Assembly Bill 627

Various changes to the business development tax credit. (FE)

Became law

The governor signed it on Mar 21, 2024. It's ⁠.

Introduced, passed

Nov 8, 2023
Committee, passed

Approved
Assembly vote, passed

Passed Feb 13, 2024
Senate vote, passed

Passed 26 to 6
Governor, passed

Signed
Law, here now

2023 Wisconsin Act 143

Latest entry in the official record, Mar 21, 2024: “Published 3-22-2024”

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Wisconsin Act

The number a bill gets when it becomes law, like 2025 Wisconsin Act 12.

Official term: Act. More in the glossary

Legislative Reference Bureau

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Official term: LRB analysis. More in the glossary

Author

A lawmaker who formally puts a bill forward. The text itself is drafted by the Legislative Reference Bureau.

Official term: Author, coauthor. More in the glossary

Signed on in support

Lawmakers who back a bill without being one of its authors, often from the other chamber.

Official term: Cosponsor. More in the glossary

Cost estimate

A state agency's estimate of what a bill would cost or save.

Official term: Fiscal estimate. More in the glossary

Roll call

A vote where each lawmaker's yes or no is recorded by name.

Official term: Roll call vote. More in the glossary

What it does

Summary by the , the Legislature's nonpartisan drafting office. It's their wording, not ours.

This bill makes several adjustments to the business development tax credit.

The changes apply to taxable years beginning after December 31, 2022.

Read the full summary

Under current law, the Wisconsin Economic Development Corporation may certify a person who operates or intends to operate a business in this state to receive credits against state income and franchise taxes (tax benefits). These credits are refundable, which means that if the credit exceeds the person's tax liability, the person will receive the excess as a refund check.

Currently, a person is eligible for tax benefits if the person increases net employment in this state in the person's business above what it was in the year preceding the person's certification. Under the bill, a person is eligible for tax benefits if, in each year for which the person claims tax benefits: 1) the person creates new jobs or retains existing jobs and the person makes a capital investment in the person's business; and 2) the person does not decrease net employment in this state in the person's business below the net employment in this state in the person's business during the year before the person was certified to receive tax benefits.

Also, under current law, a person may claim tax benefits of up to 3 percent of the person's personal property investment and up to 5 percent of the person's real property investment in a capital investment project, if the project involves a total capital investment of at least $1,000,000 or, if less than $1,000,000, the project involves a capital investment that is equal to at least $10,000 per eligible employee employed on the project. The bill changes those limits to up to 10 percent of the person's personal property investment and up to 10 percent of the person's real property investment.

The bill also provides that a person may claim tax benefits of an amount equal to up to 15 percent of the person's investment in workforce housing for eligible employees and up to 15 percent of the person's investment in establishing a child care program for eligible employees.

The bill provides that WEDC must approve or deny the certification of a person within 90 days after receiving the person's application for certification.

Who's behind it

10 representatives are its ⁠. All 10 are Republicans.

3 more lawmakers ⁠.

See all 13 names

Authors (10)

Dave Armstrong · Republican, Assembly
Elijah Behnke · Republican, Assembly
Bob Donovan · Republican, Assembly
Karen Hurd · Republican, Assembly
John Macco · Republican, Assembly
Dave Maxey · Republican, Assembly
Jeff Mursau · Republican, Assembly
Jerry O'Connor · Republican, Assembly
Nancy VanderMeer · Republican, Assembly
Shannon Zimmerman · Republican, Assembly

Signed on in support (3)

Joan Ballweg · Republican, Senate
Dan Feyen · Republican, Senate
Mark Spreitzer · Democrat, Senate

What it would cost

State agencies filed a . Each opens as a PDF from the Legislature.

Versions and amendments

Every text the Legislature printed for this bill, including proposed changes. Each opens on the Legislature's site.