Wisconsin 2023-2024 Regular Session Status: To Executive 2 R cosponsors

SB 883 — Relating to: modifying the certification criteria to be a qualified new business venture. (FE)

Last action — Failed to pass pursuant to Senate Joint Resolution 1

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

This bill died with 2023-2024 Regular Session. It reached “To Executive” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

34 added · 26 removed

Plain-language change summary

The recent changes to Bill SB 883 involve the removal of a previous certification requirement for businesses to qualify as new ventures. Instead, the focus has shifted to allowing businesses to qualify based on their commitment to innovation, specifically in developing new technologies, products, or services. This change is important because it broadens the criteria for certification, potentially encouraging more startups in Wisconsin to pursue innovation, which could lead to increased job creation and investment in the state.

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- 2024 LEGISLATURE LRBs0290/1 MDE:cjs SENATE SUBSTITUTE AMENDMENT 1, TO SENATE BILL 883 February 8, 2024 - Offered by Senator F EYEN .
- 2024 LEGISLATURE LRB-5347/1 MDE:skw SENATE BILL 883 January 5, 2024 - Introduced by Senators FEYEN and W ANGGAARD , cosponsored by Representatives W ITTKE, IMMERMAN , RMSTRONG , MURSAU, MAXEY , 'CONNOR and J ACOBSON .
Referred to Committee on Economic Development and Technical Colleges.
andto create 238.15 (1) (f) 1m.
and to consolidate, renumber and amend 238.15 (1) (f) (intro.) and 2.
Processing or assembling products, including medical devices, pharmaceuticals, computer software or hardware, semiconductors, any other innovative technology products, or other products that are produced using manufacturing methods that are enabled by applying differentiating technology.
Processing or assembling products, including medical devices, pharmaceuticals, computer software and hardware, semiconductors, and other innovative technology products, or other products that are produced using manufacturing methods that are enabled by applying differentiating technology.
LRBs0290/1 - 2024 Legislature - 2 - MDE:cjs 2.
2.
Undertaking pre-commercialization activity related to differentiating technology that includes conducting research, developing a new product or business process, or developing a service that is principally reliant on applying differentiating technology.
Undertaking pre-commercialization activity related to differentiating technology that includes conducting research, developing a new product or business - 2024 Legislature - 2 - LRB-5347/1 MDE:skw SENATE BILL 883 process, or developing a service that is principally reliant on applying differentiating technology.
The bill replaces item 1 with the option for a business to qualify under the above criterion if the business is engaged in, or has committed to engage in, innovation, if the innovation involves the development of a differentiating technology, product, service, or production process.
The bill repeals item 1 and maintains item 2.
The bill first applies to a business initially certified for the angel investment tax credit or the early stage seed investment tax credit on the effective date of the bill.
As such, under the bill, one criterion that a business must meet for certification as a qualified new business venture is that it has the potential for increasing jobs or capital investment in Wisconsin and is undertaking pre-commercialization activity related to differentiating technology that includes conducting research, developing a new product or business process, or developing a service that is principally reliant on applying differentiating technology.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
SECTION 1.
S ECTION 1.
238.15 (1) (f) (intro.) and 2.
of the statutes are consolidated, renumbered 238.15 (1) (f) and amended to read:
238.15 (1) (f) It has the potential for increasing jobs in this state, increasing capital investment in this state, or both, and any of the following apply:
2.
It it is undertaking pre-commercialization activity related to differentiating technology that includes conducting research, developing a new product or business process, or developing a service that is principally reliant on applying differentiating technology.
S ECTION 2.
SECTION 2.
238.15 (1) (f) 1m.
of the statutes is created to read:
238.15 (1) (f) 1m.
It is engaged in, or has committed to engage in, innovation, if the innovation involves the development of a differentiating technology, product, service, or production process.
SECTION 3.Initial applicability.
(1) This act first applies to a business that is first certified under s.
238.15 (1) on the effective date of this subsection.
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Action History

  1. Failed to pass pursuant to Senate Joint Resolution 1

  2. Available for scheduling

  3. Report passage as amended recommended by Committee on Economic Development and Technical Colleges, Ayes 6, Noes 0

  4. Report adoption of Senate Substitute Amendment 1 recommended by Committee on Economic Development and Technical Colleges, Ayes 6, Noes 0

  5. Executive action taken

  6. Public hearing held

  7. Representative Jacobson withdrawn as a cosponsor

  8. Senate Substitute Amendment 1 offered by Senator Feyen

  9. Representative Brooks added as a cosponsor

  10. Fiscal estimate received

  11. Fiscal estimate received

  12. Read first time and referred to Committee on Economic Development and Technical Colleges

  13. Introduced by Senators Feyen and Wanggaard; cosponsored by Representatives Wittke, Zimmerman, Armstrong, Mursau, Maxey, O'Connor and Jacobson

Sponsors

Sponsorship breakdown

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2 sponsors · 0 co-sponsors · 130 not signed on

Sponsors (2)

Co-sponsors (0)

None.

Not signed on (130)

130 members have not signed on to this bill.

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"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.

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Frequently asked questions

Who sponsors SB 883?
SB 883 is sponsored by Feyen, Dan (Republican) and Wanggaard, Van (Republican).
What is the current status of SB 883?
This bill died with 2023-2024 Regular Session. It reached “To Executive” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 883?
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