Senate Bill 557
Investment of certain University of Wisconsin System revenues. (FE)
Became law
The governor signed it on Mar 14, 2022. It's .
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Introduced, passed
Sep 15, 2021
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Committee, passed
Approved
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Senate vote, passed
Passed Jan 25, 2022
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Assembly vote, passed
Passed Feb 22, 2022
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Governor, passed
Signed
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Law, here now
2021 Wisconsin Act 165
Latest entry in the official record, Mar 14, 2022: “Published 3-12-2022”
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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
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate. 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.
This bill expands the authority of the Board of Regents of the University of Wisconsin System to manage the investment of certain UW System revenues through a financial manager, a private investment firm, or the State of Wisconsin Investment Board (SWIB), instead of investing these moneys in SWIB's State Investment Fund (SIF).
Current law specifies that SWIB has control of the investment of certain state moneys. SWIB manages the SIF, an investment trust that functions as the state's cash management fund under which idle cash balances are pooled and invested in liquid, low-risk investments until these moneys are needed.
Read the full summary Show less
Under current law, the Board of Regents may invest revenues from gifts, grants, and donations by doing any of the following: 1) directly employing a financial manager; 2) selecting a private investment firm using a competitive proposal process; or 3) contracting with SWIB to manage the investment of these moneys. If the Board of Regents invests these moneys in this manner, the moneys are not required to be deposited in the SIF. If the Board of Regents contracts with SWIB to invest these moneys, SWIB must invest the moneys in accordance with the terms of its contract with the Board of Regents and SWIB's general standard of investment prudence.
Under the bill, the Board of Regents may manage the investment of any revenues designated by the Board of Regents in the same manner allowed under current law for gifts, grants and donations: 1) by directly employing a financial manager; 2) by selecting a private investment firm; or 3) by contracting with SWIB.
If the Board of Regents employs a financial manager or selects a private investment firm, the designated revenues must be managed in accordance with the investment policies established by the Board of Regents and consistently with the standard of investment prudence for investing institutional charitable funds. If the Board of Regents contracts with SWIB, SWIB must manage the designated revenues as provided under current law, which requires SWIB to invest the moneys in accordance with the terms of the contract and SWIB's standard of investment prudence.
Who's behind it
10 senators are its . 9 are Republicans and 1 is a Democrat.
18 more lawmakers .
See all 28 names Hide the names
Authors (10)
- Joan Ballweg · Republican, Senate
- Kathleen Bernier · Republican, Senate
- Rob Cowles · Republican, Senate
- Mary Felzkowski · Republican, Senate
- Dan Feyen · Republican, Senate
- Howard Marklein · Republican, Senate
- Steve Nass · Republican, Senate
- Jerry Petrowski · Republican, Senate
- Kelda Roys · Democrat, Senate
- Duey Stroebel · Republican, Senate
Signed on in support (18)
- Samba Baldeh · Democrat, Assembly
- Cindi Duchow · Republican, Assembly
- James Edming · Republican, Assembly
- Rick Gundrum · Republican, Assembly
- Cody Horlacher · Republican, Assembly
- Jesse James · Republican, Senate
- Dan Knodl · Republican, Assembly
- Mike Kuglitsch · Republican, Assembly
- Amy Loudenbeck · Republican, Assembly
- John Macco · Republican, Assembly
- Clint Moses · Republican, Assembly
- Dave Murphy · Republican, Assembly
- Will Penterman · Republican, Assembly
- Katrina Shankland · Democrat, Assembly
- John Spiros · Republican, Assembly
- David Steffen · Republican, Assembly
- Bob Wittke · Republican, Assembly
- Shannon Zimmerman · Republican, Assembly
What it would cost
State agencies filed a . Each opens as a PDF from the Legislature.
How lawmakers voted
There was one vote on this bill.
Senate Committee on Universities and Technical Colleges vote to recommend it
Passed, 9 to 0 · Jan 19, 2022
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 Universities and Technical Colleges, Ayes 9, Noes 0”. Official record · This vote on its own page
What happened
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Mar 14, 2022
The new law was published.
