Senate Bill 1063
A tax credit for investments in a community development financial institution. (FE)
Stopped in committee
It never got a , so it never came up for a vote. To try again, a lawmaker would have to start a new bill.
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Introduced, passed
Feb 21, 2024
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Committee, stopped here
Stopped here. No public hearing was held.
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Senate vote, not reached
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Assembly vote, not reached
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Governor, not reached
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Law, not reached
Latest entry in the official record, Apr 15, 2024: “Failed to pass pursuant to ”
It never got a hearing in the Senate Committee on Financial Institutions and Sporting Heritage. See every bill that never got a hearing this session.
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Terms on this page
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1. More in the glossary
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
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
What it would have done
Summary by the , the Legislature's nonpartisan drafting office. It's their wording, not ours.
Under this bill, a person who makes a qualified investment in a registered community development financial institution (CDFI) may receive a credit against state income and franchise taxes for taxable years beginning after December 31, 2022, and before January 1, 2025, and against license fees paid by insurers for that same period. The bill defines a CDFI as an entity that is organized under the laws of this state, uses qualified investments for projects that are based in this state, and has been certified by the Community Development Financial Institutions Fund established under federal law as meeting certain eligibility requirements. The bill defines a “qualified investment" as a loan or deposit that has a value of at least $10,000, pays no interest to the person making the loan or deposit, and is made for a minimum of 60 months. The CDFI retains complete control of the loan or deposit for the duration of the investment period.
A person may claim 10 percent of the person's qualified investment, if the investment is at least $10,000 but not more than $150,000, or 12 percent of the person's qualified investment, if the investment is more than $150,000 but not more than $500,000. If the person withdraws the qualified investment from the CDFI before the end of the investment period and does not reinvest the qualified investment in another CDFI, the person must repay a portion of the credit amounts that the person received by adding the portion to the person's tax or fee liability in a subsequent year. However, the portion that the person must repay depends on when the person withdraws the investment during the investment period. The portion that the person must repay decreases the longer the person holds the investment during the investment period.
Who's behind it
3 senators are its . All 3 are Democrats.
11 more lawmakers .
See all 14 names Hide the names
Authors (3)
- Chris Larson · Democrat, Senate
- Jeff Smith · Democrat, Senate
- Mark Spreitzer · Democrat, Senate
Signed on in support (11)
- Melissa Agard · Democrat, Senate
- Sue Conley · Democrat, Assembly
- Dave Considine · Democrat, Assembly
- Alex Joers · Democrat, Assembly
- Supreme Moore Omokunde · Democrat, Assembly
- Tod Ohnstad · Democrat, Assembly
- Melissa Ratcliff · Democrat, Senate
- Katrina Shankland · Democrat, Assembly
- Christine Sinicki · Democrat, Assembly
- Shelia Stubbs · Democrat, Assembly
- Lisa Subeck · Democrat, Assembly
What it would cost
State agencies filed a . Each opens as a PDF from the Legislature.
What happened
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Apr 15, 2024
The session ended, and the bill died with it.
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Feb 23, 2024
1 more senator signed on in support.
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Feb 21, 2024
Sent to the Senate Committee on Financial Institutions and Sporting Heritage.
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Feb 21, 2024
Introduced in the Senate.
See the official record, word for word Hide the official record
- Feb 21, 2024 · Senate
Introduced by Senators Smith, Larson and Spreitzer; cosponsored by Representatives Shankland, Conley, Considine, Joers, Moore Omokunde, Ohnstad, Ratcliff, Sinicki, Stubbs and Subeck
- Feb 21, 2024 · Senate
Read first time and referred to Committee on Financial Institutions and Sporting Heritage
- Feb 23, 2024 · Senate
Senator Agard added as a coauthor
- Apr 15, 2024 · Senate
Failed to pass pursuant to Senate Joint Resolution 1
Terms on this page
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1. More in the glossary
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
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
From the Wisconsin Legislature's official record, checked Sep 15, 2026. See the source
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate