AB752,76,2521
177.1005
(4) The Except as provided in s. 177.1004, the administrator may not
22enter into a contract or other agreement as part of an effort to administer this chapter
23that allows a person that is engaging in an audit of another person's documents or
24records to use statistical sampling to estimate the other person's liability unless the
25other person consents to the use of an estimate.
AB752,176
1Section
176. 177.31 of the statutes is repealed.
AB752,177
2Section
177. 177.32 of the statutes is repealed.
AB752,178
3Section
178. 177.33 of the statutes is repealed.
AB752,179
4Section
179. 177.34 of the statutes is repealed.
AB752,180
5Section
180. 177.35 of the statutes is repealed.
AB752,181
6Section
181. 177.36 of the statutes is repealed.
AB752,182
7Section
182. 177.37 of the statutes is renumbered 177.1502 and amended to
8read:
AB752,77,17
9177.1502 Effect of new provisions; clarification of application. (1) This
10chapter does not relieve a holder of a duty that arose before
December 31, 1984 the
11effective date of this subsection .... [LRB inserts date], to report, pay
, or deliver
12property.
A Subject to ss. 177.0610 (2) and (3), a holder who did not comply with the
13law
governing unclaimed property in effect before
December 31, 1984 the effective
14date of this subsection .... [LRB inserts date], is subject to the applicable enforcement
15and penalty provisions
that then existed and they are continued in effect
for the
16purpose of this subsection, except as provided in s. 177.29 (2)
before the effective date
17of this subsection .... [LRB inserts date].
AB752,77,24
18(2) The initial report filed under this chapter for property that was not required
19to be reported before
December 31, 1984 the effective date of this subsection .... [LRB
20inserts date], but
which is subject to
that is required to be reported under this
21chapter, shall include all items of property that would have been presumed
22abandoned during the 10-year period preceding
December 31, 1984 the effective
23date of this subsection .... [LRB inserts date], as if this chapter had been in effect
24during that period.
AB752,183
25Section
183. 177.38 of the statutes is renumbered 177.016.
AB752,184
1Section
184. 177.40 of the statutes is renumbered 177.1501.
AB752,185
2Section
185. 177.41 of the statutes is renumbered 177.1503.
AB752,186
3Section
186. 193.735 (1) (intro.) of the statutes is amended to read:
AB752,78,94
193.735
(1) Alternate procedure to distribute property. (intro.)
5Notwithstanding
s. 177.17 (4) (a) 2. and (b)
ch. 177, a cooperative may distribute any
6property required to be reported under
s. 177.17 (1) subch. IV of ch. 177 to an entity
7that is exempt from taxation under section
501 (a) of the Internal Revenue Code. A
8cooperative making a distribution under this subsection shall file all of the following
9with the secretary of revenue before making the distribution:
AB752,187
10Section
187. 193.735 (2) of the statutes is amended to read:
AB752,78,1311
193.735
(2) Reporting procedure not affected. Subsection (1) does not affect
12the requirement that a cooperative report property under
s. 177.17 (1) subch. IV of
13ch. 177.
AB752,188
14Section
188. 610.61 of the statutes is amended to read:
AB752,78,17
15610.61 Duty of life insurers to report abandoned property. An insurer
16doing a life insurance business shall report under
s. 177.17 subch. IV of ch. 177 any
17property presumed abandoned under
s. 177.07
subch. II of ch. 177.
AB752,78,2520
632.63
(4) Payment of benefits. The benefits from a policy, contract, or a
21retained asset account, plus any applicable accrued contractual interest, shall first
22be payable to the designated beneficiaries or owners and, in the event said
23beneficiaries or owners cannot be found, shall escheat to the state as unclaimed
24property under ch. 177. Interest payable under s. 628.46 shall not be payable as
25unclaimed property under
s. 177.07 subch. II of ch. 177.
AB752,190
1Section
190. 863.37 (2) (a) of the statutes is amended to read:
AB752,79,102
863.37
(2) (a) Whenever payment of a legacy or a distributive share cannot be
3made to the person entitled to payment or it appears that the person may not receive
4or have the opportunity to obtain payment, the court may, on petition of a person
5interested or on its own motion, order that the funds be paid or delivered to the
6secretary of revenue for deposit as provided under
s. 177.23 subch. VIII of ch. 177.
7Claims on the funds may be made under s. 863.39 within 10 years after the date of
8publication under s.
177.18 177.0503. When a claimant to the funds resides outside
9the United States or its territories the court may require the personal appearance
10of the claimant before the court.
AB752,191
11Section
191. 863.39 (1) of the statutes is amended to read:
AB752,79,1712
863.39
(1) Generally. If any legacy or intestate property is not claimed by the
13distributee within 120 days after entry of final judgment, or within the time
14designated in the judgment, it shall be converted into money as close to the inventory
15value as possible and paid to the
secretary of revenue administrator for deposit as
16provided under s.
177.23 177.0801. Claims for the money shall be made under sub.
17(3).
AB752,192
18Section
192. 863.39 (3) (a) of the statutes is amended to read:
AB752,80,819
863.39
(3) (a) Within 10 years after the date of publication under s.
177.18 20177.0503, any person claiming any amount deposited under sub. (1) may file in the
21probate court in which the estate was settled a petition alleging the basis of his or
22her claim. The court shall order a hearing upon the petition, and 20 days' notice of
23the hearing and a copy of the petition shall be given by the claimant to the
24department of revenue and to the attorney general, who may appear for the state at
25the hearing. If the claim is established it shall be allowed without interest, but
1including any increment which may have occurred on securities held, and the court
2shall so certify to the department of administration, which shall audit the claim. The
3secretary of revenue shall pay the claim out of the appropriation under s. 20.566 (4)
4(j). Before issuing the order distributing the estate, the court shall issue an order
5determining the death tax due, if any. If real property has been adjudged to escheat
6to the state under s. 852.01 (3) the probate court which made the adjudication may
7adjudge at any time before title has been transferred from the state that the title
8shall be transferred to the proper owners under this subsection.
AB752,193
9Section
193. 893.95 of the statutes is amended to read:
AB752,80,11
10893.95 Unclaimed property; civil remedies. Any civil action to enforce ch.
11177 is subject to the limitations under s.
177.29 (2) 177.0610.