LRB-3677/1
JK:ahe
2015 - 2016 LEGISLATURE
December 3, 2015 - Introduced by Senator Darling, cosponsored by
Representatives Neylon, Krug, Doyle, Edming, T. Larson, Murphy,
Rohrkaste, Tittl and R. Brooks. Referred to Committee on Revenue,
Financial Institutions, and Rural Issues.
SB404,1,2
1An Act to create 16.295 (10) of the statutes;
relating to: allowing taxpayers to
2claim early stage seed investment credits for investments in the fund of funds.
Analysis by the Legislative Reference Bureau
This bill allows a taxpayer to claim an early stage seed investment credit based
on the taxpayer's investment through the state's fund of funds investment program
in a qualified new business venture. Currently, a taxpayer may claim an early stage
seed investment credit equal to 25 percent of the taxpayer's investment paid to a fund
manager that the fund manager invests in a certified new business venture.
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:
SB404,1
3Section
1. 16.295 (10) of the statutes is created to read:
SB404,2,24
16.295
(10) Early stage seed investment credits. Funds invested by the
5investment manager under sub. (5) in venture capital funds managed by investment
6fund managers certified under s. 238.15 (2) or s. 560.205 (2), 2009 stats., may be used
1as the basis for claiming the early stage seed investment credits under s. 71.07 (5b),
271.28 (5b), 71.47 (5b), or 76.638.
SB404,2
3Section
2.
Initial applicability.
SB404,2,44
(1) This act first applies to taxable years beginning after December 31, 2015.
