Date of enactment: March 21, 2024
2023 Assembly Bill 933 Date of publication*: March 22, 2024
2023 WISCONSIN ACT 145
AN ACT to amend 238.15 (3) (e) of the statutes; relating to: transferring the angel investment tax credit.
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 corpora-
tion and the department of revenue of the transfer and
submits with the notification a copy of the transfer docu-
ments. 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 per-
son 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 per-
son selling or otherwise transferring a credit under this
paragraph a fee of up to 5 percent of the credit amount
sold or transferred.
SECTION 1m.0Initial applicability.
(1) This act first applies to a credit under s. 71.07 (5d)
that a person was approved by the Wisconsin Economic
Development Corporation to claim on the effective date
of this subsection.
* Section 991.11, WISCONSIN STATUTES: Effective date of acts. “Every act and every portion of an act enacted by the legislature over the governor’s
partial veto which does not expressly prescribe the time when it takes effect shall take effect on the day after its date of publication.”