Placed on calendar 11-9-2017 by Committee on Rules

  11. Nov 9, 2017 · Assembly

    Read a second time

  12. Nov 9, 2017 · Assembly

    Ordered to a third reading

  13. Nov 9, 2017 · Assembly

    Rules suspended

  14. Nov 9, 2017 · Assembly

    Read a third time and passed

  15. Nov 9, 2017 · Assembly

    Ordered immediately messaged

  16. Nov 9, 2017 · Senate

    Received from Assembly

  17. Nov 14, 2017 · Senate

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

  18. Dec 12, 2017 · Senate

    Public hearing held

  19. Jan 10, 2018 · Senate

    Executive action taken

  20. Jan 10, 2018 · Senate

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

  21. Jan 10, 2018 · Senate

    Available for scheduling

  22. Jan 19, 2018 · Senate

    Referred to joint committee on Finance by Committee on Senate Organization pursuant to Senate Rule 41 (1)(e), Ayes 5, Noes 0

  23. Feb 13, 2018 · Senate

    Executive action taken

  24. Feb 13, 2018 · Senate

    Report concurrence recommended by Joint Committee on Finance, Ayes 16, Noes 0

  25. Feb 13, 2018 · Senate

    Available for scheduling

  26. Feb 16, 2018 · Senate

    Placed on calendar 2-20-2018 pursuant to Senate Rule 18(1)

  27. Feb 20, 2018 · Senate

    Read a second time

  28. Feb 20, 2018 · Senate

    Ordered to a third reading

  29. Feb 20, 2018 · Senate

    Rules suspended

  30. Feb 20, 2018 · Senate

    Read a third time and concurred in, Ayes 32, Noes 0

  31. Feb 20, 2018 · Senate

    Ordered immediately messaged

  32. Feb 20, 2018 · Assembly

    Received from Senate concurred in

  33. Feb 27, 2018 · Assembly

    Report correctly enrolled on 2-27-2018

  34. Apr 2, 2018 · Assembly

    Presented to the Governor on 4-2-2018

  35. Apr 4, 2018 · Assembly

    Report approved by the Governor on 4-3-2018. 2017 Wisconsin Act 234

  36. Apr 4, 2018 · Assembly

    Published 4-4-2018