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SB756,62,20 14177.1206 Recovery of property paid to incorrect claimant. (1) If the
15administrator pays or delivers property under this chapter in error to any person, the
16administrator may assess the value of such property against the person. The
17assessment is subject to interest at the rate for delinquent taxes under s. 71.82 (2)
18from the date of assessment and to action and collection by the administrator under
19ss. 71.91, 71.92, and 73.03 (9), (20), (27), (28), (33m), and (33p), consistent with action
20taken by the department of revenue with respect to delinquent taxes.
SB756,62,24 21(2) The administrator may accept property from a person that receives the
22property in error prior to assessment under sub. (1), if the person acknowledges in
23writing that the property was paid or delivered in error and waives any further
24interest in the property.
SB756,63,4
1(3) The appeal provisions of ss. 71.88 (1) (a) and (2) (a), 71.89, 71.90, 73.01 (1),
2(2), (3), (4), and (4m), and 73.015, as they apply to a taxpayer and the department of
3revenue and consistent with this chapter, shall apply to the person and the
4administrator with respect to an assessment under this chapter.
SB756,139 5Section 139. 177.13 of the statutes is repealed.
SB756,140 6Section 140 . Subchapter XIII (title) of chapter 177 [precedes 177.1301] of the
7statutes is created to read:
SB756,63,88 CHAPTER 177
SB756,63,99 SUBCHAPTER XIII
SB756,63,1010 Agreement to locate
SB756,63,1111 property OF apparent owner
SB756,63,1212 held by administrator
SB756,141 13Section 141. 177.1301 of the statutes is created to read:
SB756,63,16 14177.1301 When agreement to locate property enforceable. (1) In this
15subchapter, “locator service” means a person who locates, delivers, recovers, or
16assists in the location, delivery, and recovery of property held by the administrator.
SB756,63,18 17(2) An agreement by an apparent owner and locator service is enforceable
18under this chapter only if the agreement complies with all of the following:
SB756,63,2019 (a) It is in a written, valid contract that clearly states the nature of the property
20and the services to be provided.
SB756,63,2121 (b) It is signed by the apparent owner or by an agent of the apparent owner.
SB756,63,2422 (c) It states the amount or value of the property reasonably expected to be
23recovered, computed before and after a deduction for any fee or other compensation
24paid to the locator service.
SB756,64,3
1(d) It includes a clear and prominent statement of the fee or other compensation
2to be paid to the locator service, which may not exceed 10 percent of the actual
3amount or value of the property recovered.
SB756,64,64 (e) It includes a clear and prominent statement disclosing the name and
5address of the holder and whether the property has been paid or delivered to the
6administrator.
SB756,64,87 (f) It includes a clear and prominent statement that the owner may file a claim
8with the administrator without the assistance of a locator service.
SB756,142 9Section 142. 177.1302 of the statutes is created to read:
SB756,64,13 10177.1302 When agreement to locate property void. (1) Subject to sub.
11(2), an agreement under s. 177.1301 is void if it is entered into during the period
12beginning on the date the property is paid or delivered by a holder to the
13administrator and ending 24 months after the payment or delivery.
SB756,64,18 14(2) If any provision of an agreement under s. 177.1301 applies to mineral
15proceeds for which compensation is to be paid to the locator service based in whole
16or in part on a portion of the underlying minerals or mineral proceeds not then
17presumed abandoned, the provision is void regardless of when the parties entered
18into the agreement.
SB756,64,20 19(3) This section does not apply to an apparent owner's agreement with an
20attorney to contest the administrator's denial of a claim for recovery of the property.
SB756,143 21Section 143. 177.135 of the statutes is renumbered 177.0206 and amended to
22read:
SB756,65,3 23177.0206 When U.S. savings bonds presumed abandoned. Except as
24provided in ss. 177.12 (1), 177.13, and 177.16 s. 177.0205, a U.S. savings bond that
25remains unredeemed by the owner for more than 5 years after the date of final

1maturity is presumed abandoned. In this section, “final maturity" means the date
2a U.S. savings bond stops earning interest upon reaching its final extended maturity
3date.
SB756,144 4Section 144. 177.14 of the statutes is repealed.
