SB 883

This bill modifies one of the criteria that a business must meet to be certified

as a qualified new business venture by the Wisconsin Economic Development

Corporation.

Under current law, the angel investment tax credit and the early stage seed

investment tax credit are available to claimants making eligible investments in

qualified new business ventures that are certified by WEDC. Under current law, one

criterion for certification is that the business has the potential for increasing jobs or

capital investment in Wisconsin and is either:

1. Engaged in, or committed to engage in, innovation in any of the following:

a. Manufacturing, biotechnology, nanotechnology, communications,

agriculture, or clean energy creation or storage technology.

b. Processing or assembling products, including medical devices,

pharmaceuticals, computer software and hardware, semiconductors, and other

innovative technology products, or other products that are produced using

manufacturing methods that are enabled by applying differentiating technology.

c. Services that are enabled by applying differentiating technology.

2. Undertaking pre-commercialization activity related to differentiating

technology that includes conducting research, developing a new product or business

process, or developing a service that is principally reliant on applying differentiating

technology.

The bill repeals item 1 and maintains item 2. As such, under the bill, one

criterion that a business must meet for certification as a qualified new business

venture is that it has the potential for increasing jobs or capital investment in

Wisconsin and is undertaking pre-commercialization activity related to

differentiating technology that includes conducting research, developing a new

product or business process, or developing a service that is principally reliant on

applying differentiating technology.