Venture capital bill appears dead this session

MADISON, Wis. — The latest state budget analysis in Wisconsin may have dashed hopes for a compromise on venture capital legislation this floor session.

Republican Sen. Alberta Darling led Senate effort to draft the legislation, which became bogged down with months of debate and concerns over how much taxpayer money should be spent to try to boost venture capital for start-up companies and small business.

Darling says the legislation may be dead for now because the revenue isn’t there. An analysis by the Legislative Fiscal Bureau last week found the state would face a budget shortfall of more than $143 million in 2013 because tax revenue is lower than expected.

Democratic Sen. Julie Lassa has been a longtime supporter of efforts to boost venture capital. Lassa tells the State Journal the budget analysis is a “convenient excuse” for Republicans.