SB756,145 5Section 145 . Subchapter XIV (title) of chapter 177 [precedes 177.1401] of the
6statutes is created to read:
SB756,65,77 CHAPTER 177
SB756,65,88 SUBCHAPTER XIV
SB756,65,99 confidentiality and security
SB756,65,1010 of information
SB756,146 11Section 146. 177.1401 of the statutes is created to read:
SB756,65,13 12177.1401 Definitions; applicability. (1) In this subchapter, “personal
13information” means the following:
SB756,65,1614 (a) Information that identifies or reasonable can be used to identify an
15individual, including an individual's first and last name in combination with any of
16the following information associated with the individual:
SB756,65,1717 1. A social security number or other government-issued number or identifier.
SB756,65,1818 2. Date of birth.
SB756,65,1919 3. Residential address.
SB756,65,2120 4. An e-mail address or other online contact information or Internet provider
21address.
SB756,65,2222 5. A financial account number or credit or debit card number.
SB756,65,2323 6. Biometric data, health or medical data, or insurance information.
SB756,65,2524 7. Passwords or other credentials that permit access to an online or other
25account.
SB756,66,2
1(b) Personally identifiable financial or insurance information, including
2nonpublic personal information as defined by federal law.
SB756,66,63 (c) Any combination of data that, if accessed, disclosed, modified, or destroyed
4without authorization of the owner of the data or if lost or misused, would require
5notice or reporting under state or federal law, regardless of whether the
6administrator or the administrator's agent is subject to such law.
SB756,66,9 7(2) All provisions of this subchapter that apply to the administrator or the
8records of the administrator apply to the administrator's agent and the records of the
9administrator's agent.
SB756,147 10Section 147. 177.1402 of the statutes is created to read:
SB756,66,13 11177.1402 Confidential information. (1) Except as otherwise provided in
12this chapter, the following are confidential and exempt from public inspection or
13disclosure under subch. II of ch. 19:
SB756,66,1514 (a) Records of the administrator and the administrator's agent related to the
15administration of this chapter.
SB756,66,1716 (b) Reports and records of a holder that are in the possession of the
17administrator or the administrator's agent.
SB756,66,2018 (c) Personal information and other information derived or otherwise obtained
19by or communicated to the administrator or the administrator's agent from an
20examination under this chapter of the records of a person.
SB756,66,2121 (d) Tax information that is confidential under s. 71.78.
SB756,66,24 22(2) A record or other information that is confidential under the laws of this
23state, another state, or the United States continues to be confidential when disclosed
24or delivered under this chapter to the administrator or administrator's agent.
SB756,67,4
1(3) The provisions of s. 71.78 (1) and (1m), as they apply to tax information,
2apply to the confidential information in sub. (1), except that the administrator may
3provide the name of a claimant or owner, along with any property claimed by or paid
4to that claimant or owner, to any other claimant filing a claim for the same property.
SB756,148 5Section 148. 177.1403 of the statutes is created to read:
SB756,67,9 6177.1403 When confidential information may be disclosed. (1) When
7reasonably necessary to enforce or implement this chapter, the administrator may
8disclose confidential information concerning property held by the administrator or
9the administrator's agent only to the following:
SB756,67,1210 (a) An apparent owner or the apparent owner's personal representative or
11special administrator, attorney, guardian, other legal representative, or a person
12entitled to inherit from the deceased apparent owner.
SB756,67,1313 (b) A department or agency of this state or the United States.
SB756,67,1814 (c) The person that administers the unclaimed property law of another state,
15if the other state accords substantially reciprocal privileges to the administrator of
16this state and if the other state is required to maintain the confidentiality and
17security of information obtained in a manner substantially equivalent to that under
18this subchapter.
SB756,67,1919 (d) A person subject to an examination as required by subch. X.
SB756,67,22 20(2) (a) Except as otherwise provided in s. 177.1402 (1), the administrator shall
21include on the administrator's Internet site or in the database required by s.
22177.0503 the name of each apparent owner of property held by the administrator.
