AB1039,15,97 4. If a contract is terminated under sub. (6) (a) 5., refund to the person who
8entered into the contract the amount under subd. 2. or under subd. 3., as determined
9by the department state treasurer.
AB1039,15,1510 5. If the beneficiary is awarded a scholarship, tuition waiver or similar subsidy
11that cannot be converted into cash by the beneficiary, refund to the person who
12entered into the contract, upon the person's request, an amount equal to the value
13of the tuition units that are not needed because of the scholarship, waiver or similar
14subsidy and that would otherwise have been paid by the department state treasurer
15on behalf of the beneficiary during the semester in which the beneficiary is enrolled.
AB1039,15,1716 (b) The department state treasurer shall determine the method and schedule
17for the payment of refunds under this subsection.
AB1039,15,21 18(7m) (a) (intro.) The department state treasurer may adjust the value of a
19tuition unit based on the actual earnings attributable to the tuition unit less the costs
20of administering the program under this section that are attributable to the tuition
21unit if any of the following applies:
AB1039,16,222 (b) The department state treasurer may not increase the value of a tuition unit
23under par. (a) to an amount that exceeds the value of a tuition unit that was
24purchased at a similar time, held for a similar period and used or refunded in the

1anticipated academic year of the beneficiary's attendance, as specified in the
2contract.
AB1039,16,73 (c) The department state treasurer may promulgate rules imposing or
4increasing penalties for refunds under sub. (7) (a) if the department state treasurer
5determines that such rules are necessary to maintain the status of the program
6under this section as a qualified state tuition program under section 529 of the
7Internal Revenue Code, as defined in s. 71.01 (6).
AB1039,16,12 8(9) Contract with actuary. The department state treasurer shall contract
9with an actuary or actuarial firm to evaluate annually whether the assets in the
10tuition trust fund are sufficient to meet the obligations of the department state
11treasurer
under this section and to advise the department state treasurer on setting
12the price of a tuition unit under sub. (2) (b).
AB1039,16,18 13(10) (a) Annually, the department state treasurer shall submit a report to the
14governor, and to the appropriate standing committees of the legislature under s.
1513.172 (3), on the program under this section. The report shall include any
16recommendations for changes to the program that the department state treasurer
17determines are necessary to ensure the sufficiency of the tuition trust fund to meet
18the department's state treasurer's obligations under this section.
AB1039,16,2419 (b) The department state treasurer shall submit a quarterly report to the state
20investment board projecting the future cash flow needs of the tuition trust fund. The
21state investment board shall invest moneys held in the tuition trust fund in
22investments with maturities and liquidity that are appropriate for the needs of the
23fund as reported by the department state treasurer in its his or her quarterly reports.
24All income derived from such investments shall be credited to the fund.
AB1039,17,2
1(12) (title) Additional duties and powers of the state treasurer. (a) (intro.)
2The department state treasurer shall do all of the following:
AB1039,17,33 (b) (intro.) The department state treasurer may do any of the following:
AB1039,17,7 4(13) Program termination. If the department state treasurer determines that
5the program under this section is financially infeasible, the department state
6treasurer
shall discontinue entering into contracts under sub. (3) and discontinue
7selling tuition units under sub. (4).
AB1039,33 8Section 33. 16.641 of the statutes is renumbered 14.64, and 14.64 (2) (g), as
9renumbered, is amended to read:
AB1039,17,1210 14.64 (2) (g) Ensure that if the department of administration changes vendors,
11the balances of college savings accounts are promptly transferred into investment
12instruments as similar to the original investment instruments as possible.
AB1039,34 13Section 34. 16.642 of the statutes is renumbered 14.65 and amended to read:
AB1039,17,21 1414.65 Repayment to the general fund. (1) The secretary state treasurer
15shall transfer from the tuition trust fund, the college savings program trust fund, the
16college savings program bank deposit trust fund, or the college savings program
17credit union deposit trust fund to the general fund an amount equal to the amount
18expended from the appropriations under s. 20.505 (9) (a), 1995 stats., s. 20.585 (2)
19(a), 2001 stats., and s. 20.585 (2) (am), 2001 stats., when the secretary state treasurer
20determines that funds in those trust funds are sufficient to make the transfer. The
21secretary state treasurer may make the transfer in installments.
AB1039,17,24 22(2) Annually, by June 1, the secretary state treasurer shall submit a report to
23the joint committee on finance on the amount available for repayment under sub. (1),
24the amount repaid under sub. (1), and the outstanding balance under sub. (1).
