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Wisconsin Legislature: AB566: Bill Text
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AB566: Bill Text
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2025 - 2026 LEGISLATURE
LRB-2765/1
JK:ajk&cdc
2025 ASSEMBLY BILL 566
October 24, 2025 - Introduced by Representatives
Wittke
,
Moses
,
Armstrong
,
Goodwin
,
O'Connor
and
Wichgers
, cosponsored by Senators
Feyen
,
Spreitzer
and
Roys
. Referred to Committee on State Affairs.
AB566,1,4
1
An Act
to amend
71.07 (5d) (a) 1. (intro.);
to create
71.07 (5b) (a) 3., 71.28 (5b)
2
(a) 3. and 71.47 (5b) (a) 3. of the statutes;
relating to:
qualifying investments
3
for purposes of claiming the early stage seed investment and angel investment
4
credits.
Analysis by the Legislative Reference Bureau
Current law allows an individual to claim an income tax credit equal to 25 percent of the individual’s bona fide angel investment in a qualified new business venture certified by the Wisconsin Economic Development Corporation. “Bona fide angel investment” is defined as the purchase of an equity interest or any other expenditure, as determined by rule. This bill modifies that definition to include a convertible instrument such as a convertible note or a simple agreement for future equity.
Current law allows a person to claim the early stage seed investment tax credit equal to 25 percent of the person’s investment paid to a fund manager that the fund manager invests in a qualified new business venture certified by WEDC. Under the bill, “investment” is defined as a purchase of an equity interest, a convertible instrument such as a convertible note or a simple agreement for future equity, or any other expenditure, as determined by WEDC.
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:
AB566,1
1
Section
1
.
71.07 (5b) (a) 3. of the statutes is created to read:
AB566,2,5
2
71.07
(5b)
(a) 3. “Investment” means a purchase of an equity interest, a
3
convertible instrument such as a convertible note or a simple agreement for future
4
equity, or any other expenditure, as determined by the Wisconsin Economic
5
Development Corporation under s. 238.15.
AB566,2
6
Section
2
.
71.07 (5d) (a) 1. (intro.) of the statutes is amended to read:
AB566,2,10
7
71.07
(5d)
(a) 1. (intro.) “Bona fide angel investment” means a purchase of an
8
equity interest,
a convertible instrument such as a convertible note or a simple
9
agreement for future equity,
or any other expenditure, as determined by rule under
10
s. 238.15 or s. 560.205, 2009 stats., that is made by any of the following:
AB566,3
11
Section
3
.
71.28 (5b) (a) 3. of the statutes is created to read:
AB566,2,15
12
71.28
(5b)
(a) 3. “Investment” means a purchase of an equity interest, a
13
convertible instrument such as a convertible note or a simple agreement for future
14
equity, or any other expenditure, as determined by the Wisconsin Economic
15
Development Corporation under s. 238.15.
AB566,4
16
Section
4
.
71.47 (5b) (a) 3. of the statutes is created to read:
AB566,2,20
17
71.47
(5b)
(a) 3. “Investment” means a purchase of an equity interest, a
18
convertible instrument such as a convertible note or a simple agreement for future
19
equity, or any other expenditure, as determined by the Wisconsin Economic
20
Development Corporation under s. 238.15.
AB566,5
1
Section
5
. Initial applicability.
AB566,3,2
2
(
1
)
This act first applies to taxable years beginning on January 1, 2025.
AB566,3,3
3
(end)
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