Wisconsin 2023-2024 Regular Session Status: Enacted 6 R cosponsors

AB 933 — Relating to: transferring the angel investment tax credit. (FE)

Last action — Published 3-22-2024

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Assembly
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 12, 2024. Enacted.

Signed by Governor Tony Evers (Democratic) on March 21, 2024.

Prognosis

Likely to advance 82% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 7 sponsors

    7 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (6 R).

  • Cleared a recorded vote

    Passed 3 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

50 added · 11 removed

Plain-language change summary

The amendments to Assembly Bill 933 allow individuals to transfer their angel investment tax credit to another taxpayer, making it easier for investors to benefit from their credits. Previously, this tax credit could not be sold or transferred, which limited its usefulness. This change means that investors can now sell their credits if they notify the relevant state authorities, promoting financial flexibility and encouraging more investment in new business ventures across Wisconsin. Overall, this amendment aims to stimulate economic growth by enhancing the appeal of investing in startups.

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- 2024 LEGISLATURE LRBa1060/1 MDE:cjs ASSEMBLY AMENDMENT 1, TO ASSEMBLY BILL 933 January 30, 2024 - Offered by Representative ITTKE.
- 2024 LEGISLATURE LRB-1083/1 MDE:skw ASSEMBLY BILL 933 January 12, 2024 - Introduced by Representatives W ITTKE, Z IMMERMAN , ARMSTRONG , GOEBEN, NEDWESKI , O'CONNOR and S HANKLAND , cosponsored by Senators FEYEN and W ANGGAARD .
At the locations indicated, amend the bill as follows:
Referred to Committee on State Affairs.
1.
A N A CT to amend 238.15 (3) (e) of the statutes;
Page 2, line 15:
relating to:
after that line insert:
transferring the angel investment tax credit.
“SECTION 1m.
Analysis by the Legislative Reference Bureau This bill allows the angel investment tax credit to be sold or otherwise transferred to another taxpayer.
0Initial applicability.
Under current law, the angel investment tax credit offsets the individual income tax and equals 25 percent of the claimant's eligible investment in a qualified new business venture that is certified by the Wisconsin Economic Development Corporation.
(1) This act first applies to a credit that a person was certified to claim under s.
The credit may not be sold or otherwise transferred.
238.15 on the effective date of this subsection.”.
The credit is part of the early stage business investment program, along with the early stage seed investment tax credit.
Unlike the angel investment tax credit, the early stage seed investment tax credit may be sold or otherwise transferred.
Under the bill, a person eligible to claim the angel investment tax credit may sell or otherwise transfer the credit to another person who is subject to Wisconsin individual income tax if the person notifies WEDC and the Department of Revenue of the transfer and submits a copy of the transfer documents.
The bill provides that, as with the early stage seed investment tax credit under current law, a person may not sell or otherwise transfer a credit more than once in a 12-month period and WEDC may charge a fee of up to 5 percent of the credit amount.
The bill also specifies that a person may not sell or otherwise transfer an individual credit more than once in a 12-month period.
- 2024 Legislature - 2 - LRB-1083/1 MDE:skw ASSEMBLY BILL 933 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:
SECTION 1.
238.15 (3) (e) of the statutes is amended to read:
238.15 (3) (e) Transfer.
A person who is eligible to claim a credit under s.
71.07 (5b), 71.28 (5b), 71.47 (5b), or 76.638 may sell or otherwise transfer the credit to another person who is subject to the taxes or fees imposed under s.
71.02, 71.23, 71.47, or subch.
III of ch.
76, if the person receives prior authorization from the investment fund manager and the manager then notifies the corporation and the department of revenue of the transfer and submits with the notification a copy of the transfer documents.
A person who is eligible to claim a credit under s.
71.07 (5d) may sell or otherwise transfer the credit to another person who is subject to the taxes imposed under s.
71.02 if the person notifies the corporation and the department of revenue of the transfer and submits with the notification a copy of the transfer documents.
No person may sell or otherwise transfer a an individual credit as provided in this paragraph more than once in a 12-month period.
The corporation may charge any person selling or otherwise transferring a credit under this paragraph a fee of up to 5 percent of the credit amount sold or transferred.
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Action History

  1. Published 3-22-2024

  2. Report approved by the Governor on 3-21-2024. 2023 Wisconsin Act 145

  3. Presented to the Governor on 3-18-2024

  4. Report correctly enrolled on 3-15-2024

  5. Received from Senate concurred in

  6. Ordered immediately messaged

  7. Read a third time and concurred in

  8. Rules suspended to give bill its third reading

  9. Ordered to a third reading

  10. Rules suspended to withdraw from joint committee on Finance and take up

  11. Referred to joint committee on Finance

  12. Read a second time

  13. Placed on calendar 3-12-2024 pursuant to Senate Rule 18(1)

  14. Available for scheduling

  15. Report concurrence recommended by Committee on Universities and Revenue, Ayes 7, Noes 1

  16. Executive action taken

  17. Public hearing held

  18. Read first time and referred to committee on Universities and Revenue

  19. Received from Assembly

  20. Ordered immediately messaged

  21. Read a third time and passed

  22. Rules suspended

  23. Ordered to a third reading

  24. Assembly Amendment 1 adopted

  25. Read a second time

  26. LRB correction (Assembly Amendment 1)

  27. Placed on calendar 2-20-2024 by Committee on Rules

  28. Representative Brooks added as a coauthor

  29. Referred to committee on Rules

  30. Report passage as amended recommended by Committee on State Affairs, Ayes 11, Noes 0

  31. Report Assembly Amendment 1 adoption recommended by Committee on State Affairs, Ayes 11, Noes 0

  32. Executive action taken

  33. Assembly Amendment 1 offered by Representative Wittke

  34. Public hearing held

  35. Fiscal estimate received

  36. Fiscal estimate received

  37. Read first time and referred to Committee on State Affairs

  38. Introduced by Representatives Wittke, Zimmerman, Armstrong, Goeben, Nedweski, O'Connor and Shankland; cosponsored by Senators Feyen and Wanggaard

Sponsors

Sponsorship breakdown

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7 sponsors · 0 co-sponsors · 125 not signed on

Sponsors (7)

Co-sponsors (0)

None.

Not signed on (125)

125 members have not signed on to this bill.

Show all 125 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors AB 933?
AB 933 is sponsored by Wittke, Robert (Republican), Zimmerman, Shannon (Republican), Armstrong, David (Republican), Goeben, Joy (Republican), Nedweski, Amanda (Republican), O'Connor, Jerry (Republican), and Shankland.
What is the current status of AB 933?
This bill has been enacted into law. Introduced January 12, 2024. Enacted.
Where can I track AB 933?
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