AB933, s. 6
20Section
6. 39.32 (6) of the statutes is amended to read:
AB933,6,521
39.32
(6) The board shall satisfy the loan of any student who obtained a loan
22under this section or
under s. 39.023, 1965 stats., between July 1, 1966, and
23December 15, 1968,
where such if the student
died or dies after July 1, 1966, and
24before completing repayment
thereof of the loan, and shall write off the balance of
25principal and interest owing on the loan on the date
it that the board received
1confirmation of
such the student's death. Obligation to repay such a loan shall
2terminate on the date of the student's death and any payments made
thereon on the
3loan to the board after
such the date
of the student's death shall be refunded to the
4payor or the payor's heirs
, executor or
administrator personal representative upon
5receipt by the board of an application for refund.
AB933, s. 7
6Section
7. 45.37 (10) (d) of the statutes is amended to read:
AB933,6,107
45.37
(10) (d) A person who at the time of death is a member of the home is a
8resident of Waupaca County for the probate of the person's will
and, issuance of
9letters testamentary
or other letters authorizing the administration of the decedent's
10estate, and the administration of the estate.
AB933, s. 8
11Section
8. 59.35 (2) of the statutes is amended to read:
AB933,6,1812
59.35
(2) The coroner shall be responsible for every default or misconduct in
13office of a deputy coroner during the coroner's term of office, and after the
coroner's 14death, resignation
, or removal from office
of the coroner, as well as before
; and an.
15An action for any
such default or misconduct
under this subsection may be
16prosecuted against the coroner and the sureties on the coroner's official bond or
17against the
executors and administrators of the coroner coroner's personal
18representative.
AB933, s. 9
19Section
9. 66.0823 (13) of the statutes is renumbered 66.0823 (13) (a) (intro.)
20and amended to read:
AB933,7,221
66.0823
(13) (a) (intro.)
Public officers and agencies of the state, political
22subdivisions, insurance companies, trust companies, banks, savings banks, savings
23and loan associations, investment companies, personal representatives, executors,
24administrators, trustees and other fiduciaries Any of the following may
properly and
1legally invest funds, including capital in their control or belonging to them, in bonds
2of the authority
.:
AB933,7,6
3(b) The authority's bonds are securities that may
properly and legally be
4deposited with and received by any officer or agency of the state or any political
5subdivision for any purpose for which the deposit of bonds or
obligation obligations 6of the state or any political subdivision is authorized by law.
Note: Subdivides long provision for improved readability and conformity with
current style. See the next section of this bill.
AB933, s. 10
7Section
10. 66.0823 (13) (a) 1. to 11. of the statutes are created to read:
AB933,7,88
66.0823
(13) (a) 1. Public officers and agencies of the state.
AB933,7,99
2. Political subdivisions.
AB933,7,1010
3. Insurance companies.
AB933,7,1111
4. Trust companies.
AB933,7,1313
6. Savings banks.
AB933,7,1414
7. Savings and loan associations.
AB933,7,1515
8. Investment companies.
AB933,7,1616
9. Personal representatives.
AB933,7,1717
10. Trustees.
AB933,7,1818
11. Other fiduciaries not listed in this paragraph.
Note: See the previous section of this bill.
AB933, s. 11
19Section
11. 66.0825 (15) of the statutes is renumbered 66.0825 (15) (a) (intro.)
20and amended to read:
AB933,8,321
66.0825
(15) (a) (intro.)
All public officers and agencies and political
22subdivisions of the state and all insurance companies, trust companies, banks,
23savings banks, savings and loan associations, investment companies, executors,
1administrators, trustees and other fiduciaries Any of the following may invest funds,
2including capital in their control or belonging to them, in bonds issued by a company
3under this section
.:
AB933,8,7
4(b) The bonds
described in par. (a) may be deposited with and received by any
5officer or agency of the state or any political subdivision for any purpose for which
6the deposit of bonds or
obligation obligations of the state or any political subdivision
7is authorized by law.
Note: See the next section of this bill.
AB933, s. 12
8Section
12. 66.0825 (15) (a) 1. to 10. of the statutes are created to read:
AB933,8,109
66.0825 (15) (a) 1. Public officers and agencies and political subdivisions of the
10state.
AB933,8,1111
2. Insurance companies.
AB933,8,1212
3. Trust companies.
AB933,8,1414
5. Savings banks.
AB933,8,1515
6. Savings and loan associations.
AB933,8,1616
7. Investment companies.
AB933,8,1717
8. Personal representatives.
AB933,8,1818
9. Trustees.
AB933,8,1919
10. Other fiduciaries not listed in this paragraph.
Note: See the previous section of this bill.
