Senate Bill 503
Preparing the executive budget bill or bills according to generally accepted accounting principles; prohibiting the executive budget bill or bills from increasing the state's budget deficit; and requiring legislation to reduce the state's budget deficit
Topics: Administration, Department of: Budget and fiscal issues, Budget bills and process, Legislature
Stopped in committee
It never got a , so it never came up for a vote. To try again, a lawmaker would have to start a new bill.
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Introduced, passed
Feb 22, 2012
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Committee, stopped here
Stopped here. No public hearing was held.
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Senate vote, not reached
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Assembly vote, not reached
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Governor, not reached
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Law, not reached
Latest entry in the official record, Mar 23, 2012: “Failed to pass pursuant to ”
It never got a hearing in the joint committee on Finance. See every bill that never got a hearing this session.
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Terms on this page
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1. 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
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate. More in the glossary
What it would have done
Summary by the , the Legislature's nonpartisan drafting office. It's their wording, not ours.
Under current law, the Department of Administration (DOA) is required to submit, as part of the biennial budget report, a comparison of the state's budgetary surplus or deficit according to generally accepted accounting principles (GAAP), as reported in any audited financial report prepared by DOA for the most recent fiscal year, and the estimated change in the surplus or deficit based on recommendations in the biennial budget bill or bills. GAAP are those principles for state and local governments adopted by the Governmental Accounting Standards Board (GASB).
Organized in 1984, GASB is an independent organization founded to establish standards of financial accounting and reporting for state and local governmental entities. Its standards generally guide the preparation of external financial reports of those entities.
Read the full summary Show less
This bill provides that, for the fiscal biennium occurring after the fiscal year in which DOA determines that the state does not have a budget deficit according to GAAP, and each fiscal biennium thereafter, the biennial budget bill or bills must be prepared according to GAAP. In addition, the bill provides that no executive budget bill or bills may increase the state's budget deficit, if any, according to GAAP, as reported in any audited financial report prepared by DOA.
Finally, under the bill, beginning on July 1, 2013, if there is in any fiscal year a state budget deficit according to GAAP, as reported in any audited financial report prepared by DOA, each house of the legislature must pass legislation to reduce the budget deficit by the lesser of $100,000,000 or the entire amount of the deficit.
Who's behind it
3 senators are its . All 3 are Democrats.
2 more lawmakers .
See all 5 names Hide the names
Authors (3)
- Julie M. Lassa · Democrat, Senate
- Spencer Coggs · Democrat, Senate
- Kathleen Vinehout · Democrat, Senate
Signed on in support (2)
- Terese Berceau · Democrat, Assembly
- Frank G. Lasee · Republican, Senate
What it would cost
State agencies filed a . Each opens as a PDF from the Legislature.
What happened
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Mar 23, 2012
The session ended, and the bill died with it.
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Mar 8, 2012
A state agency sent in its estimate of the cost.
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Feb 22, 2012
1 more senator signed on in support.
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Feb 22, 2012
Sent to the Joint Committee on Finance.
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Feb 22, 2012
Introduced in the Senate.
See the official record, word for word Hide the official record
- Feb 22, 2012 · Senate
Introduced by Senators Lassa, Vinehout and S. Coggs;Cosponsored by Representative Berceau
- Feb 22, 2012 · Senate
Read first time and referred to joint committee on Finance
- Feb 22, 2012 · Senate
Senator Lasee added as a coauthor
- Mar 8, 2012 · Senate
Fiscal estimate received
- Mar 23, 2012 · Senate
Failed to pass pursuant to Senate Joint Resolution 1
Terms on this page
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1. 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
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate. More in the glossary
From the Wisconsin Legislature's official record, checked Sep 15, 2026. See the source
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1
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
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate