SB315 • 2025

the minimum net worth requirement for licensed mortgage brokers

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Senators Stafsholt and Kapenga, cosponsored by Representatives Brooks, Franklin, Goodwin, Green, Knodl, Kreibich, O'Connor and Piwowarczyk
Last action: 2026-05-13
Official status: S - Veto sustained
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

the minimum net worth requirement for licensed mortgage brokers

the minimum net worth requirement for licensed mortgage brokers Status: S - Veto sustained

What This Bill Does

the minimum net worth requirement for licensed mortgage brokers Status: S - Veto sustained

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2026-05-13 Sen.
Failed to pass notwithstanding the objections of the Governor pursuant to Joint Rule 82
2026-05-12 Sen.
Placed on calendar 5-12-2026 pursuant to Joint Rule 82 (2)(a)
2026-03-20 Sen.
Report vetoed by the Governor on 3-20-2026
2026-03-18 Sen.
Presented to the Governor on 3-18-2026
2026-01-15 Sen.
Representative Stubbs withdrawn as a cosponsor
2026-01-15 Sen.
Report correctly enrolled
2026-01-14 Sen.
Received from Assembly concurred in
2026-01-13 Asm.
Rules suspended to withdraw from calendar and take up
2026-01-13 Asm.
Representative Stubbs added as a cosponsor
2026-01-13 Asm.
Read a second time
2026-01-13 Asm.
Ordered to a third reading
2026-01-13 Asm.
Rules suspended
2026-01-13 Asm.
Read a third time and concurred in
2026-01-13 Asm.
Ordered immediately messaged
2026-01-08 Asm.
Placed on calendar 1-13-2026 by Committee on Rules
2026-01-07 Asm.
Read first time and referred to committee on Rules
2025-10-14 Sen.
Read a second time
2025-10-14 Sen.
Ordered to a third reading
2025-10-14 Sen.
Rules suspended to give bill its third reading
2025-10-14 Sen.
Read a third time and passed
2025-10-14 Sen.
Ordered immediately messaged
2025-10-14 Asm.
Received from Senate
2025-10-13 Sen.
Placed on calendar 10-14-2025 pursuant to Senate Rule 18(1)
2025-09-23 Sen.
Executive action taken
2025-09-23 Sen.
Report passage recommended by Committee on Financial Institutions and Sporting Heritage , Ayes 3, Noes 2
2025-09-23 Sen.
Available for scheduling
2025-09-16 Sen.
Public hearing held
2025-06-06 Sen.
Introduced by Senators Stafsholt and Kapenga ; cosponsored by Representatives Brooks , Franklin , Goodwin , Green , Knodl , Kreibich , O'Connor and Piwowarczyk
2025-06-06 Sen.
Read first time and referred to Committee on Financial Institutions and Sporting Heritage

Official Summary Text

the minimum net worth requirement for licensed mortgage brokers
Status: S - Veto sustained

Current Bill Text

Read the full stored bill text

Wisconsin Legislature: SB315: Text as Enrolled

Skip navigation

Home

Documents

Senate

Assembly

Committees

Service Agencies

Docs

Options

Help

2025 Biennium

Statutes

Admin. Rules

Indices

Miscellaneous

Archives

Home

Bill, Rule, and Appointment Histories

Senators

Representatives

Committees

Text of Introduced Proposals

Amendment Text

Acts

Veto Messages

Enrolled Bills

Votes

Assembly and Senate Floor Calendars

Schedule of Committee Activities

Assembly and Senate Journals

Committee Records (ROCPs)

Legislative Rules

All Session-Related Documents

Subject Index to Acts

Subject Index to Legislation

Subject Index to Journals

Author Index to Legislation

Subject Index to Clearinghouse Rules

Miscellaneous Budget Documents

Executive Orders

Rulings of the Chair

Wisconsin Supreme Court Rules

Opinions of the Attorney General

Town Law Forms

Law

Districts

Session

Drafting Files

Feeds

Preferences

Show tree

Hide tree

Feedback

Help

Home

Senate Home

Senators

Committees

Session

Chief Clerk

Sergeant at Arms

Civics Education

Human Resources
Assembly Home

Representatives

Committees

Session

Chief Clerk

Sergeant at Arms

Human Resources
Schedule

Joint

Senate

Assembly

Study
Legislative Audit Bureau

Legislative Council

Legislative Fiscal Bureau

Legislative Human Resources Office

Legislative Reference Bureau

Legislative Technology Services Bureau

Menu
»
2025
»
Related Documents
»
Vetoed in Full
»
SB315: Text as Enrolled

Up

Up

Date of enactment:
2025 Senate Bill 315

Date of publication*:
2025 WISCONSIN ACT
An Act

to amend
224.72 (4) (b) of the statutes;
relating to:
the minimum net worth requirement for licensed mortgage brokers.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SB315,1
Section

1
.
224.72 (4) (b) of the statutes is amended to read:
224.72
(4)
(b) Submit evidence that establishes, to the division’s satisfaction, a minimum net worth of $250,000 for a mortgage banker
or $100,000 for a mortgage broker
. Evidence of net worth shall include the submission of recent financial statements accompanied by a written statement by an independent certified public accountant attesting that he or she has reviewed the financial statements in accordance with generally accepted accounting principles.
This paragraph does not apply to a mortgage broker.

Down

Down

/2025/related/vetoedinfull/sb315

true

vetoedenrolledbills

/2025/related/vetoedinfull/sb315

vetoedenrolledbills/2025/REG/SB315

vetoedenrolledbills/2025/REG/SB315

section

true

Menu
»
2025
»
Related Documents
»
Vetoed in Full
»
SB315: Text as Enrolled

×

Details for

PDF view

Link
(Permanent link)

Bookmark this location

View toggle

Go to top of document

Search in this chapter

Search in this section

Search in this agency

Search in this chapter group

Search in this chapter

Search in this section

Cross references for section

Acts affecting this section

References to this

1970 Statutes Annotations

Appellate Court Citations

Administrative Code Index

Reference lines

Clear highlighting