AB129,22,2016 19.42 (13) (p) The executive director of the Wisconsin Venture Capital
17Authority, the members of the authority's board of directors who are appointed by the
18speaker of the assembly and the majority leader of the senate, and the fund manager
19of the badger jobs fund hired by the authority under s. 239.11 (4), including all
20partners, members, officers, or other principals if the fund manager is an entity.

AB129,22,23 2220.195 Wisconsin Venture Capital Authority. There is appropriated to the
23Wisconsin Venture Capital Authority for the following program:

AB129,23,3

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1(1) Venture capital investment programs. (a) Establishment and operation.
2As a continuing appropriation, the amounts in the schedule for the establishment
3and operation of the Wisconsin Venture Capital Authority.

AB129,23,64 (g) Administration of the badger jobs fund. 1. All moneys received under s.
573.033 (1) (b) and (2) (b), for administration of the badger jobs fund under subch. II
6of ch. 239 and the jobs now fund program under subch. III of ch. 239.

AB129,23,97 2. Notwithstanding s. 20.001 (3) (c), if, at the end of a fiscal year, the authority
8has satisfied 100 percent of its debt with respect to the badger jobs fund, the
9unencumbered balance in this appropriation shall lapse to the general fund.

AB129,23,1110 3. No moneys may be received in this appropriation after the badger jobs fund
11is dissolved under s. 239.11 (3) (a).

AB129,23,1313 40.02 (54) (n) The Wisconsin Venture Capital Authority.

AB129,23,1715 70.11 (38v) Wisconsin Venture Capital Authority. All property owned by the
16Wisconsin Venture Capital Authority, provided that use of the property is primarily
17related to the purposes of the Wisconsin Venture Capital Authority.

AB129,23,2419 71.05 (6) (a) 15. The amount of the credits computed under s. 71.07 (2dd), (2de),
20(2di), (2dj), (2dL), (2dm), (2dr), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r),
21(3rm), (3rn), (3s), (3t), (3w), (5e), (5f), (5h), (5i), (5j), (5k), (5r), (5rm), and (8r), and (8s)
22and not passed through by a partnership, limited liability company, or tax-option
23corporation that has added that amount to the partnership's, company's, or
24tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g).

AB129,24,2

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171.05 (6) (a) 25. The amount of the credits received under ss. 71.07 (8s) (e),
271.28 (8s) (e), and 71.47 (8s) (e).

AB129,24,64 71.05 (6) (a) 26. The amount received for the sale or transfer of credits received
5under ss. 71.07 (8s) (e), 71.28 (8s) (e), and 71.47 (8s) (e), including the fair market
6value of property received.

AB129,24,148 71.05 (6) (b) 48. The amount of the credits sold or transferred to another person
9under s. 71.07 (8s) (e) in the taxable year that has been added to income under par.
10(a) 15. in the taxable year or in a previous taxable year. A partner, member of a
11limited liability company, or shareholder of a tax-option corporation who sells or
12transfers a credit may subtract the amount of the credit sold or transferred to the
13extent that it was included in the partner's, member's, or shareholder's distributive
14share of income.

AB129,24,1716 71.07 (8s) Badger jobs fund bonds credit. (a) Definition. In this subsection,
17"claimant" means a person who files a claim under this subsection.

AB129,24,2218 (b) Filing claims. Subject to the limitations provided in this subsection and s.
19239.11, for taxable years beginning after December 31, 2016, a claimant who
20purchases bonds issued under s. 239.11 (2) and who has been awarded a credit under
21s. 239.14, may claim as a credit against the tax imposed under s. 71.02, up to the
22amount of the tax, the amount determined under s. 239.14.

AB129,25,623 (c) Limitations. Partnerships, limited liability companies, and tax-option
24corporations may not claim the credit under this subsection, but the eligibility for,
25and the amount of, the credit are based on their purchase of bonds issued under s.

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1239.11 (2) for which a credit has been awarded under s. 239.14. A partnership,
2limited liability company, or tax-option corporation shall compute the amount of
3credit that each of its partners, members, or shareholders may claim and shall
4provide that information to each of them. Partners, members of limited liability
5companies, and shareholders of tax-option corporations may claim the credit in
6proportion to their ownership interests.

AB129,25,127 (d) Carry-forward. 1. If a credit computed under this subsection is not entirely
8offset against Wisconsin income or franchise taxes otherwise due, the unused
9balance may be carried forward and credited against Wisconsin income or franchise
10taxes otherwise due for the following taxable years to the extent not offset by these
11taxes otherwise due in all intervening years between the year in which the expense
12was incurred and the year in which the carry-forward credit is claimed.

