SB799: Bill Text

SB799,12 Section 12 . 177.17 (4) (a) 3. of the statutes is created to read:

SB799,8,5 177.17 (4) (a) 3. With respect to the contents of safe deposit boxes and other safekeeping repositories required to be reported under subd. 1., the holder shall pay or deliver the contents of safe deposit boxes and other safekeeping repositories to the administrator no earlier than February 1, and no later than February 15, of the year following the year in which the holder was required to file the report under subd. 1.

SB799,13 Section 13 . 177.17 (6) of the statutes is created to read:

SB799,8,11 177.17 (6) The administrator may promulgate rules establishing procedures for filing reports and for payment and delivery of abandoned property under this section, including transmission and storage safeguards to prevent unauthorized disclosure of dates of birth, social security numbers, and other tax identification numbers reported under this section.

SB799,14 Section 14 . 177.19 (2) of the statutes, as created by 2013 Wisconsin Act 308, is amended to read:

SB799,8,20 177.19 (2) The department of revenue shall notify the administrator if any person under sub. (1) has filed a Wisconsin income tax return in that year and shall provide the administrator with the address of the person that appears on the tax return. The department of revenue shall also notify the administrator if any person under sub. (1) is a debtor under s. 71.93 or 71.935. Any information provided by the department of revenue under this subsection shall be subject to the confidentiality provisions under s. 71.78.

SB799,15 Section 15 . 177.24 (5) of the statutes is created to read:

SB799,9,2 177.24 (5) Any information provided by a claimant to the administrator under this section shall be considered confidential information under s. 177.42, except that, if the administrator receives more than one claim for the same property, the administrator may divulge to each claimant the name of any other claimant of the same property, the name of any person appearing to be the owner of the property, and whether the property has been paid or delivered to any claimant.

SB799,16 Section 16 . 177.26 of the statutes is amended to read:

SB799,9,14 177.26 Action to establish claim. A person aggrieved by a decision of the administrator under s. 177.24 or 177.25 or whose claim has not been acted upon within 90 days after its filing may bring an action to establish the claim in the circuit court, naming the administrator as a defendant. The action shall be brought, within 90 days after the decision of the administrator or within 180 days after the filing of the claim if the administrator has failed to act on it. If the person establishes the claim in an action against the administrator, the court shall award the person costs and reasonable attorney fees appeal the decision as provided under s. 177.43. The administrator's failure to act upon a claim under s. 177.24 or 177.25 within 90 days after its filing is considered notice of a final decision solely for the purpose of appealing the decision under this section.

SB799,17 Section 17 . 177.263 of the statutes is created to read:

SB799,9,19 177.263 Recovery of incorrect payments. If the administrator determines that a claim paid under s. 177.24 or 177.25 was paid in error, the administrator may undertake any collection actions and may commence suit to recover the incorrect payment from the recipient to whom or on whose behalf the payment was made.

SB799,18 Section 18 . 177.29 (2) (a) of the statutes is amended to read:

SB799,9,23 177.29 (2) (a) Except as provided in par. (b), no civil action or proceeding with respect to any duty of a holder under this chapter may be commenced more than 5 3 years after the duty arose.

SB799,19 Section 19. 177.30 (6) of the statutes is created to read:

SB799,10,5 177.30 (6) The administrator may not enter into a contract or other agreement to permit any person to engage in an audit of another person's documents or records as part of an effort to administer this chapter, or to purchase information or documents arising from the audit, except that this subsection does not apply to information received from the federal government.

SB799,20 Section 20 . 177.31 (1) of the statutes is amended to read:

SB799,10,12 177.31 (1) Every holder required to file a report under s. 177.17 shall, as to any property for which it has obtained the last-known address of the owner, maintain the records the name and last-known address of the owner containing the information required to be included in the report for 5 3 years after the property is reported becomes reportable, unless a shorter time is provided in sub. (2) or by rule of the administrator.

SB799,21 Section 21 . 177.315 of the statutes is created to read:

SB799,10,15 177.315 Voluntary compliance program. (1) Definition. In this section, "fiscal year" has the meaning given in s. 177.17 (4) (a) 1.

SB799,10,20 (2) Establishment of program. The administrator shall establish a voluntary compliance program to encourage persons who are not in compliance with this chapter to voluntarily report and pay or deliver abandoned property held by them that should have been, but was not, reported and paid or delivered to the administrator.

SB799,10,23 (3) Rules. The administrator shall promulgate rules to implement and administer the program established under sub. (2). The rules shall do all of the following:

SB799,11,3 (a) Provide that any person is eligible to participate in the program unless, at the time the person applies to participate in the program, the administrator is conducting an examination of the person's records under s. 177.30 (2) or (3).

SB799,11,5 (b) Specify the process that a person must follow to apply to participate in the program and to successfully complete the program.

SB799,11,13 (c) Unless the administrator has reason to believe that a person intentionally provided information in connection with the program that is untrue, require the administrator to refrain from conducting an examination of records under s. 177.30 (2) and allow the person to conduct the person's own audit, examination, review, or other inspection of the person's records to determine what abandoned property the person should have reported and paid or delivered to the administrator for each of the 3 fiscal years immediately preceding the date on which the person applied to participate in the program.

SB799,11,18 (d) Provide that any person who successfully completes the program shall be deemed to be in compliance with the person's obligations under this chapter upon reporting and paying or delivering abandoned property for each of the 3 fiscal years immediately preceding the date on which the person applied to participate in the program.

SB799,11,21 (e) Provide that, for any person who successfully completes the program, the administrator shall enter into an agreement with the person by which the administrator shall do all of the following:

SB799,11,24 1. If the person completes the program within the first year that the program is available, waive all interest and penalties imposed under s. 177.34 for all fiscal years preceding the date on which the person applied to participate in the program.