AB1039,35 25Section 35. 18.60 (3) of the statutes is amended to read:
AB1039,19,5
118.60 (3) The principal proceeds from the sale of any refunding obligations
2shall be applied either to the immediate payment and retirement of the obligations
3or notes being refinanced or, if the obligations or notes have not matured and are not
4presently redeemable, to the creation of a trust for and shall be pledged to the
5payment of the obligations or notes being refinanced. If a trust is created, a separate
6deposit shall be made for each issue of obligations or notes being refinanced. Each
7deposit shall be with the secretary of administration state treasurer or a bank or
8trust company that is then a member of the federal deposit insurance corporation.
9If the total amount of any deposit, including money other than sale proceeds but
10legally available for such purpose, is less than the principal amount of the obligations
11or notes being refinanced and for the payment of which the deposit has been created
12and pledged, together with applicable redemption premiums and interest accrued
13and to accrue to maturity or to the date of redemption, then the application of the sale
14proceeds shall be legally sufficient only if the money deposited is invested in
15securities issued by the United States or one of its agencies, or securities fully
16guaranteed by the United States, and only if the principal amount of the securities
17at maturity and the income therefrom to maturity will be sufficient and available,
18without the need for any further investment or reinvestment, to pay at maturity or
19upon redemption the principal amount of the obligations or notes being refinanced
20together with applicable redemption premiums and interest accrued and to accrue
21to maturity or to the date of redemption. The income from the principal proceeds of
22the securities shall be applied solely to the payment of the principal of and interest
23and redemption premiums on the obligations or notes being refinanced, but
24provision may be made for the pledging and disposition of any surplus. Nothing in
25this subsection shall be construed as a limitation on the duration of any deposit in

1trust for the retirement of obligations or notes being refinanced, but which have not
2matured and which are not presently redeemable. Nothing in this subsection shall
3be construed to prohibit reinvestment of the income of a trust if the reinvestments
4will mature at such times that sufficient cash will be available to pay interest,
5applicable premiums, and principal on the obligations or notes being refinanced.
AB1039,36 6Section 36. 19.43 (7) of the statutes is amended to read:
AB1039,19,197 19.43 (7) If an official required to file fails to make a timely filing, the
8commission shall promptly provide notice of the delinquency to the secretary of
9administration
state treasurer, and to the chief executive of the department of which
10the official's office or position is a part, or, in the case of a district attorney, to the chief
11executive of that department and to the county clerk of each county served by the
12district attorney or in the case of a municipal judge to the clerk of the municipality
13of which the official's office is a part, or in the case of a justice, court of appeals judge,
14or circuit judge, to the director of state courts. Upon such notification both the
15secretary of administration state treasurer and the department, municipality, or
16director shall withhold all payments for compensation, reimbursement of expenses,
17and other obligations to the official until the commission notifies the officers to whom
18notice of the delinquency was provided that the official has complied with this
19section.
AB1039,37 20Section 37 . 20.005 (3) (schedule) of the statutes: at the appropriate place,
21insert the following amounts for the purposes indicated: - See PDF for table PDF
AB1039,38 1Section 38. 20.437 (2) (qm) of the statutes is amended to read:
AB1039,20,72 20.437 (2) (qm) Child support state operations and reimbursement for claims
3and expenses; unclaimed payments.
From the support collections trust fund, a sum
4sufficient equal to the amounts credited under s. 20.912 (1) to the support collections
5trust fund and the amounts not distributable under par. (r) for administering the
6program under s. 49.22 and all other purposes specified in s. 49.22 and for
7reimbursing the secretary of revenue state treasurer under s. 177.265.
AB1039,39 8Section 39. 20.505 (1) (gc) of the statutes is renumbered 20.585 (1) (g).
AB1039,40 9Section 40. 20.505 (1) (kj) of the statutes is amended to read:
AB1039,20,1710 20.505 (1) (kj) Financial services. The amounts in the schedule to provide
11accounting, auditing, payroll, and other financial services to state agencies, to
12provide banking service cost analysis and cash management assistance for state
13agencies and state funds under s. 25.19 (3),
and to transfer the amounts appropriated
14under s. 20.585 (1) (kb) to the appropriation account under s. 20.585 (1) (kb). All
15moneys received from the provision of accounting, auditing, payroll, and other
16financial services to state agencies and from assessments paid under s. 25.14 (3)
17shall be credited to this appropriation.
