WI bill introduced photo by jpellgen Flickr

Wisconsin State Reps introduce public bank bill with intent to build support for it prior to next year’s session

On April 11, Wisconsin State Representatives Darrin Madison, Francesca Hong and Sue S. Clancy introduced AB 1220, cosponsored by WI State Senator Chris Larson — a bill creating an authority to be known as the Public Bank of Wisconsin and making an appropriation. Text of the bill includes, “The Public Bank must organize as a state-chartered bank supervised by the Division of Banking in the Department of Financial Institutions and generally accepts deposits only of public moneys from the state.”

Rep. Madison’s aide, David O’Keeffe, states that the bill was introduced although the 2024 legislative session was just coming to a close, so that it can be used for organizing and galvanizing support before the 2025 session begins.

[Read text of AB 1220]

Photo by jpellgen, Flickr.

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