AB129,25,1413 2. The amount of the carry-forward computed under subd. 1. shall be reduced
14by the amount of any credit transferred under par. (e).

AB129,25,2215 (e) Sale of credit. A person who is awarded a credit under s. 239.14, or to whom
16a credit is transferred as provided under this paragraph, may sell or otherwise
17transfer the credit to another person who is subject to the tax imposed under s. 71.02,
1871.23, or 71.43 if the person notifies the department of revenue and the Wisconsin
19Venture Capital Authority created under ch. 239 of the transfer and includes with
20the notification a copy of the transfer documents. No credit may be sold or
21transferred under this paragraph until 180 days after the date on which the person
22becomes eligible to claim the credit.

AB129,25,2423 (f) Administration. 1. Section 71.28 (4) (e), (g), and (h), as it applies to the credit
24under s. 71.28 (4), applies to the credit under this subsection.

AB129,25,2525 2. The department shall promulgate rules to administer this subsection.

AB129,26,22 71.10 (4) (ds) Badger jobs fund bonds credit under s. 71.07 (8s).

AB129,26,74 71.21 (4) Credits computed by a partnership under s. 71.07 (2dd), (2de), (2di),
5(2dj), (2dL), (2dm), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3s),
6(3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), and (8r), and (8s) and passed
7through to partners shall be added to the partnership's income.

AB129,26,1410 71.26 (1) (be) Certain authorities. Income of the University of Wisconsin
11Hospitals and Clinics Authority, of the Health Insurance Risk-Sharing Plan
12Authority, of the Fox River Navigational System Authority, of the Wisconsin
13Economic Development Corporation, of the Wisconsin Venture Capital Authority,
14and of the Wisconsin Aerospace Authority.

AB129,26,2317 71.26 (2) (a) 4. Plus the amount of the credit computed under s. 71.28 (1dd),
18(1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (1dy), (3g), (3h), (3n), (3p), (3q), (3r),
19(3rm), (3rn), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), (8r), (8s), and
20(9s) and not passed through by a partnership, limited liability company, or
21tax-option corporation that has added that amount to the partnership's, limited
22liability company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1k)
23(g).

AB129,27,2

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171.26 (2) (a) 4c. Plus the amount of credits received from another person under
2ss. 71.07 (8s) (e), 71.28 (8s) (e), and 71.47 (8s) (e).

AB129,27,64 71.26 (2) (a) 4d. Plus the amount received for the sale or transfer of credits
5under ss. 71.07 (8s) (e), 71.28 (8s) (e), and 71.47 (8s) (e), including the fair market
6value of property received.

AB129,27,98 71.26 (2) (a) 4e. Minus the amount of credits sold or transferred under ss. 71.07
9(8s) (e), 71.28 (8s) (e), and 71.47 (8s) (e).

AB129,27,1211 71.28 (8s) Badger jobs fund bonds credit. (a) Definition. In this subsection,
12"claimant" means a person who files a claim under this subsection.

AB129,27,1713 (b) Filing claims. Subject to the limitations provided in this subsection and s.
14239.11, for taxable years beginning after December 31, 2016, a claimant who
15purchases bonds issued under s. 239.11 (2) and who has been awarded a credit under
16s. 239.14, may claim as a credit against the tax imposed under s. 71.23, up to the
17amount of the tax, the amount determined under s. 239.14.

AB129,28,218 (c) Limitations. Partnerships, limited liability companies, and tax-option
19corporations may not claim the credit under this subsection, but the eligibility for,
20and the amount of, the credit are based on their purchase of bonds issued under s.
21239.11 (2) for which a credit has been awarded under s. 239.14. A partnership,
22limited liability company, or tax-option corporation shall compute the amount of
23credit that each of its partners, members, or shareholders may claim and shall
24provide that information to each of them. Partners, members of limited liability

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1companies, and shareholders of tax-option corporations may claim the credit in
2proportion to their ownership interests.

AB129,28,83 (d) Carry-forward. 1. If a credit computed under this subsection is not entirely
4offset against Wisconsin income or franchise taxes otherwise due, the unused
5balance may be carried forward and credited against Wisconsin income or franchise
6taxes otherwise due for the following taxable years to the extent not offset by these
7taxes otherwise due in all intervening years between the year in which the expense
8was incurred and the year in which the carry-forward credit is claimed.

AB129,28,109 2. The amount of the carry-forward computed under subd. 1. shall be reduced
10by the amount of any credit transferred under par. (e).

