Assembly Bill 313
The minimum net worth requirement for licensed mortgage brokers
Topics: Banking, Division of, Mortgage
Stopped before the full Assembly voted
The recommended passing it, but the full Assembly never voted on it. The last day for votes this session was Mar 19, 2026. To try again, a lawmaker would have to start a new bill.
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Introduced, passed
Jun 6, 2025
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Committee, passed
Approved
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Assembly vote, stopped here
Stopped here. The full Assembly never voted on it.
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Senate 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, 2026: “Failed to pass pursuant to ”
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The same bill was also filed in the Senate as SB 315. That version was vetoed.
Terms on this page
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
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
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 would have done
Summary by the , the Legislature's nonpartisan drafting office. It's their wording, not ours.
Under current law, a person may not act as a mortgage broker unless the person is licensed by the Division of Banking in the Department of Financial Institutions. A mortgage broker is a person who, among other activities, assists others, for compensation, in obtaining or applying for loans but does not make underwriting decisions or close loans. Currently, an applicant for a mortgage broker license must, among other things, submit evidence of a minimum net worth of $100,000. This bill repeals the minimum net worth requirement for mortgage broker licensure.
Who's behind it
8 representatives are its . 7 are Republicans and 1 is a Democrat.
2 more lawmakers .
See all 10 names Hide the names
Authors (8)
- Rob Brooks · Republican, Assembly
- Ben Franklin · Republican, Assembly
- Russell Goodwin · Democrat, Assembly
- Chanz Green · Republican, Assembly
- Dan Knodl · Republican, Assembly
- Rob Kreibich · Republican, Assembly
- Jerry O'Connor · Republican, Assembly
- Jim Piwowarczyk · Republican, Assembly
Signed on in support (2)
- Chris Kapenga · Republican, Senate
- Rob Stafsholt · Republican, Senate
How lawmakers voted
There was one vote on this bill.
Assembly Committee on Financial Institutions vote to recommend it
Passed, 5 to 3 · Oct 8, 2025
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, Ayes 5, Noes 3”. Official record · This vote on its own page
What happened
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Mar 23, 2026
The session ended, and the bill died with it.
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Oct 8, 2025
Sent to the Assembly Committee on Rules.
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Oct 8, 2025
The committee voted to recommend passing it, 5 to 3.
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Sep 3, 2025
The committee held a public hearing.
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Jun 6, 2025
Sent to the Assembly Committee on Financial Institutions.
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Jun 6, 2025
Introduced in the Assembly.
See the official record, word for word Hide the official record
- Jun 6, 2025 · Assembly
Introduced by Representatives Brooks, Franklin, Goodwin, Green, Knodl, Kreibich, O'Connor, Piwowarczyk and Prado; cosponsored by Senators Stafsholt and Kapenga
- Jun 6, 2025 · Assembly
Read first time and referred to Committee on Financial Institutions
- Sep 3, 2025 · Assembly
Public hearing held
- Oct 1, 2025 · Assembly
Executive action taken
- Oct 8, 2025 · Assembly
Report passage recommended by Committee on Financial Institutions, Ayes 5, Noes 3
- Oct 8, 2025 · Assembly
Referred to committee on Rules
- Jan 8, 2026 · Assembly
Placed on calendar 1-13-2026 by Committee on Rules
- Jan 12, 2026 · Assembly
Representative Prado withdrawn as a coauthor
- Jan 13, 2026 · Assembly
Laid on the table
- Mar 23, 2026 · Assembly
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.
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
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
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
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
Roll call
A vote where each lawmaker's yes or no is recorded by name.
Official term: Roll call vote