Robert Brooks, Wisconsin State Representative for 59th District | Official website
Robert Brooks, Wisconsin State Representative for 59th District | Official website
According to the Wisconsin State Legislature's official website, the bill was described as follows: "the minimum net worth requirement for licensed mortgage brokers".
The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.
In essence, this bill amends the statutes to remove the minimum net worth requirement for individuals seeking licensure as mortgage brokers in Wisconsin. Previously, aspiring mortgage brokers were mandated to demonstrate a minimum net worth of $100,000 through financial statements certified by an independent CPA. With the repeal of this requirement, applicants are no longer obliged to provide such financial evidence to the Division of Banking within the Department of Financial Institutions to obtain a license. The change aims to potentially ease the entry requirements for individuals pursuing a career in mortgage brokerage.
The bill was co-authored by Senator Rob Stafsholt (Republican-10th District), Representative Russell Goodwin (Democrat-12th District), Representative Chanz J. Green (Republican-74th District), Representative Daniel Knodl (Republican-24th District), Representative Rob Kreibich (Republican-28th District). It was co-sponsored by Senator Chris Kapenga (Republican-33rd District), along one other co-sponsor.
Robert Brooks has co-authored or authored another 62 bills since the beginning of the 2025 session, with none of them being enacted.
Brooks, a Republican, was elected to the Wisconsin State Assembly in 2025 to represent the state's 59th Assembly district, replacing previous state representative Ty Bodden.
In Wisconsin, the legislative process starts when a senator, constituent, group, or agency proposes an idea for a bill. After drafting, the bill is introduced, numbered, and referred to a committee for review and public input. If approved, it moves through three readings and votes in both the Senate and Assembly. Once both chambers pass the same version, the bill goes to the governor, who can sign it, veto it, or let it become law without a signature. Only a small share of bills introduced each session ultimately become law. You can learn more about the Wisconsin legislative process here.
| Bill Number | Date Introduced | Short Description |
|---|---|---|
| AB313 | 06/06/2025 | The minimum net worth requirement for licensed mortgage brokers |
| AB269 | 05/19/2025 | Delivery network couriers and transportation network drivers, Department of Financial Institutions’ approval to offer portable benefit accounts, providing for insurance coverage, modifying administrative rules related to accident and sickness insurance, and granting rule-making authority. (FE) |
| AB262 | 05/19/2025 | Findings of fact when the court grants less than equal physical placement of a child |
| AB253 | 05/08/2025 | Independence accounts. (FE) |
| AB252 | 05/08/2025 | The notice of an investigation of child abuse or neglect or unborn child abuse provided to appropriate authorities of the U.S. Department of Defense. (FE) |
| AB251 | 05/08/2025 | Jurisdiction over juveniles on federal enclaves. (FE) |
| AB244 | 05/02/2025 | Posting the child abuse and neglect reporting hotline in school buildings. (FE) |
| AB228 | 04/29/2025 | Tax incremental financing districts containing qualified data centers. (FE) |
| AB217 | 04/23/2025 | Local government competitive bidding thresholds. (FE) |
| AB202 | 04/17/2025 | Voidable provisions in residential rental agreements and the application of the Wisconsin Consumer Act to leases. (FE) |
| AB194 | 04/15/2025 | Modifications to housing programs under the Wisconsin Housing and Economic Development Authority. (FE) |
| AB188 | 04/15/2025 | Reduction of penalty surcharge when certain fines or forfeitures reduced. (FE) |
| AB174 | 04/14/2025 | Transmission facilities; installation of large wind energy, large solar energy, and battery energy storage systems; installation of light-mitigating technology systems; and prioritizing nuclear energy resources. (FE) |
| AB163 | 04/08/2025 | Redeterminations of eligibility for the Medical Assistance program and database confirmation for public assistance program eligibility. (FE) |
| AB140 | 03/17/2025 | Limitations on the total value of taxable property that may be included in a tax incremental financing district created in the city of Port Washington. (FE) |
| AB51 | 02/20/2025 | Participation in interscholastic athletics and application of the public records and open meetings laws to interscholastic athletic associations |
| AB45 | 02/17/2025 | Ratification of the Dietitian Licensure Compact. (FE) |
| AB8 | 02/06/2025 | Agreements for direct primary care |
Alerts Sign-up