AB933, s. 13
20Section
13. 66.1309 (intro.) of the statutes is renumbered 66.1309 (2) (intro.)
21and amended to read:
AB933,9,1122
66.1309
(2) (intro.) Notwithstanding any other law or the absence of direct
23provision for transfer of land in the instrument under which a fiduciary is acting,
1every
executor, administrator, trustee, guardian or other person, holding trust funds
2or acting in a fiduciary capacity fiduciary, unless the instrument under which the
3fiduciary is acting expressly forbids,
the state, its subdivisions, cities, all other public
4bodies, all public officers,
corporations organized under or subject to the provisions
5of the banking law, the division of banking as conservator, liquidator or rehabilitator
6of any person, partnership or corporation, persons, partnerships and corporations
7organized under or subject to the provisions of the banking law, the commissioner of
8insurance as conservator, liquidator or rehabilitator of any person, partnership or
9corporation, any of which and every governmental unit, bank, or conservator that 10owns or holds any real property within a development area
, may do all of the
11following:
Note: Subdivides long provision by moving text to separate definitions for
improved readability and conformity with current style. See the next section of this bill.
AB933, s. 14
12Section
14. 66.1309 (1) of the statutes is created to read:
AB933,9,1313
66.1309
(1) In this section:
AB933,9,1514
(a) "Bank" means a corporation organized under or subject to the provisions of
15the banking law.
AB933,9,1616
(b) "Conservator" means any of the following:
AB933,9,1917
1. The division of banking as conservator, liquidator, or rehabilitator of any
18person, partnership, or corporation, and persons, partnerships, and corporations
19organized under or subject to the provisions of the banking law.
AB933,9,2120
2. The commissioner of insurance as conservator, liquidator, or rehabilitator of
21any person, partnership, or corporation.
AB933,9,2322
(c) "Fiduciary" means a personal representative, trustee, guardian, or other
23person holding trust funds or acting in a fiduciary capacity.
AB933,10,2
1(d) "Governmental unit" means the state, its subdivisions, cities, all other
2public bodies, and all public officers.
AB933, s. 15
3Section
15. 66.1317 (2) (a) 1. of the statutes is amended to read:
AB933,10,64
66.1317
(2) (a) 1. Every
executor, administrator personal representative,
5trustee, guardian, committee
, or other person or corporation holding trust funds or
6acting in a fiduciary capacity.
AB933, s. 16
7Section
16. 70.19 (1) of the statutes is amended to read:
AB933,10,208
70.19
(1) When personal property
shall be is assessed
under s. 70.18 (1) to
some 9a person in charge or possession
thereof of the personal property other than the
10owner
or person beneficially entitled thereto as hereinbefore provided, the
11assessment
thereof of that personal property shall be entered upon the assessment
12roll separately from the
same person's assessment of
the that person's own personal
13property, adding to the person's name upon
such the tax roll words briefly indicating
14that
such the assessment is made to the person as the person in charge or possession
15thereof as occupant or possessor of the premises on which such property is stored or
16piled or as the spouse, agent, lessee, occupant, mortgagee, pledgee, executor,
17administrator, trustee, assignee, receiver or other representative of the owner or
18person beneficially entitled thereto; but a of the property. The failure to enter
such 19the assessment separately or to indicate the representative capacity or other
20relationship of the person assessed shall not affect the validity of the assessment.
Note: See the note following the next section of this bill.
AB933, s. 17
21Section
17. 70.19 (2) of the statutes is amended to read:
AB933,11,1422
70.19
(2) The person
so assessed
under sub. (1) and s. 70.18 (1) is personally
23liable for the tax on the property. The person
assessed under sub. (1) and s. 70.18 (1) 24has a personal right of action against the owner
or person beneficially entitled to of
1the property for the amount of the taxes
and; has a lien for that amount upon the
2property with the rights and remedies for the preservation and enforcement of that
3lien
as provided in ss. 779.45 and 779.48
,
; and is entitled to retain possession of the
4property until the owner
or person beneficially entitled to of the property pays the
5tax on the property or reimburses the person assessed for the tax
if paid by that
6person. The lien and right of possession relate back and exist from the time
when 7that the assessment is made, but may be released and discharged by giving to the
8person assessed such undertaking or other indemnity as the person accepts or by
9giving the person
assessed a bond in the amount and with the sureties as is directed
10and approved by the circuit
judge court of the county in which the property is
11assessed, upon 8 days' notice to the person assessed. The bond shall be conditioned
12to hold
and keep the person
against whom the assessment is made assessed free and
13harmless from
any and all costs, expense, liability or damage by reason of the
14assessment.