SB756,68,223 (b) The administrator may include on the administrator's Internet site or in the
24database additional information concerning the apparent owner's property, if the
25administrator believes that the information will assist in identifying and returning

1property to the owner and if the information does not disclose personal information,
2except the apparent owner's name and residential address.
SB756,68,53 (c) The administrator may include the information described in par. (b) in
4published notices, printed publications, telecommunications, or other media or on
5the Internet.
SB756,68,8 6(3) The administrator and the administrator's agent may not use confidential
7information provided to them or in their possession except as expressly authorized
8by this chapter or by other law.
SB756,149 9Section 149. 177.15 of the statutes is repealed.
SB756,150 10Section 150 . Subchapter XV (title) of chapter 177 [precedes 177.1501] of the
11statutes is created to read:
SB756,68,1212 CHAPTER 177
SB756,68,1313 SUBCHAPTER XV
SB756,68,1414 miscellaneous provisions
SB756,151 15Section 151. 177.1505 of the statutes is created to read:
SB756,68,17 16177.1505 Voluntary disclosure. (1) The administrator may enter into
17voluntary disclosure agreements with holders if the following conditions are met:
SB756,68,2018 (a) The holder failed to file a report required under this chapter or the holder
19filed a report under this chapter and failed to include on the report all property
20subject to reporting.
SB756,68,2221 (b) The administrator is not conducting an examination or investigation of the
22holder, as provided under s. 177.1002.
SB756,68,2423 (c) The holder has not received a notification from the administrator of an
24impending examination under s. 177.1002.
SB756,68,2525 (d) The holder has not been notified of an assessment under subch. X or XI.
SB756,69,2
1(e) The holder is not currently the subject of a civil or a criminal prosecution
2involving compliance with this chapter.
SB756,69,63 (f) The holder agrees to report and deliver any property that was abandoned
4during any year to which the agreement applies within 60 days of execution of the
5agreement. The holder must make a reasonable effort in good faith to calculate,
6report, and deliver such property.
SB756,69,87 (g) The holder agrees to perform duties described in s. 177.0501 within 30 days
8of execution of the agreement, unless the agreement provides otherwise.
SB756,69,99 (h) The holder agrees to prospective compliance with this chapter.
SB756,69,1110 (i) The holder agrees to waive appeal rights under this chapter for periods
11under the agreement.
SB756,69,12 12(2) For purposes of this section:
SB756,69,1413 (a) The filing date is the date that the holder's application for voluntary
14compliance is received by the administrator.
SB756,69,1615 (b) The agreement is executed when signed by the holder and the
16administrator.
SB756,69,1817 (c) The administrator may extend the time during which the holder is to comply
18with sub. (1) (f).
SB756,69,2119 (d) A holder who enters into an agreement with the administrator and upon
20compliance with the terms in the agreement shall be relieved of any further liability
21with respect to the property reported by the holder under the agreement.
SB756,69,2422 (e) A holder who enters into an agreement with the administrator shall
23maintain records with regard to property covered under the agreement in accordance
24with s. 177.0404.
SB756,70,2
1(f) The agreement shall apply to the 5 reporting periods immediately preceding
2the filing date of the holder's application.
SB756,70,93 (g) The administrator shall waive rights to an examination of records under s.
4177.1001 with respect to the reporting periods in par. (f), and all earlier periods,
5except for the purpose of the administrator making determinations with respect to
6sub. (3) (a) and (b). Unless an agreement is null and void as provided in sub. (3), the
7administrator shall not have any cause of action against the holder resulting from
8failure of the holder to report any property abandoned during the reporting periods
9to which par. (f) applies or to any earlier periods.
SB756,70,13 10(3) The administrator may declare an executed agreement null and void. In
11the case of an agreement that is null and void, the holder remains subject to all other
12provisions of this chapter. The administrator may declare an executed agreement
13null and void if at least one of the following applies:
SB756,70,1614 (a) Fraud or intentional misrepresentation by the holder or those acting on the
15holder's behalf with respect to the property required to be reported for the period
16covered by the agreement.
SB756,70,1917 (b) It is determined by the administrator that the property reported by the
18holder for the period covered by the agreement is less than 75 percent of the value
19of all property reportable by the holder for the period.
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