Summary of factual data and analytical methodologies:
The Cemetery Board performed a review of its administrative rules pursuant to s. 227.29, Stats., and determined that s. CB 4.05 was ambiguous as to which trustee must submit the verification of trustee transfer to the Cemetery Board as required by s. 157.19 (2) (c), Stats. This rule project remedies that ambiguity by revising the rule to require the cemetery authority to submit the verification, as required by the statute. The rule will also be modified to require the cemetery authority to request that the new trustee also submit the verification form to affirm that they are aware of the transfer and have received the funds. Analysis and supporting documents used to determine effect on small business or in preparation of economic impact analysis:
The proposed rule was posted for 14 days to receive public comment on the economic impact of the proposed rule. No comments were received.
Fiscal Estimate and Economic Impact Analysis:
The Fiscal Estimate and Economic Impact Analysis is attached.
Effect on small business:
These proposed rules do not have an economic impact on small businesses, as defined in s. 227.114 (1), Stats. The Department’s Regulatory Review Coordinator may be contacted by email at Daniel.Hereth@wisconsin.gov, or by calling (608) 267-2435. Agency contact person:
Jon Derenne, Administrative Rules Coordinator, Department of Safety and Professional Services, Division of Policy Development, 4822 Madison Yards Way, P.O. Box 8366, Madison, Wisconsin 53708; telephone 608-266-0955; email at DSPSAdminRules@wisconsin.gov. ------------------------------------------------------------------------------------------------------------
TEXT OF RULE
Section 1. CB 1.015 is repealed and recreated to read:
CB 1.015 Definitions. As used in chs. CB 1 to 6: (1) “Board” means the cemetery board.
(2) “Care fund” has the meaning given in s. 157.061 (1m), Stats. (2) “Cemetery authority” has the meaning given in s. 157.061 (2), Stats. (3) “Financial institution” has the meaning given in s. 705.01 (3), Stats. (4) “Preneed trust fund” has the meaning given in s. 157.061 (13), Stats. Section 2. CB 2.015 is repealed.
Section 3. CB 4.015 is repealed.
Section 4. CB 4.05 is amended to read:
CB 4.05 Verification of deposit. Within 30 days after the transfer of the care fund or preneed trust fund, the trustee cemetery authority shall submit information to the board verifying the transfer, including the amount deposited, the date the deposit was made, and the account number of the fund. In addition, the cemetery authority shall request that the new trustee submit the same information to the board verifying the receipt of the funds.
Section 5. CB 5.03 (intro.) and (1) are consolidated, renumbered, and amended to read:
CB 5.03 Definitions. As used in this chapter: (1) “Alternative alternative investment means the use of care funds received from the sale of cemetery lots by a cemetery authority to purchase investment instruments, rather than depositing the care funds in a financial institution under s. 157.19, Stats., or with the treasurer of the county or city in which the cemetery is located. Section 6. CB 5.03 (2) is repealed.
Section 7. EFFECTIVE DATE. The rules adopted in this order shall take effect on the first day of the month following publication in the Wisconsin Administrative Register, pursuant to s. 227.22 (2) (intro.), Stats. ------------------------------------------------------------------------------------------------------------
(END OF TEXT OF RULE)
------------------------------------------------------------------------------------------------------------
Dated __August 11, 2020 __________________________________
Chair
