LRB-4125/1
ARG:amn
2015 - 2016 LEGISLATURE
January 15, 2016 - Introduced by Representatives Edming, R. Brooks, Czaja,
Horlacher, Kremer, Krug, Kuglitsch, Kulp, T. Larson, Neylon and Schraa.
Referred to Committee on Small Business Development.
AB732,1,2
1An Act relating to: the fee for filing limited liability company articles of
2organization with the Department of Financial Institutions.
Analysis by the Legislative Reference Bureau
This bill creates, for student entrepreneurs, a one-year exemption to the $130
initial filing fee for articles of organization to form a limited liability company. The
fee exemption is available to students enrolled in four-year institutions and
two-year colleges in the University of Wisconsin System, as well those enrolled in
the University of Wisconsin-Extension and in technical colleges in this state. The
exemption is available to these students who form a limited liability company as a
business start-up in a field related to engineering, computer science, alternative
energy research, biology, chemistry, physics, or other life science or physical science.
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:
AB732,1
3Section
1.
Nonstatutory provisions.
AB732,1,44
(1)
Temporary exemption from LLC filing fee for certain business start-ups.
AB732,1,65
(a) In this subsection, "student entrepreneur" means a student to whom all of
6the following apply:
AB732,2,2
11. The student is enrolled in the University of Wisconsin System or in a
2technical college under chapter 38 of the statutes.
AB732,2,7
32. The student is an organizer of a limited liability company under section
4183.0201 of the statutes or will be a member of the limited liability company upon
5its formation, and the limited liability company is being formed as a business
6start-up in a field related to engineering, computer science, alternative energy
7research, biology, chemistry, physics, or other life science or physical science.
AB732,2,118
(b) Notwithstanding section 183.0114 (1) (a) and (3) of the statutes, from May
91, 2016, to May 1, 2017, the department of financial institutions may not collect a fee
10for filing articles of organization to form a limited liability company under chapter
11183 of the statutes if all of the following apply:
AB732,2,13
121. Any member of the limited liability company, upon its formation, is a student
13entrepreneur.
AB732,2,17
142. If the limited liability company is formed by organizers under section
15183.0201 of the statutes who will not become members of the limited liability
16company upon its formation, at least one organizer of the limited liability company
17is a student entrepreneur.
