Wisconsin Legislative Council
AMENDMENT MEMO
One Ea st Ma in Stre e t, Suite 401 • Ma dison, W I 53703 • (608) 266-1304 • le g.council@le gis.wisconsin.gov • http://www.le gis.wisconsin.gov/lc
Memo published: February 19, 2024 Contact: Ethan Lauer, Senior Staff Attorney
2023 Assembly Bill 932
Assembly Substitute
Amendment 1
BACKGROUND
The Wisconsin Economic Development Corporation (WEDC) administers a program to certify
businesses for purposes of the angel investment tax credit and the early stage seed investment tax
credit. WEDC may certify or recertify a business for these tax credits only if the business meets several
requirements. A business may fulfill one of those requirements if the business does either of the
following:
1. Engages in, or has committed to engage in, innovation in any of the following:
a. Manufacturing, biotechnology, nanotechnology, communications, agriculture, or clean energy
creation or storage technology.
b. Processing or assembling certain innovative technology products or other products that are
produced using manufacturing methods that are enabled by applying differentiating technology.
c. Services that are enabled by applying differentiating technology.
2. Undertakes 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.
2023 ASSEMBLY BILL 932
2023 Assembly Bill 932 repeals the first item listed above. It leaves the second item as the only option
for a business to fulfill the requirement.
ASSEMBLY SUBSTITUTE AMENDMENT 1
Assembly Substitute Amendment 1 amends—rather than repeals—the first item listed above. Under the
amendment, a business could fulfill the requirement for certification or recertification either under the
second item or if the business engages in, or has committed to engage in, innovation, if the innovation
involves the development of a differentiating technology, product, service, or production process.
The amendment also makes the bill applicable to a business that is first certified on the bill’s effective
date. - 2 -
BILL HISTORY
Representative Wittke offered Assembly Substitute Amendment 1 on February 8, 2024. On February 14,
2024, the Assembly Committee on State Affairs recommended adoption of the amendment and passage
of the bill, as amended, each on a vote of Ayes, 13; Noes, 0.
For a full history of the bill, visit the Legislature’s bill history page.
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