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Mar 14, 2022
The governor signed it. It became 2021 Wisconsin Act 165.
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Mar 10, 2022
Sent to the governor.
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Feb 22, 2022
The Assembly passed it too.
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Feb 17, 2022
Sent to the Assembly Committee on Rules.
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Jan 25, 2022
1 more representative signed on in support.
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Jan 25, 2022
The Assembly received it.
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Jan 25, 2022
The Senate passed it.
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Jan 19, 2022
The committee voted to recommend passing it, 9 to 0.
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Oct 28, 2021 to Dec 6, 2021
2 more representatives signed on in support.
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Oct 19, 2021
The committee held a public hearing.
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Oct 1, 2021
A state agency sent in its estimate of the cost.
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Sep 21, 2021
A state agency sent in its estimate of the cost.
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Sep 15, 2021
Sent to the Senate Committee on Universities and Technical Colleges.
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Sep 15, 2021
Introduced in the Senate.
See the official record, word for word Hide the official record
- Sep 15, 2021 · Senate
Introduced by Senators Stroebel, Cowles, Ballweg, Bernier, Felzkowski, Feyen, Nass, Petrowski, Roys and Marklein; cosponsored by Representatives Macco, Steffen, Baldeh, Edming, Gundrum, Horlacher, Knodl, Kuglitsch, Loudenbeck, Moses, Murphy, Penterman, Spiros, Wittke and Zimmerman
- Sep 15, 2021 · Senate
Read first time and referred to Committee on Universities and Technical Colleges
- Sep 21, 2021 · Senate
Fiscal estimate received
- Oct 1, 2021 · Senate
Fiscal estimate received
- Oct 19, 2021 · Senate
Public hearing held
- Oct 28, 2021 · Senate
Representative Duchow added as a cosponsor
- Dec 6, 2021 · Senate
Representative James added as a cosponsor
- Jan 18, 2022 · Senate
Executive action taken
- Jan 19, 2022 · Senate
Report passage recommended by Committee on Universities and Technical Colleges, Ayes 9, Noes 0
- Jan 19, 2022 · Senate
Available for scheduling
- Jan 21, 2022 · Senate
Placed on calendar 1-25-2022 pursuant to Senate Rule 18(1)
- Jan 25, 2022 · Senate
Read a second time
- Jan 25, 2022 · Senate
Ordered to a third reading
- Jan 25, 2022 · Senate
Rules suspended
- Jan 25, 2022 · Senate
Read a third time and passed
- Jan 25, 2022 · Senate
Ordered immediately messaged
- Jan 25, 2022 · Assembly
Received from Senate
- Jan 25, 2022 · Assembly
Representative Shankland added as a cosponsor
- Feb 17, 2022 · Assembly
Read first time and referred to committee on Rules
- Feb 17, 2022 · Assembly
Placed on calendar 2-22-2022 by Committee on Rules
- Feb 22, 2022 · Assembly
Rules suspended to withdraw from calendar and take up
- Feb 22, 2022 · Assembly
Read a second time
- Feb 22, 2022 · Assembly
Ordered to a third reading
- Feb 22, 2022 · Assembly
Rules suspended
- Feb 22, 2022 · Assembly
Read a third time and concurred in
- Feb 22, 2022 · Assembly
Ordered immediately messaged
- Feb 22, 2022 · Senate
Received from Assembly concurred in
- Feb 25, 2022 · Senate
LRB correction
- Feb 25, 2022 · Senate
Report correctly enrolled
- Mar 10, 2022 · Senate
Presented to the Governor on 3-10-2022
- Mar 14, 2022 · Senate
Report approved by the Governor on 3-11-2022. 2021 Wisconsin Act 165
- Mar 14, 2022 · Senate
Published 3-12-2022
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
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate. 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
Cost estimate
A state agency's estimate of what a bill would cost or save.
Official term: Fiscal estimate
Roll call
A vote where each lawmaker's yes or no is recorded by name.
Official term: Roll call vote