AB1039,41 18Section 41. 20.505 (1) (tb) of the statutes is renumbered 20.585 (2) (q) and
19amended to read:
AB1039,21,220 20.585 (2) (q) Payment of qualified higher education expenses and refunds;
21college tuition and expenses program.
From the tuition trust fund, a sum sufficient

1for the payment of qualified higher education expenses and refunds under s. 16.64
214.63 (5) and (7).
AB1039,42 3Section 42. 20.505 (1) (td) of the statutes is renumbered 20.585 (2) (s) and
4amended to read:
AB1039,21,85 20.585 (2) (s) Administrative expenses; college tuition and expenses program.
6From the tuition trust fund, the amounts in the schedule for the administrative
7expenses of the college tuition and expenses program under s. 16.64 14.63, including
8the expense of promoting the program.
AB1039,43 9Section 43. 20.505 (1) (tf) of the statutes is renumbered 20.585 (2) (t) and
10amended to read:
AB1039,21,1411 20.585 (2) (t) Payment of qualified higher education expenses and refunds;
12college savings program trust fund.
From the college savings program trust fund, a
13sum sufficient for the payment of qualified higher education expenses and refunds
14under s. 16.641 14.64 (2) and (3).
AB1039,44 15Section 44. 20.505 (1) (th) of the statutes is renumbered 20.585 (2) (tm) and
16amended to read:
AB1039,21,2017 20.585 (2) (tm) Administrative expenses; college savings program trust fund.
18From the college savings program trust fund, the amounts in the schedule for the
19administrative expenses of the college savings program under s. 16.641 14.64,
20including the expense of promoting the program.
AB1039,45 21Section 45. 20.505 (1) (tj) of the statutes is renumbered 20.585 (2) (u) and
22amended to read:
AB1039,22,223 20.585 (2) (u) Payment of qualified higher education expenses and refunds;
24college savings program bank deposit trust fund.
From the college savings program

1bank deposit trust fund, a sum sufficient for the payment of qualified higher
2education expenses and refunds under s. 16.641 14.64 (2) and (3).
AB1039,46 3Section 46. 20.505 (1) (tL) of the statutes is renumbered 20.585 (2) (um) and
4amended to read:
AB1039,22,85 20.585 (2) (um) Administrative expenses; college savings program bank deposit
6trust fund.
From the college savings program bank deposit trust fund, the amounts
7in the schedule for the administrative expenses of the college savings program under
8s. 16.641 14.64, including the expense of promoting the program.
AB1039,47 9Section 47. 20.505 (1) (tn) of the statutes is renumbered 20.585 (2) (v) and
10amended to read:
AB1039,22,1411 20.585 (2) (v) Payment of qualified higher education expenses and refunds;
12college savings program credit union deposit trust fund.
From the college savings
13program credit union deposit trust fund, a sum sufficient for the payment of qualified
14higher education expenses and refunds under s. 16.641 14.64 (2) and (3).
AB1039,48 15Section 48. 20.505 (1) (tp) of the statutes is renumbered 20.585 (2) (vm) and
16amended to read:
AB1039,22,2017 20.585 (2) (vm) Administrative expenses; college savings program credit union
18deposit trust fund.
From the college savings program credit union deposit trust fund,
19the amounts in the schedule for the administrative expenses of the college savings
20program under s. 16.641 14.64, including the expense of promoting the program.
AB1039,49 21Section 49. 20.566 (4) of the statutes is repealed.
AB1039,50 22Section 50. 20.585 (1) (a) of the statutes is created to read:
AB1039,22,2423 20.585 (1) (a) General program operations. As a continuing appropriation, the
24amounts in the schedule for the general program operations of the state treasurer.
AB1039,51 25Section 51 . 20.585 (1) (e) of the statutes is created to read:
AB1039,23,3
120.585 (1) (e) Unclaimed property; contingency appropriation. A sum sufficient
2to pay claims under ss. 177.24 to 177.26 and 863.39 (3). Money may be paid under
3this paragraph only if sufficient funds are not available under par. (j).
AB1039,52 4Section 52 . 20.585 (1) (j) of the statutes is created to read:
AB1039,23,85 20.585 (1) (j) Unclaimed property; claims. All moneys received under ss. 177.23
6(2), 852.01 (3), 863.37 (2), and 863.39 to pay claims under ss. 177.24 to 177.26 and
7863.39 (3) and to transfer the amounts appropriated under par. (k) to the
8appropriation account under par. (k).
