AB778: Bill Text

AB778,135 Section 135. 202.22 (8) of the statutes is repealed.

AB778,136 Section 136. 202.22 (9) (am) of the statutes is amended to read:

AB778,41,5 202.22 (9) (am) The department shall maintain and periodically update a list of all professional employer organizations and professional employer groups registered under this section, and shall make the list available on the department's Internet Web site upon request. The list shall include the address of each registrant.

AB778,137 Section 137. 202.23 (1) of the statutes is amended to read:

AB778,41,20 202.23 (1) Working capital requirement. Working capital, as defined by generally accepted accounting principles, of not less than $100,000, as shown in the financial statement submitted to the department under s. 202.22 (2) (f) 1., (4) (a), or (6). If a professional employer organization or professional employer group has less than $100,000 in working capital, the department may issue a registration or renewal registration contingent on the registrant meeting the working capital requirement of this subsection no later than 180 days after the issuance of the registration or renewal registration. During the period of contingent registration, the registrant shall submit quarterly financial statements to the department accompanied by an attestation by the chief executive officer of the registrant that all wages, salaries, employee benefits, worker's compensation insurance premiums, payroll taxes, unemployment insurance contributions, and other amounts that are payable to or with respect to an employee of the registrant performing services for a client were paid by the registrant when due.

AB778,138 Section 138. 202.23 (2) of the statutes is amended to read:

AB778,42,18 202.23 (2) Alternative commitment. A bond, certificate of deposit, escrow account, or irrevocable letter of credit in an amount that is not less than $100,000 or, if the financial statement submitted to the department under s. 202.22 (2) (f) 1., (4), or (6) indicates a deficit in negative working capital, a bond, certificate of deposit, escrow account, or irrevocable letter of credit in an amount that is not less than $100,000 plus an amount that is sufficient to cover that deficit negative amount. The commitment described in this subsection bond shall be in a form approved by the department, shall be held in a depository designated by the department, and shall secure the payment by the professional employer organization or professional employer group of any wages, salaries, employee benefits, worker's compensation insurance premiums, payroll taxes, unemployment insurance contributions, or other amounts that are payable to or with respect to an employee performing services for a client if the professional employer organization or professional employer group does not make those payments when due. The commitment bond shall be established in favor of or be made payable to the department, for the benefit of the state and any employee to whom or with respect to whom the professional employer organization or professional employer group does not make a payment described in this subsection when due. The professional employer organization or professional employer group shall file with the department any agreement, instrument, or other document that is necessary to enforce the commitment against the professional employer organization or professional employer group, or against any relevant 3rd party, or both.

AB778,139 Section 139. 202.26 (intro.) and (2) of the statutes are consolidated, renumbered 202.26 and amended to read:

AB778,42,25 202.26 Rules. (intro.) The rules the department promulgates under s. 202.095 202.07 (4m) that implement this subchapter shall may include rules providing for all of the following: (2) Reasonable reasonable fees for any service provided under this chapter that do not exceed an amount that is necessary to cover the cost of providing that service.

AB778,140 Section 140. 202.26 (1) and (3) of the statutes are repealed.

AB778,141 Section 141. 227.01 (13) (yx) of the statutes is created to read:

AB778,43,5 227.01 (13) (yx) Relates to adjustments under s. 202.12 (8), exemptions under s. 202.12 (6m) (e), or the alternative registration of professional employer organizations under s. 202.22 (7) (b).

AB778,142 Section 142. DFI-Bkg 60.01 of the administrative code is amended to read:

AB778,43,8 DFI-Bkg 60.01 Authority. This chapter is adopted pursuant to ss. 202.12 (3) (am), 202.12 (8), 202.155 (4), and 227.11 (2) s. 202.07 (4m), Stats.

AB778,143 Section 143. DFI-Bkg 60.02 (3) of the administrative code is repealed.

AB778,144 Section 144. DFI-Bkg 60.03 (intro.) and (1) of the administrative code are repealed.

AB778,145 Section 145. DFI-Bkg 60.03 (2) (title) of the administrative code is renumbered DFI-Bkg 60.03 (title).