AB129,28,1811 (e) Sale of credit. A person who is awarded a credit under s. 239.14, or to whom
12a credit is transferred as provided under this paragraph, may sell or otherwise
13transfer the credit to another person who is subject to the tax imposed under s. 71.02,
1471.23, or 71.43 if the person notifies the department of revenue and the Wisconsin
15Venture Capital Authority created under ch. 239 of the transfer and includes with
16the notification a copy of the transfer documents. No credit may be sold or
17transferred under this paragraph until 180 days after the date on which the person
18becomes eligible to claim the credit.

AB129,28,2019 (f) Administration. 1. Subsection (4) (e), (g), and (h), as it applies to the credit
20under sub. (4), applies to the credit under this subsection.

AB129,28,2121 2. The department shall promulgate rules to administer this subsection.

AB129,28,2323 71.30 (3) (dn) Badger jobs fund bonds credit under s. 71.28 (8s).

AB129,29,4

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171.34 (1k) (g) An addition shall be made for credits computed by a tax-option
2corporation under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (1dy),
3(3), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j),
4(5k), (5r), (5rm), and (8r), and (8s) and passed through to shareholders.

AB129,29,137 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit
8computed under s. 71.47 (1dd) to (1dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn),
9(3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), (8r), (8s), and (9s) and not passed
10through by a partnership, limited liability company, or tax-option corporation that
11has added that amount to the partnership's, limited liability company's, or
12tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g) and the amount
13of credit computed under s. 71.47 (1), (3), (3t), (4), (4m), and (5).

AB129,29,1615 71.45 (2) (a) 10c. By adding to federal taxable income the amount of credits
16received from another person under ss. 71.07 (8s) (e), 71.28 (8s) (e), 71.47 (8s) (e).

AB129,29,2018 71.45 (2) (a) 10d. By adding to federal taxable income the amount received for
19the sale or transfer of credits under ss. 71.07 (8s) (e), 71.28 (8s) (e), and 71.47 (8s) (e),
20including the fair market value of property received.

AB129,29,2322 71.45 (2) (a) 10e. By subtracting from federal taxable income the amount of
23credits sold or transferred under ss. 71.07 (8s) (e), 71.28 (8s) (e), and 71.47 (8s) (e).

AB129,30,2

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171.47 (8s) Badger jobs fund bonds credit. (a) Definition. In this subsection,
2"claimant" means a person who files a claim under this subsection.

AB129,30,73 (b) Filing claims. Subject to the limitations provided in this subsection and s.
4239.11, for taxable years beginning after December 31, 2016, a claimant who
5purchases bonds issued under s. 239.11 (2) and who has been awarded a credit under
6s. 239.14, may claim as a credit against the tax imposed under s. 71.43, up to the
7amount of the tax, the amount determined under s. 239.14.

AB129,30,168 (c) Limitations. Partnerships, limited liability companies, and tax-option
9corporations may not claim the credit under this subsection, but the eligibility for,
10and the amount of, the credit are based on their purchase of bonds issued under s.
11239.11 (2) for which a credit has been awarded under s. 239.14. A partnership,
12limited liability company, or tax-option corporation shall compute the amount of
13credit that each of its partners, members, or shareholders may claim and shall
14provide that information to each of them. Partners, members of limited liability
15companies, and shareholders of tax-option corporations may claim the credit in
16proportion to their ownership interests.

AB129,30,2217 (d) Carry-forward. 1. If a credit computed under this subsection is not entirely
18offset against Wisconsin income or franchise taxes otherwise due, the unused
19balance may be carried forward and credited against Wisconsin income or franchise
20taxes otherwise due for the following taxable years to the extent not offset by these
21taxes otherwise due in all intervening years between the year in which the expense
22was incurred and the year in which the carry-forward credit is claimed.

AB129,30,2423 2. The amount of the carry-forward computed under subd. 1. shall be reduced
24by the amount of any credit transferred under par. (e).

AB129,31,8

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1(e) Sale of credit. A person who is awarded a credit under s. 239.14, or to whom
2a credit is transferred as provided under this paragraph, may sell or otherwise
3transfer the credit to another person who is subject to the tax imposed under s. 71.02,
471.23, or 71.43 if the person notifies the department of revenue and the Wisconsin
5Venture Capital Authority created under ch. 239 of the transfer and includes with
6the notification a copy of the transfer documents. No credit may be sold or
7transferred under this paragraph until 180 days after the date on which the person
8becomes eligible to claim the credit.

AB129,31,109 (f) Administration. 1. Section 71.28 (4) (e), (g), and (h), as it applies to the credit
10under s. 71.28 (4), applies to the credit under this subsection.

