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Bills · 2011-2012 Regular Session

SB 356

Became law Official bill text Atom feed

the authority of credit unions to make donations and grants.

  1. Introduced, completed
  2. Passes Senate, completed
  3. Passes Assembly, completed
  4. Governor signs, completed
  5. Law, completed

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

Current law specifies various powers of credit unions. Among these powers, a

credit union may make donations and grants, subject to the limitation that the total

donations and grants may not exceed 0.5 percent of its regular reserves within the

year.

This bill increases, from 0.5 percent to 1.0 percent, the limitation on the amount

of donations and grants a credit union may make and requires that any donation or

grant be approved by the credit union's board of directors based on a determination

that the donation or grant is in the best interest of the credit union and is reasonable

given the size and financial condition of the credit union.

Sponsors

Introduced by: Cowles (R) , Grothman (R) , Hansen (D) , Lassa (D) , Moulton (R) , S. Coggs (D) , Schultz (R) , Wanggaard (R)

18 cosponsors

A. Ott (R) , Bewley (D) , Brooks, Staskunas, Nygren, Craig, Danou, Honadel, Pocan and Zepnick , C. Taylor (D) , Endsley (R) , Fields (D) , Jacque (R) , Kaufert (R) , Kerkman (R) , Kooyenga (R) , Krug (R) , LeMahieu (R) , Molepske Jr (D) , Spanbauer (R) , Stroebel (R) , Tauchen (R) , Vinehout (D) , Wynn (R)

Votes

Senate: Report passage recommended by committee on Financial Institutions and Rural Issues, Ayes 5, Noes 0

Passed 5–0 Jan 12, 2012 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Assembly: Report concurrence recommended by committee on Financial Institutions, Ayes 13, Noes 0

Passed 13–0 Feb 13, 2012 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Full history

  1. Dec 30, 2011 · Senate

    Introduced by Senators Grothman, Lassa, Schultz, S. Coggs, Wanggaard, Moulton, Hansen and Cowles;Cosponsored by Representatives Kooyenga, Krug, Jacque, Spanbauer, Kerkman, A. Ott, Stroebel, Wynn, Molepske Jr, Tauchen, Fields, C. Taylor, LeMahieu, Bewley, Kaufert and Endsley

  2. Dec 30, 2011 · Senate

    Read first time and referred to committee on Financial Institutions and Rural Issues

  3. Jan 4, 2012 · Senate

    Public hearing held

  4. Jan 11, 2012 · Senate

    Executive action taken

  5. Jan 12, 2012 · Senate

    Report passage recommended by committee on Financial Institutions and Rural Issues, Ayes 5, Noes 0

  6. Jan 12, 2012 · Senate

    Available for scheduling

  7. Jan 23, 2012 · Senate

    Placed on calendar 1-24-2012 pursuant to Senate Rule 18(1)

  8. Jan 24, 2012 · Senate

    Rules suspended

  9. Jan 24, 2012 · Senate

    Read a third time and passed

  10. Jan 24, 2012 · Senate

    Ordered immediately messaged

  11. Jan 24, 2012 · Assembly

    Received from Senate

  12. Jan 24, 2012 · Assembly

    Read first time and referred to committee on Financial Institutions

  13. Jan 24, 2012 · Senate

    Senator Vinehout added as a coauthor

  14. Jan 24, 2012 · Senate

    Read a second time

  15. Jan 24, 2012 · Senate

    Ordered to a third reading

  16. Feb 1, 2012 · Assembly

    Public hearing held

  17. Feb 1, 2012 · Assembly

    Executive action taken

  18. Feb 13, 2012 · Assembly

    Report concurrence recommended by committee on Financial Institutions, Ayes 13, Noes 0

  19. Feb 13, 2012 · Assembly

    Referred to committee on Rules

  20. Feb 14, 2012 · Assembly

    Placed on calendar 2-16-2012 by committee on Rules

  21. Feb 16, 2012 · Assembly

    Read a second time

  22. Feb 16, 2012 · Assembly

    Ordered to a third reading

  23. Feb 16, 2012 · Assembly

    Rules suspended

  24. Feb 16, 2012 · Assembly

    Read a third time and concurred in

  25. Feb 16, 2012 · Assembly

    Ordered immediately messaged

  26. Feb 17, 2012 · Senate

    Received from Assembly concurred in

  27. Feb 22, 2012 · Senate

    Representatives Brooks, Staskunas, Nygren, Craig, Danou, Honadel, Pocan and Zepnick added as a cosponsors

  28. Mar 1, 2012 · Senate

    Report correctly enrolled on 3-1-2012

  29. Mar 30, 2012 · Senate

    Presented to the Governor on 3-30-2012

  30. Apr 3, 2012 · Senate

    Report approved by the Governor on 4-2-2012. 2011 Wisconsin Act 205

  31. Apr 5, 2012 · Senate

    Published 4-16-2012