Note: Conforms provision to s. 70.18, which provides for the assessment of
personal property to a person other than the owner. Prior to enactment of ch. 366 of the
laws of 1959, ss. 70.18 and 70.19 referred to "owner or person beneficially interested" and
the capacity of persons who might hold property for a person beneficially interested. The
references to persons beneficially interested and the capacity of the persons holding the
property were deleted from s. 70.18 by ch. 366 of the laws of 1959, but not from s. 70.19.
As s. 70.19 relates to assessments under s. 70.18 and as s. 70.18, as affected by ch. 366
of the laws of 1959, applies to persons possessing personal property of others regardless
of capacity, the references to persons beneficially interested and the capacity of persons
holding property for those persons in s. 70.19 are unnecessary after their deletion from
s. 70.18.
AB933, s. 18
15Section
18. 70.21 (title) of the statutes is amended to read:
AB933,11,17
1670.21 (title)
Partnership; estates in hands of executor personal
17representative; personal property, how assessed.
AB933, s. 19
18Section
19. 70.21 (1) of the statutes is amended to read:
AB933,12,5
170.21
(1) Except as provided in sub. (2), the personal property of a partnership
2may be assessed in the names of the persons composing
such the partnership, so far
3as known or in the firm name or title under which the partnership business is
4conducted, and each partner shall be liable for the taxes levied
thereon on the
5partnership's personal property.
AB933,12,8
6(1m) Undistributed personal property belonging to the estate of a
person
7deceased decedent shall be assessed
to the executor or administrator if one shall have 8as follows:
AB933,12,11
9(a) If a personal representative has been appointed and qualified, on the first
10day of January in the year in which the assessment is made,
otherwise it the property
11shall be assessed to the personal representative.
AB933,12,18
12(b) If a personal representative has not been appointed and qualified, on the
13first day of January in the year in which the assessment is made, the property may
14be assessed to the
decedent's estate
of such deceased person, and the. The tax
15thereon on the property shall be paid by the
executor or administrator personal
16representative if one
be thereafter is subsequently appointed,
otherwise or by the
17person or persons in possession of
such the property at the time of the assessment
18if a personal representative is not appointed.
Note: Subdivides provision, reorders text, and inserts specific references to
improve readability and conformity with current style.
AB933, s. 20
19Section
20. 70.22 (1) of the statutes is amended to read:
AB933,13,1120
70.22
(1) In case one or more of 2 or more
executors of the will or administrators 21personal representatives or trustees of the estate of a decedent
whose domicile at the
22time of the decedent's death was who died domiciled in this state are not residents
23of the state, the taxable personal property belonging to the estate shall be assessed
1to the
executors, administrators personal representatives or trustees residing in this
2state. In case there are 2 or more
executors, administrators personal representatives 3or trustees of the same estate residing in this state, but in different taxation districts,
4the assessment of the taxable personal property belonging to the estate shall be in
5the
name names of all of the
executors, administrators personal representatives or
6trustees of the estate residing in this state. In case
the executor, administrator no
7personal representative or trustee
, or all of them if more than one, do not reside 8resides in this state, the taxable personal property belonging to the estate may be
9assessed in the name of the
executors or administrators personal representative or
10trustee, or in the names of all of the personal representatives or trustees if there are
11more than one, or in the name of the estate.
Note: Reorders text and eliminates unnecessary language. In the last sentence,
"trustee" is added for internal consistency.
AB933, s. 21
12Section
21. 70.22 (2) (b) of the statutes is amended to read:
AB933,13,1713
70.22
(2) (b) Before allowing the final account of a nonresident
executor,
14administrator personal representative or trustee, the court shall ascertain whether
15there are or will be any taxes remaining unpaid or to be paid on account of personal
16property belonging to the estate, and shall make any order or direction that is
17necessary to provide for the payment of the taxes.
AB933, s. 22
18Section
22. 70.22 (3) of the statutes is amended to read:
AB933,13,2219
70.22
(3) The provisions of this section shall not impair or affect any remedy
20given by other provisions of law for the collection or enforcement of taxes upon
21personal property assessed to
executors, administrators personal representatives or
22trustees.
