A proposal to raise the longstanding “lifetime cap” on how much money can be raised by emerging technology firms and still quality for state investor tax credits will be discussed at the Sept. 26 Tech Council Innovation Network luncheon in Madison.
Hear two prominent state legislators, a leading investor and a tech executive whose Milwaukee-based biotech company is poised for growth discuss proposed changes to Wisconsin’s Act 255 investor tax credits law, which has spurred tech company and job creation since 2005.
The luncheon will be held at the Sheraton Hotel on Madison’s John Nolen Drive. Registration and networking begin at 11:30 a.m., lunch at noon and the presentation at 12:30 p.m. The cost is $10 for students and Bunker Labs members, $25 for individual members, $35 for non-members and included for Tech Council corporate members. Click here to register.
Under consideration in the Wisconsin Legislature is a bill draft to raise the $8 million lifetime cap on how much money can be raised by Qualified New Business Venture companies (Act 255) to $12 million. The law offers a 25 percent tax credit to investors in QNVB companies.
Panelists will include Sen. Tom Tiffany, R-Hazelhurst; Rep. Mike Kuglitsch, R-New Berlin; John Neis, managing director of Venture Investors LLC and president of the Wisconsin Venture Capital Association; and Frank Langley, chief executive officer of Tai Diagnostics, a Wauwatosa firm that has developed a non-invasive test to monitor transplant patients. Tech Council President Tom Still will moderate.
“Raising the historic lifetime ceiling will help many emerging companies, especially those with higher capital needs, as they grow, add jobs and engage with suppliers across Wisconsin,” said Tech Council President Tom Still.
This luncheon is sponsored by BMO Harris Bank.
The Wisconsin Technology Council is the independent, non-profit science and technology adviser to the governor and Legislature, with events, publications and outreach that contribute to Wisconsin’s tech-based economy. Visit www.wisconsintechnologycouncil.com or call 608-442-7557 to join.