AB1039,53 9Section 53 . 20.585 (1) (jt) of the statutes is created to read:
AB1039,23,1310 20.585 (1) (jt) Cash management services. The amounts in the schedule for the
11cost of providing banking service cost analysis and cash management assistance for
12state agencies and state funds under s. 25.19 (3). The assessments paid under s.
1325.14 (3) shall be credited to this appropriation account.
AB1039,54 14Section 54. 20.585 (1) (k) of the statutes is amended to read:
AB1039,23,2015 20.585 (1) (k) Administrative Unclaimed property; administrative expenses.
16From moneys transferred from the appropriation account under s. 20.566 (4) par. (j),
17the amounts in the schedule for the promotion of the unclaimed property program
18under
administrative expenses incurred in administering ch. 177. Notwithstanding
19s. 20.001 (3) (a), at the end of each fiscal year the unencumbered balance in this
20appropriation shall revert to the appropriation under s. 20.566 (4) par. (j).
AB1039,55 21Section 55. 20.585 (1) (kf) of the statutes is created to read:
AB1039,23,2322 20.585 (1) (kf) Administrative services. All moneys received under s. 24.64 for
23administrative services provided to the board of commissioners of public lands.
AB1039,56 24Section 56 . 20.585 (1) (km) of the statutes is created to read:
AB1039,24,2
120.585 (1) (km) Credit card use charges. All moneys received under ss. 59.25
2(3) (j) and (k) and 85.14, to pay the charges under ss. 23.49 and 85.14 (1) (b) and (2).
AB1039,57 3Section 57. 20.585 (2) (title) of the statutes is created to read:
AB1039,24,44 20.585 (2) (title) College savings program.
AB1039,58 5Section 58. 20.906 (1) of the statutes is amended to read:
AB1039,24,156 20.906 (1) Frequency of deposits. Unless otherwise provided by law, all
7moneys collected or received by any state agency for or in behalf of the state or which
8are required by law to be turned into the state treasury shall be deposited in or
9transmitted to the state treasury at least once a week and also at other times as
10required by the governor or the secretary of administration state treasurer and shall
11be accompanied by a statement in such form as the secretary of administration state
12treasurer
may prescribe showing the amount of such collection and from whom and
13for what purpose or on what account the same was received. All moneys paid into
14the treasury shall be credited to the general purpose revenues of the general fund
15unless otherwise specifically provided by law.
AB1039,59 16Section 59. 20.906 (4) of the statutes is amended to read:
AB1039,25,217 20.906 (4) Penalties. If any state agency fails to make such deposits of money,
18or to make such reports as are required by this section, the department of
19administration, with the approval of the governor, shall withhold all moneys due
20such state agency until this section is complied with; and upon such failure to make
21such deposits of money, the officer or employee so failing shall be liable to the
22secretary of administration state treasurer for an amount equal to the interest upon
23the moneys so withheld from deposit at the same rate as that received by the state
24upon moneys held in the state investment fund, for the period for which such deposit

1is withheld; and such interest shall be a charge against the officer or employee and
2shall be deducted from that person's compensation.
AB1039,60 3Section 60. 20.906 (5) of the statutes is amended to read:
AB1039,25,154 20.906 (5) Conditions precedent to release of appropriations. All
5appropriations from state revenues for any state agency are made on the express
6conditions that such state agency pays all moneys received by it into the state
7treasury within one week of receipt or as often as otherwise directed by the governor
8or secretary of administration state treasurer, and conforms with ss. 16.53 (1) and
920.002, regardless of the type of appropriations made to the state agency. Upon
10failure to comply with this subsection, the department of administration shall refuse
11to draw its warrant and the state treasurer shall refuse to pay any moneys
12appropriated to the state agency from state revenues until the state agency complies
13with this subsection. Upon failure or refusal to so comply, after due notice received
14from the department of administration, any appropriations from state revenues to
15the state agency shall permanently revert to the fund from which appropriated.
AB1039,61 16Section 61. 20.906 (6) of the statutes is amended to read:
AB1039,25,2017 20.906 (6) Direct deposits. The governor or the secretary of administration
18state treasurer may require state agencies making deposits under this section to
19make direct deposits to any depository designated by the depository selection board,
20if such a requirement is advantageous or beneficial to this state.
AB1039,62 21Section 62. 20.907 (2) of the statutes is amended to read:
AB1039,26,422 20.907 (2) Custody and accounting. The secretary of administration state
23treasurer
shall have custody of all such gifts, grants, and bequests in the form of cash
24or securities. The department of administration shall keep a separate account for
25each state agency receiving such gifts, grants, and bequests, including therein

1investments, accumulations, payments, and any other transaction pertaining to
2such moneys. If no state agency is designated by the donor to carry out the purposes
3of the conveyance, the joint committee on finance shall appoint a state agency to act
4as trustee.