AB933, s. 23
23Section
23. 70.36 (1) of the statutes is amended to read:
AB933,14,12
170.36
(1) Any person
, firm or corporation in this state owning or holding
any 2personal property
of any nature or description that is subject to assessment,
3individually or as agent, trustee, guardian,
administrator, executor personal
4representative, assignee
, or receiver or
in some other representative capacity,
which
5property is subject to assessment, who
shall intentionally
make makes a false
6statement to the assessor of that person's
, firm's or corporation's assessment district
7or to the board of review
thereof of the assessment district with respect to
such
the 8property, or who
shall omit omits any property from any return required to be made
9under s. 70.35, with the intent of avoiding the payment of the just and proportionate
10taxes
thereon on the property, shall forfeit the sum of $10 for every $100 or major
11fraction
thereof of $100 so withheld from the knowledge of
such the assessor or board
12of review.
Note: Reorders text, inserts specific references, and eliminates unnecessary
language.
AB933, s. 24
13Section
24. 71.03 (2) (b) of the statutes is amended to read:
AB933,14,1614
71.03
(2) (b)
Deceased person. The
executor, administrator personal
15representative or other person charged with the property of a decedent shall file
a
16the return of
such individual
the decedent required under this section.
AB933, s. 25
17Section
25. 71.13 (2) (a) and (b) of the statutes are amended to read:
AB933,14,2118
71.13
(2) (a)
An executor, administrator, A personal representative or trustee
19applying to a court having jurisdiction for a discharge of his or her trust and a final
20settlement of his or her accounts, before
his or her
the application is granted, shall
21file all of the following with the department:
AB933,15,222
1. Returns of income received by the
deceased decedent, any previous guardian,
23executor, administrator, personal representative
, or trustee, during each of the years
1open to assessment under s. 71.77, if
such
the returns had not
theretofore previously 2been filed, including a return of income for the year of death to the date of death.
AB933,15,53
2. Returns of income received during the period of
his or her the personal
4representative's or trustee's administration or trust except for the final income tax
5year of the estate or trust.
AB933,15,86
3. Gift tax returns or reports, sales and use tax returns, and withholding
7returns or reports
which that were required to be filed, if not
theretofore previously 8filed.
AB933,15,239
(b) Upon receipt of
such the returns
described in par. (a), the department shall
10immediately determine the amount of taxes including interest, penalties
, and costs
11to be payable, as well as any delinquent income, withholding, sales, use
, and gift
12taxes, penalties, interest
, and costs due, and shall certify
such those amounts to the
13court. The court shall
thereupon then enter an order directing the
executor,
14administrator, personal representative or trustee to pay the amounts found to be due
15by the department and take
its the department's receipt
therefor for the amount
16paid. The receipt shall be evidence of the payment and shall be filed with the court
17before a final distribution of the estate or trust is ordered and the
executor,
18administrator, personal representative or trustee is discharged. The filing of
such 19the receipt shall in no manner affect the obligation of the
executor, administrator, 20personal representative or trustee to file income, sales
, and withholding returns
21covering transactions reportable during the final taxable year of the estate or trust
22and to pay income, sales, use and withholding taxes, penalties, interest
, and costs
23due as the result of such transactions.
AB933, s. 26
24Section
26. 71.15 (2) of the statutes is amended to read:
AB933,16,10
171.15
(2) A personal exemption for the decedent under s. 71.07 (8) shall not be
2allowed the
executor or administrator personal representative, except against the
3tax on income of the decedent in the year of death. If the decedent would have been
4entitled to an exemption for the decedent's spouse or a dependent under s. 71.07 (8),
5had the decedent lived,
such the exemption shall be allowed to the
executor or
6administrator personal representative so long as over one-half of the support of the
7spouse or dependent is supplied by the decedent or by the
executor or administrator 8personal representative from the decedent's estate and the gross income of the
9spouse or dependent for the calendar year in which the taxable year of the
executor
10or administrator personal representative begins is less than $500.
AB933, s. 27
11Section
27. 71.17 (3) of the statutes is renumbered 71.17 (3) (intro.) and
12amended to read:
AB933,16,1813
71.17
(3) Liability for payment of taxes due from decedent. (intro.) Any
14income, withholding, sales, use
, or gift taxes, penalties, interest
, and costs found to
15be due from a decedent, an estate
, or a trust for any of the years open to assessment
16under s. 71.77 and any delinquent income, withholding, sales, use
, or gift taxes,
17penalties, interest
, and costs found to be due shall be assessed against and paid by
18the executor, administrator, one of the following:
AB933,16,21
19(a) The personal representative or trustee
; any of such items found to be due
20after the executor, administrator, personal representative or trustee is discharged
21shall be assessed against and paid by the.