Wisconsin Legislature: S795

Senate Bill 631Act 261 May 21 , 2010

Senate Bill 464Act 262 May 21 , 2010

Senate Bill 465Act 263 May 21 , 2010

Sincerely,
DOUGLAS LA FOLLETTE
Secretary of State

__________________

State of Wisconsin
Office of the Secretary of State

May 10 , 2010

The Honorable, the Legislature:

Bill Number Enrolled No. Publication Date

SJR 64 36Not Published

SJR 72 37Not Published

SJR 73 38Not Published

SJR 83 39Not Published

Sincerely,
DOUGLAS LA FOLLETTE
Secretary of State

__________________

State of Wisconsin
Office of the Governor

May 10 , 2010

To the Honorable, the Senate:

The following bill(s), originating in the Senate, have been approved, signed and deposited in the office of the Secretary of State:

Bill Number Act Number Date Approved

Senate Bill 409 Act 265 May 10 , 2010
(Vetoed in Part)

Senate Bill 121 Act 271 May 10 , 2010

Senate Bill 624 Act 272 May 10 , 2010

Respectfully Submitted,
JIM DOYLE
Governor

__________________

State of Wisconsin

Office of the Governor

May 10, 2010

The Honorable, The Senate:

S795 I have approved Senate Bill 409 as 2009 Wisconsin Act 265 and have deposited it in the Office of the Secretary of State. While I applaud the bill's significant efforts to promote economic development, I have exercised the partial veto to help limit the effect of this bill on the general fund balance and preserve equity between investment tax credit programs.

Senate Bill 409, the CORE Jobs Bill, creates and expands a number of tax credit programs, grant programs and loan programs aimed at spurring economic development and job creation. Major investments are made in advanced manufacturing skill training, support for job skills enhancement training, tax credits for post-secondary education, grants to support conversion of manufacturing facilities to produce renewable energy or manufacture equipment used to produce renewable energy, and incentives to jump-start and grow new businesses. Among the changes is an increase to the early stage seed tax credit from 25 percent to 40 percent of the investment in a qualified new business venture.

Unfortunately, while the bill increases the early stage seed tax credit it does not include a parallel increase to the angel investment tax credit. These two programs have historically contained symmetrical incentives for both early stage seed investors and angel investors. I object to the inequity the enrolled bill creates between these parallel tax credit programs. I am therefore vetoing sections 23g, 23h, 28g, 28h, 32g and 32h to ensure parity between the incentives for angel investors and early state seed investors. This veto will also help to limit the fiscal effect of the bill on the general fund balance.

I believe the partial vetoes I have made to SB 409 maintain the economic development benefits of the bill, while controlling the fiscal impact to the general fund and preserving equity for investors in new business ventures.

Respectfully Submitted,
JIM DOYLE
Governor

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Referrals and Receipt of Committee Reports Concerning Proposed Administrative Rules

Senate Clearinghouse Rule 09-013

Relating to the definition of the term "political purpose."

Submitted by Government Accountability Board.

Report received from Agency, May 6, 2010.

Referred to committee on Labor, Elections and Urban Affairs, May 10, 2010 .

Senate Clearinghouse Rule 10-026

Relating to use of the 2001 CSO Preferred Class Structure Mortality Table in determining reserve liabilities.

Submitted by Office of the Commissioner of Insurance.

Report received from Agency, May 7, 2010.