AB1039,63 5Section 63. 20.907 (5) (a) of the statutes is amended to read:
AB1039,26,96 20.907 (5) (a) Except as provided in par. (b), all moneys that may come into the
7possession of any officer or employee of a state agency by virtue of his or her office
8or employment shall be deposited with the secretary of administration state
9treasurer
, regardless of the ownership thereof.
AB1039,64 10Section 64. 20.907 (5) (b) of the statutes is amended to read:
AB1039,26,1611 20.907 (5) (b) Paragraph (a) does not apply whenever the disposition of moneys
12is otherwise provided by law or whenever a state agency receives moneys incident
13to an authorized activity that are not appropriated and not directed to be deposited
14with the secretary of administration state treasurer and the agency promulgates a
15rule that prescribes procedures in accordance with ch. 34 for the deposit of the
16moneys.
AB1039,65 17Section 65. 20.907 (5) (c) of the statutes is amended to read:
AB1039,26,2418 20.907 (5) (c) The secretary of administration state treasurer shall establish
19an account for moneys received under par. (a) from each source and shall make
20payments and refunds from each account authorized under par. (e) as directed by the
21state agency depositing the moneys, unless otherwise provided by law. Each
22payment shall be made upon submission of a claim audited under s. 16.53 and paid
23by voucher from the appropriation under s. 20.855 (6) (j) in accordance with
24procedures established by the secretary of administration.
AB1039,66 25Section 66. 20.907 (5) (d) of the statutes is amended to read:
AB1039,27,2
120.907 (5) (d) Each account under this subsection shall be established in the
2appropriate fund, as determined by the secretary of administration state treasurer.
AB1039,67 3Section 67 . 20.907 (5) (e) 12e. of the statutes is repealed.
AB1039,68 4Section 68 . 20.907 (5) (e) 12r. of the statutes is repealed.
AB1039,69 5Section 69. 20.909 (2) of the statutes is amended to read:
AB1039,27,106 20.909 (2) Escheated property. The secretary of revenue state treasurer may
7sell either at public or private sale any personal property turned over to the secretary
8state treasurer as an escheat. The proceeds of any such sale shall become a part of
9the school fund, and shall be subject to refund as specified by the provision of law
10pursuant to which the property escheated.
AB1039,70 11Section 70. 20.912 (1) of the statutes is amended to read:
AB1039,27,1812 20.912 (1) Cancellation of outstanding checks and share drafts. If any
13check, share draft, or other draft drawn and issued by the state treasurer upon the
14funds of the state in any state depository is not paid within the time period
15designated by the secretary of administration state treasurer under s. 16.401 (10)
1614.58 (12) as shown on the check or other draft, the secretary of administration state
17treasurer
shall cancel the check or other draft and credit the amount thereof to the
18fund on which it is drawn.
AB1039,71 19Section 71. 20.912 (3) of the statutes is amended to read:
AB1039,28,220 20.912 (3) Reissue of canceled checks, share drafts, and other drafts.
21Subject to sub. (2), when the payee or person entitled to any check, share draft, or
22other draft canceled under sub. (1) by the state treasurer, or the payee or person
23entitled to any warrant so canceled by the department of administration, demands
24such check, share draft, other draft, or warrant or payment thereof, the department

1of administration shall issue a new warrant therefor, to be paid from the appropriate
2appropriation account under s. 20.855 (1) (bm), (gm), or (rm).
AB1039,72 3Section 72. 20.912 (4) of the statutes is amended to read:
AB1039,28,144 20.912 (4) Insolvent depositories. When the bank, savings and loan
5association, savings bank, or credit union on which any check, share draft, or other
6draft is drawn by the secretary of administration state treasurer before payment of
7such check, share draft, or other draft becomes insolvent or is taken over by the
8division of banking, the federal home loan bank board, the U.S. office of thrift
9supervision, the federal deposit insurance corporation, the resolution trust
10corporation, the office of credit unions, the administrator of federal credit unions, or
11the U.S. comptroller of the currency, the secretary of administration state treasurer
12shall on the demand of the person in whose favor such check, share draft, or other
13draft was drawn and upon the return to the secretary state treasurer of such check,
14share draft, or other draft issue a replacement for the same amount.
AB1039,73 15Section 73. 20.912 (5) of the statutes is amended to read:
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