AB129,31,1111 2. The department shall promulgate rules to administer this subsection.

AB129,31,1313 71.49 (1) (dn) Badger jobs fund bonds credit under s. 71.47 (8s).

AB129,31,20 1573.033 Jobs now fund and badger jobs fund investments; withholding
16tax determinations. (1) (a) The department of revenue, in consultation with the
17Wisconsin Venture Capital Authority created under ch. 239, shall determine the
18amount of the withholding taxes under subch. X of ch. 71 paid by each business that
19receives an investment under s. 239.13 (2) for the year prior to the first year in which
20each business receives the investment.

AB129,32,321 (b) Each year, for 15 years following the first year in which a business receives
22an investment under s. 239.13 (2), the department shall credit to the appropriation
23account under s. 20.195 (1) (g) an amount equal to 50 percent of the increase, if any,
24in withholding taxes under subch. X of ch. 71 paid by all businesses that receive
25investments under s. 239.13 (2) over the amount determined for all such businesses

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1under par. (a). The department shall credit the amounts determined under this
2subsection on a quarterly basis based on its estimate of the total annual increase in
3the withholding taxes described in this subsection.

AB129,32,8 4(2) (a) The department of revenue, in consultation with the Wisconsin Venture
5Capital Authority created under ch. 239, shall determine the amount of the
6withholding taxes under subch. X of ch. 71 paid by each business that receives an
7investment under s. 239.23 (2) for the year prior to the first year in which each
8business receives the investment.

AB129,32,169 (b) Each year, for 15 years following the first year in which a business receives
10an investment under s. 239.23 (2), the department shall credit to the appropriation
11account under s. 20.195 (1) (g) an amount equal to 50 percent of the increase, if any,
12in withholding taxes under subch. X of ch. 71 paid by all businesses that receive
13investments under s. 239.23 (2) over the amount determined for all such businesses
14under par. (a). The department shall credit the amounts determined under this
15subsection on a quarterly basis based on its estimate of the total annual increase in
16the withholding taxes described in this subsection.

AB129,32,19 1876.634 Credit for jobs now fund investments. (1) Definitions. In this
19section:

AB129,32,2020 (a) "Allocation date" has the meaning given in s. 239.20 (2).

AB129,32,2121 (b) "Certified jobs now fund" has the meaning given in s. 239.20 (3).

AB129,32,2222 (c) "Designated capital" has the meaning given in s. 239.20 (4).

AB129,33,3 23(2) Credit. Subject to the limitations provided in this section and s. 239.22, for
24taxable years beginning after December 31, 2013, an insurer who makes an
25investment of designated capital and who has been awarded a credit under s. 239.22

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1(2) (a), may claim as a credit against the fees imposed under s. 76.60, 76.63, 76.65,
276.66, or 76.67, up to the amount of such fees, the amount determined under s. 239.22
3(2) (b).

AB129,33,9 4(3) Carry-forward. If the credit under sub. (2) is not entirely offset against the
5fees under s. 76.60, 76.63, 76.65, 76.66 or 76.67 otherwise due, the unused balance
6may be carried forward and credited against those fees in the following years to the
7extent that it is not offset by those fees otherwise due in all the years between the
8year in which the initial credit is claimed and the year in which the carry-forward
9credit is claimed.

AB129,33,17 10(4) Recapture. If a certified jobs now fund in which the insurer's designated
11capital has been invested is decertified under s. 239.26 (2) (b) and the jobs now fund
12has not made the investments required under s. 239.23 (4) (a) and (b) within 4 years
13after the allocation date for the insurer's investment, any insurer that has received
14a credit under this section with the same allocation date with respect to such
15decertified jobs now fund shall repay the credit amount to the commissioner of
16insurance, for deposit into the general fund, and may not claim any more credits
17under this section with respect to the decertified jobs now fund.

AB129,34,3 18(5) Sale of credit. An insurer who is awarded a credit under s. 239.22 (2) (a),
19or to whom a credit is sold or transferred as provided under this subsection, may sell
20or otherwise transfer the credit to another insurer who is subject to the fees imposed
21under s. 76.60, 76.63, 76.65, 76.66, or 76.67 if the insurer notifies the commissioner
22of insurance and the Wisconsin Venture Capital Authority created under ch. 239 of
23the sale or transfer and includes with the notification a copy of the sale or transfer
24documents. If a credit that has been sold or transferred under this subsection is
25subject to recapture under sub. (4), the person who claimed the credit is liable for the

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1repayment provided under sub. (4). No credit may be sold or transferred under this
2subsection until 180 days after the date on which the person becomes eligible to claim
3the credit.