Wisconsin SB315: An Act to amend 224.72 (4) (b) of the statutes; Relating to: the minimum net worth requirement for licensed mortgage brokers.

What the bill says

An Act to amend 224.72 (4) (b) of the statutes; relating to: the minimum net worth requirement for licensed mortgage brokers.

From the enrolled text, January 15, 2026:

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: SB315,1Section 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

Read the full official text

Sponsors

• Stafsholt, Rob (R, SD-010) · primary sponsor
• Kapenga, Chris (R, SD-033)
• Brooks, Robert (R, HD-059)
• Franklin, Benjamin (R, HD-088)
• Goodwin, Russell (D, HD-012)
• Green, Chanz (R, HD-074)
• Knodl, Daniel (R, HD-024)
• Kreibich, Rob (R, HD-028)
• O'Connor, Jerry (R, HD-060)
• Piwowarczyk, Jim (R, HD-098)

Latest actions

1. May 13, 2026: Failed to pass notwithstanding the objections of the Governor pursuant to Joint Rule 82
2. May 12, 2026: Placed on calendar 5-12-2026 pursuant to Joint Rule 82 (2)(a)
3. March 20, 2026: Report vetoed by the Governor on 3-20-2026
4. March 18, 2026: Presented to the Governor on 3-18-2026
5. January 15, 2026: Report correctly enrolled
6. January 15, 2026: Representative Stubbs withdrawn as a cosponsor
7. January 14, 2026: Received from Assembly concurred in
8. January 13, 2026: Ordered immediately messaged
9. January 13, 2026: Read a third time and concurred in
10. January 13, 2026: Rules suspended

Common questions

What is SB315?

SB315 is a bill in the Wisconsin Legislature (2025-2026 Regular Session): An Act to amend 224.72 (4) (b) of the statutes; Relating to: the minimum net worth requirement for licensed mortgage brokers.

What does SB315 do?

In its own words: An Act to amend 224.72 (4) (b) of the statutes; relating to: the minimum net worth requirement for licensed mortgage brokers.

What is the status of SB315?

Vetoed as of May 13, 2026. Latest action: Failed to pass notwithstanding the objections of the Governor pursuant to Joint Rule 82 (May 13, 2026).

Who sponsored SB315?

Stafsholt, Rob (R, SD-010), with 9 co-sponsors.

Where is the official record for SB315?

On the Wisconsin Legislature website: https://docs.legis.wisconsin.gov/2025/proposals/sb315