AB778,146 Section 146. DFI-Bkg 60.03 (2) of the administrative code is amended to read:

AB778,44,3 DFI-Bkg 60.03 (2) A registered charitable organization which desires that operates solely within one community and that received less than $50,000 in contributions during its most recently completed fiscal year may apply to the department to be exempted from the solicitation disclosure requirements of s. 202.155 (1) and (2), Stats., may apply for the exemption by filing the affidavit prescribed by s. DFI-Bkg 60.04 s. 202.12 (6m) (b), Stats. The application shall be made on forms and in the manner prescribed by the department. A registered charitable organization which has applied for the exemption may not conduct solicitations without making the disclosures required under s. 202.155 (1) and (2) 202.12 (6m), Stats., until the registered charitable organization has received written notice from the department that the department has granted the exemption. A registered charitable organization may qualify for the exemption from solicitation disclosures regardless of whether it uses a professional fund-raiser or an unpaid solicitor for the solicitation of contributions to the registered charitable organization.

AB778,147 Section 147. DFI-Bkg 60.03 (3) of the administrative code is created to read:

AB778,44,9 DFI-Bkg 60.03 (3) If a registered charitable organization obtains an exemption under sub. (2), a professional fund-raiser who solicits contributions on behalf of the registered charitable organization is exempt from the solicitation disclosure requirements in s. 202.14 (11) (c), Stats., when soliciting contributions on behalf of the registered charitable organization.

AB778,148 Section 148. DFI-Bkg 60.04 of the administrative code is repealed.

AB778,149 Section 149. DFI-Bkg 60.05 of the administrative code is repealed.

AB778,150 Section 150. DFI-Bkg 60.06 (title) and (1) of the administrative code are repealed.

AB778,151 Section 151. DFI-Bkg 60.06 (note) of the administrative code is repealed.

AB778,152 Section 152. DFI-Bkg 60.06 (2) (title) of the administrative code is renumbered DFI-Bkg 60.06 (title).

AB778,153 Section 153. DFI-Bkg 60.06 (2) of the administrative code is amended to read:

AB778,44,23 DFI-Bkg 60.06 (2) A central organization may file a single application for charitable organization registration of the central organization and all of its affiliated subunits, provided that the central organization has complete and direct control over the solicitation activities of all subunits, receives all contributions for its use or future distribution to the subunits and is accountable for all receipts and disbursements relating to the solicited contributions.

AB778,154 Section 154. DFI-Bkg 60.07 of the administrative code is repealed.

AB778,155 Section 155. DFI-Bkg 60.075 (2) (c) of the administrative code is amended to read:

AB778,45,4 DFI-Bkg 60.075 (2) (c) The contents of the mailing do not include the name or contact information of the professional fund-raiser or the fund-raising counsel.

AB778,156 Section 156. DFI-Bkg 60.08 (title) of the administrative code is amended to read:

AB778,45,7 DFI-Bkg 60.08 (title) Annual financial reports.

AB778,157 Section 157. DFI-Bkg 60.08 (1) of the administrative code is amended to read:

AB778,45,12 DFI-Bkg 60.08 (1) Only charitable organizations which are registered or are required to be registered with the department are required to file an annual report or an affidavit in lieu of an annual report with the department under s. 202.12 (3), Stats.

AB778,158 Section 158. DFI-Bkg 60.08 (2) of the administrative code is repealed.

AB778,159 Section 159. DFI-Bkg 60.08 (3) and (note) of the administrative code are amended to read:

AB778,45,24 DFI-Bkg 60.08 (3) An annual financial report submitted to the department pursuant to s. 202.12 (3), 202.13 (2m), or 202.14 (2m), Stats., by a charitable organization which is registered or required to be registered shall be complete, accurate and truthful. It shall include all schedules and attachments required by the form prepared by the department pursuant to s. 202.12 (3) (a), Stats., or prepared by another person pursuant to s. 202.12 (4), Stats. A charitable organization which files with the department financial information which it has filed with another state or the federal government shall complete a supplemental form prepared by the department which requires additional information to comply with sub. (2).

AB778,46,4 Note: The annual Annual report form and the supplemental form forms may be obtained upon request from the current Internet site of the Department of Financial Institutions, Division of Banking, 201 West Washington Avenue, P.O. Box 7876, Madison, Wisconsin 53707-7876.

AB778,160 Section 160. DFI-Bkg 60.08 (3m) of the administrative code is repealed.

AB778,161 Section 161. DFI-Bkg 60.08 (4) of the administrative code is repealed.

AB778,162 Section 162. Effective date.

AB778,46,9 (1) This act takes effect on June 1, 2016, or on the day after publication, whichever is later.

AB778,46,10 (End)