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Bills · 2017-2018 Regular Session

SB 398

Died at session end 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, 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 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: Darling (R) , Feyen (R) , LeMahieu (R) , Tiffany (R) , Wanggaard (R)

11 cosponsors

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

Votes

Senate: Report passage 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.

Full history

  1. Aug 31, 2017 · Senate

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

  2. Aug 31, 2017 · Senate

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

  3. Sep 11, 2017 · Senate

    Fiscal estimate received

  4. Sep 11, 2017 · Senate

    Fiscal estimate received

  5. Dec 12, 2017 · Senate

    Public hearing held

  6. Jan 10, 2018 · Senate

    Executive action taken

  7. Jan 10, 2018 · Senate

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

  8. Jan 10, 2018 · Senate

    Available for scheduling

  9. Mar 28, 2018 · Senate

    Failed to pass pursuant to Senate Joint Resolution 1