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2023 - 2024 LEGISLATURE
2023 SENATE BILL 881
January 5, 2024 - Introduced by Senators B RADLEY, PFAFF, BALLWEG,
CABRAL-GUEVARA, NASS, ROYS and SPREITZER, cosponsored by Representatives
OLDENBURG, DOYLE, EDMING, BEHNKE, CONLEY, CONSIDINE, JACOBSON, JOERS,
MAXEY, O'CONNOR, PALMERI, RETTINGER, SAPIK, SCHMIDT, SHANKLAND and
SUBECK. Referred to Committee on Financial Institutions and Sporting
Heritage.
***AUTHORS SUBJECT TO CHANGE***
AN ACT to amend 183.0122 (2) (d) 1. a. of the statutes; relating to: the fee for
filing limited liability company articles of organization with the Department of
Financial Institutions.
Analysis by the Legislative Reference Bureau
This bill expands the filing fee exception for a student entrepreneur who forms
a limited liability company (LLC).
Current law establishes a fee of $130 for filing LLC articles of organization with
the Department of Financial Institutions. However, DFI may not collect this fee if
the LLC members or organizers are all student entrepreneurs. A “student
entrepreneur" is defined as a student who is at least 18 years of age, enrolled in a
postsecondary institution in this state, and an organizer or member of an LLC
formed as a business start-up.
This bill expands the definition of “student entrepreneur” to include a student
enrolled in a public, private, or tribal high school in this state.
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:
SECTION 1. 183.0122 (2) (d) 1. a. of the statutes is amended to read:
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SECTION 1 SENATE BILL 881
183.0122 (2) (d) 1. a. The student is enrolled in a postsecondary institution in
this state or in a public, private, or tribal high school in this state.
SECTION 2.0Initial applicability.
(1) This act first applies to articles of organization filed on the effective date of
this subsection.
SECTION 3.0Effective date.
(1) This act takes effect on the first day of the 2nd month beginning after
publication.
(END)
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