The program gives tax credits to certain investors in small Wisconsin companies that participate in the QNBV program, which is managed by WEDC. The tax credits amount to 25 percent of the investments.
But companies can only receive $8 million in investments that qualify for the tax credits. The bill from Rep. Mike Kuglitsch, R-New Berlin, would raise that limit to $12 million.
“This change will entice investors across the state to continue to invest in Wisconsin’s growing businesses,” Kuglitsch said in a co-sponsorship memo to lawmakers. “Capital is always one of the biggest hurdles start-up businesses have when they are attempting to turn their ideas into real job generators.”
Gov. Scott Walker’s 2015-17 budget proposal included the proposal, but the Joint Finance Committee removed it.
According to a Legislative Fiscal Bureau paper from last May, four businesses had already hit the $8 million limit and 34 other companies were close to it.