Bill
Bill > SB315
summary
Introduced
06/06/2025
06/06/2025
In Committee
01/07/2026
01/07/2026
Crossed Over
10/14/2025
10/14/2025
Passed
01/15/2026
01/15/2026
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
AN ACT to amend 224.72 (4) (b) of the statutes; relating to: the minimum net worth requirement for licensed mortgage brokers.
AI Summary
This bill amends Wisconsin Statute 224.72 (4) (b) to remove the minimum net worth requirement for licensed mortgage brokers, which was previously $100,000, while maintaining the $250,000 net worth requirement for mortgage bankers. Net worth refers to the total assets of a business minus its liabilities, essentially representing its financial health and ability to cover debts. The bill clarifies that the requirement for submitting financial statements reviewed by an independent certified public accountant will no longer apply to mortgage brokers.
Committee Categories
Budget and Finance
Sponsors (10)
Chris Kapenga (R)*,
Rob Stafsholt (R)*,
Robert Brooks (R),
Benjamin Franklin (R),
Russell Goodwin (D),
Chanz Green (R),
Dan Knodl (R),
Rob Kreibich (R),
Jerry O'Connor (R),
Jim Piwowarczyk (R),
Last Action
Report correctly enrolled (on 01/15/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://docs.legis.wisconsin.gov/2025/proposals/reg/sen/bill/sb315 |
| BillText | https://docs.legis.wisconsin.gov/document/enrolledbills/2025/REG/SB315.pdf |
| SB315 ROCP for Committee on Financial Institutions and Sporting Heritage On 9/23/2025 | https://docs.legis.wisconsin.gov/2025/related/records/senate/financial_institutions_and_sporting_heritage/1943714.pdf |
| BillText | https://docs.legis.wisconsin.gov/document/proposaltext/2025/REG/SB315.pdf |
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