2017 - 2018 LEGISLATURE
August 31, 2017 - Introduced by Senators Tiffany, Wanggaard, Feyen,
and LeMahieu, cosponsored by Representatives Kuglitsch, R. Brooks,
Sanfelippo, Felzkowski, Horlacher, Murphy, Schraa, Petryk, Edming, E.
Brooks and Neylon. Referred to Committee on Revenue, Financial
Institutions and Rural Issues.
1An Act to amend
238.15 (1) (L); and
238.15 (1) (Lg) of the statutes; 2relating to: qualified new business venture eligibility.
Analysis by the 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.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
238.15 (1) (L) of the statutes is amended to read:
(L) For taxable years beginning after December 31, 2010 and before
5January 1, 2018
, it has not received more than $8,000,000 in investments that have
qualified for tax credits under ss. 71.07 (5b) and (5d), 71.28 (5b), 71.47 (5b), and 2
238.15 (1) (Lg) of the statutes is created to read:
(Lg) For taxable years beginning after December 31, 2017, it has not 5
received more than $12,000,000 in investments that have qualified for tax credits 6
under ss. 71.07 (5b) and (5d), 71.28 (5b), 71.47 (5b), and 76.638.