Senate Bill 308
Deposit placement programs of public depositories
Became law
The governor signed it on Apr 3, 2012. It's .
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Introduced, passed
Nov 28, 2011
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Committee, passed
Approved
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Senate vote, passed
Passed Mar 6, 2012
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Assembly vote, passed
Passed Mar 13, 2012
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Governor, passed
Signed
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Law, here now
2011 Wisconsin Act 204
Latest entry in the official record, Apr 5, 2012: “Published 4-16-2012”
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Terms on this page
Wisconsin Act
The number a bill gets when it becomes law, like 2025 Wisconsin Act 12.
Official term: Act. More in the glossary
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis. More in the glossary
Author
A lawmaker who formally puts a bill forward. The text itself is drafted by the Legislative Reference Bureau.
Official term: Author, coauthor. More in the glossary
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor. More in the glossary
Roll call
A vote where each lawmaker's yes or no is recorded by name.
Official term: Roll call vote. More in the glossary
What it does
Summary by the , the Legislature's nonpartisan drafting office. It's their wording, not ours.
Under current law, the governing board of a public depositor must designate one or more public depositories in which the treasurer must deposit all public moneys received by the treasurer and must specify whether these public moneys are to be maintained in time deposits, demand deposits, or savings deposits and whether security is required of the public depository to secure the repayment of deposits exceeding deposit insurance. A treasurer must deposit public moneys immediately upon receipt in the designated public depository or public depositories. These requirements apply to the state, local governments, and certain other depositors. A "treasurer" is not limited to an elected official but includes any public official or employee whose duties require that he or she receive and account for public moneys.
A "public depository" includes a federal or state credit union, federal or state savings and loan association, state bank, savings and trust company, federal or state savings bank, or national bank in this state that receives or holds any public deposits. A treasurer who deposits public moneys in a public depository in compliance with the foregoing requirements is relieved of liability for any loss of public moneys that results from the failure of the public depository to repay the full amount of its deposits.
Read the full summary Show less
Under this bill, a public depositor may direct its treasurer to deposit public moneys in a selected public depository and, directly or through an authorized agent, instruct the public depository to arrange for the redeposit of the moneys through a deposit placement program that meets all of the following conditions: 1) on or after the date that it receives the public moneys, the selected public depository arranges for the redeposit of the moneys into savings deposit accounts in one or more federal or state savings and loan associations, state banks, federal or state savings banks, savings and trust companies, or national banks insured by the federal deposit insurance corporation (FDIC) or federal or state credit unions insured by the national credit union administration (NCUA); and 2) the full amount of the public depositor's moneys redeposited with these financial institutions, plus any accrued interest, are insured by the FDIC OR NCUA. A treasurer who deposits public moneys in a selected public depository as part of such a deposit placement program is relieved of liability for loss.
Who's behind it
3 senators are its . 2 are Democrats and 1 is a Republican.
3 more lawmakers .
See all 6 names Hide the names
Authors (3)
- Tim Carpenter · Democrat, Senate
- Glenn Grothman · Republican, Senate
- Lena Taylor · Democrat, Senate
Signed on in support (3)
- Steve Kestell · Republican, Assembly
- Bill Kramer · Republican, Assembly
- Richard Spanbauer · Republican, Assembly
How lawmakers voted
There was one vote on this bill.
Senate Committee on Financial Institutions and Rural Issues vote to recommend it
Passed, 5 to 0 · Dec 14, 2011
No member-by-member record exists for this vote. Committee votes and some older sessions record totals only.
Official motion: “Report passage recommended by committee on Financial Institutions and Rural Issues, Ayes 5, Noes 0”. Official record · This vote on its own page
What happened
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Apr 5, 2012
The new law was published.
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Apr 3, 2012
The governor signed it. It became 2011 Wisconsin Act 204.
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Mar 30, 2012
Sent to the governor.
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Mar 13, 2012
The Assembly passed it too.
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Mar 6, 2012
Sent to the Assembly Committee on Rules.
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Mar 6, 2012
The Assembly received it.
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Mar 6, 2012
The Senate passed it.
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Dec 14, 2011
The committee voted to recommend passing it, 5 to 0.
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Nov 30, 2011
The committee held a public hearing.
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Nov 28, 2011
Sent to the Senate Committee on Financial Institutions and Rural Issues.
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Nov 28, 2011
Introduced in the Senate.
See the official record, word for word Hide the official record
- Nov 28, 2011 · Senate
Introduced by Senators Grothman, Carpenter and Taylor;Cosponsored by Representatives Kramer, Spanbauer and Kestell
- Nov 28, 2011 · Senate
Read first time and referred to committee on Financial Institutions and Rural Issues
- Nov 30, 2011 · Senate
Public hearing held
- Dec 14, 2011 · Senate
Executive action taken
- Dec 14, 2011 · Senate
Report passage recommended by committee on Financial Institutions and Rural Issues, Ayes 5, Noes 0
- Dec 14, 2011 · Senate
Available for scheduling
- Mar 5, 2012 · Senate
Placed on calendar 3-6-2012 pursuant to Senate Rule 18(1)
- Mar 6, 2012 · Senate
Read a second time
- Mar 6, 2012 · Senate
Ordered to a third reading
- Mar 6, 2012 · Senate
Rules suspended
- Mar 6, 2012 · Senate
Read a third time and passed
- Mar 6, 2012 · Senate
Ordered immediately messaged
- Mar 6, 2012 · Assembly
Received from Senate
- Mar 6, 2012 · Assembly
Read first time and referred to committee on Rules
- Mar 6, 2012 · Assembly
Made a special order of business at 11:19 A.M. on 3-13-2012 pursuant to Assembly Resolution 22
- Mar 13, 2012 · Assembly
Read a second time
- Mar 13, 2012 · Assembly
Ordered to a third reading
- Mar 13, 2012 · Assembly
Rules suspended
- Mar 13, 2012 · Assembly
Read a third time and concurred in
- Mar 13, 2012 · Assembly
Ordered immediately messaged
- Mar 13, 2012 · Senate
Received from Assembly concurred in
- Mar 20, 2012 · Senate
Report correctly enrolled on 3-20-2012
- Mar 30, 2012 · Senate
Presented to the Governor on 3-30-2012
- Apr 3, 2012 · Senate
Report approved by the Governor on 4-2-2012. 2011 Wisconsin Act 204
- Apr 5, 2012 · Senate
Published 4-16-2012
Terms on this page
Wisconsin Act
The number a bill gets when it becomes law, like 2025 Wisconsin Act 12.
Official term: Act. More in the glossary
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis. More in the glossary
Author
A lawmaker who formally puts a bill forward. The text itself is drafted by the Legislative Reference Bureau.
Official term: Author, coauthor. More in the glossary
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor. More in the glossary
Roll call
A vote where each lawmaker's yes or no is recorded by name.
Official term: Roll call vote. More in the glossary
From the Wisconsin Legislature's official record, checked Sep 15, 2026. See the source
Wisconsin Act
The number a bill gets when it becomes law, like 2025 Wisconsin Act 12.
Official term: Act
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor
Roll call
A vote where each lawmaker's yes or no is recorded by name.
Official term: Roll call vote