SB799,12,2 2. If the person completes the program after the first year that the program is available, all of the following:

SB799,12,4 a. Reduce the annual rate of interest payable under s. 177.34 (1) to 3 percent for each fiscal year covered by the agreement.

SB799,12,6 b. Waive all interest imposed under s. 177.34 (1) for all fiscal years prior to the period covered by the agreement.

SB799,12,8 c. Waive all penalties imposed under s. 177.34 (2) to (4) for all fiscal years covered by the agreement and prior to the period covered by the agreement.

SB799,12,12 3. Agree to refrain from conducting an examination of the person's records under s. 177.30 (2) or (3) or from seeking an estimate of liability under s. 177.30 (5) with respect to any fiscal year covered by the agreement or prior to the period covered by the agreement.

SB799,12,16 (f) Provide that, if the person makes false or misleading statements in connection with the program, the agreement described in par. (e) is voidable at the option of the administrator, and the administrator may revoke any of the benefits conferred on the person under the program.

SB799,22 Section 22 . 177.34 (1) of the statutes is amended to read:

SB799,12,21 177.34 (1) A person who fails to pay or deliver property within the time prescribed by this chapter shall pay the administrator interest at the annual rate of 18% 6 percent on the property or the value thereof of the property from the date the property should have been paid or delivered.

SB799,23 Section 23 . 177.42 of the statutes is created to read:

SB799,13,2 177.42 Confidentiality. (1) Definition. In this section, "confidential information" means a report filed under s. 177.17, a record examined under s. 177.30, a document submitted in connection with the voluntary compliance program under s. 177.315, or any information contained in, derived from, or related to the report, record, or document.

SB799,13,5 (2) Divulging information. Except as provided in sub. (3) and s. 177.18, no person may divulge, circulate, or offer to obtain, divulge, or circulate confidential information.

SB799,13,6 (3) Exceptions. This section does not prohibit any of the following:

SB799,13,8 (a) The administrator from publishing information necessary to allow owners and apparent owners to claim their property.

SB799,13,10 (b) The administrator from reporting information necessary to comply with agreements with other states under s. 177.33.

SB799,13,12 (c) The administrator from publishing statistics classified so as not to disclose the identity of particular holders or of particular reports.

SB799,13,17 (d) The administrator or the administrator's agents from offering or submitting confidential information as evidence into the record of any contested matter involving the administrator or the administrator's agents in proceedings or litigation under this chapter if, in the administrator's judgment, that evidence has reasonable probative value.

SB799,13,21 (4) Browsing prohibited. (a) No person, except the person who provided the confidential information, may inspect confidential information unless that person does so in performing the duties of his or her position. Violation of this paragraph by a state employee is grounds for dismissal.

SB799,13,24 (b) If any person is charged with a violation of par. (a), the administrator shall notify each person whose confidential information was improperly inspected by the person charged with a violation of par. (a).

SB799,14,2 (c) Any person notified under par. (b) may bring an action for damages with regard to the improper inspection.

SB799,24 Section 24 . 177.43 of the statutes is created to read:

SB799,14,6 177.43 Appeals. Subchapter XIV of ch. 71, as it applies to appeals of income and franchise tax assessment determinations under ch. 71, applies to appeals of the determinations made by the administrator under this chapter.

SB799,25 Section 25. Initial applicability.

SB799,14,10 (1) Audits. The treatment of sections 73.03 (73) and 73.16 (3) (a) 2. and (6) of the statutes first applies to an audit that is commenced, or an assessment that is issued, by the department of revenue on the effective date of this subsection.

SB799,14,16 (2) Intangible property; presumption of abandonment; contents of reports. The treatment of sections 177.01 (5), 177.04 (2), and 177.17 (2) (bm) of the statutes, the renumbering and amendment of section 177.01 (10) (b) of the statutes, and the creation of section 177.01 (10) (b) 2. to 8. of the statutes first apply to fiscal years, as defined in section 177.17 (4) (a) 1. of the statutes, as affected by this act, beginning on July 1, 2016.

SB799,14,20 (3) Reporting, payment, and delivery deadlines. The treatment of section 177.17 (4) (a) 1., 2., and 3. of the statutes first applies to a report required to be filed with respect to a fiscal year, as defined in section 177.17 (4) (a) 1. of the statutes, as affected by this act, beginning on July 1, 2016.

SB799,14,22 (4) Claims. The treatment of sections 177.24 (5) and 177.26 of the statutes first applies to a claim filed on the effective date of this subsection.

SB799,14,25 (5) Statute of limitations. The treatment of section 177.29 (2) (a) of the statutes first applies to a duty of a holder that arises on the effective date of this subsection.

SB799,15,3 (6) Records required to be maintained. The treatment of section 177.31 (1) of the statutes first applies to records relating to property that becomes reportable on November 1, 2016.

SB799,15,5 (7) Interest. The treatment of section 177.34 (1) of the statutes first applies to a duty to pay or deliver property that arises on the effective date of this subsection.

SB799,15,7 (8) Appeals. The treatment of section 177.43 of the statutes first applies to a determination of the administrator made on the effective date of this subsection.

SB799,26 Section 26. Effective dates. This act takes effect on the day after publication, except as follows:

SB799,15,12 (1) Intangible property. The amendment of section 177.01 (5) of the statutes, the renumbering and amendment of section 177.01 (10) (b) of the statutes, and the creation of section 177.01 (10) (b) 2. to 8. of the statutes take effect on July 1, 2016.

SB799,15,13 (End)