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AB325,11 9Section 11. 177.01 (1) of the statutes is amended to read:
AB325,7,1010 177.01 (1) “Administrator" means the secretary department of revenue.
AB325,12 11Section 12. 177.01 (1d) of the statutes is created to read:
AB325,7,1512 177.01 (1d) “Administrator's agent” means a person that the administrator
13contracts with to conduct an examination under subch. X on the administrator's
14behalf, including an independent contractor of such person and each individual
15participating in the examination on behalf of the person or contractor.
AB325,13 16Section 13. 177.01 (2) of the statutes is amended to read:
AB325,7,1917 177.01 (2) “Apparent owner" means the a person whose name appears on the
18records of the holder as the person entitled to owner of property held, issued, or owing
19by the holder.
AB325,14 20Section 14. 177.01 (3) and (4) of the statutes are repealed.
AB325,15 21Section 15. 177.01 (5) of the statutes is amended to read:
AB325,8,522 177.01 (5) “Business association" means a nonpublic corporation,; joint stock
23company,; investment company, not including an investment company registered
24under the Investment Company Act of 1940, as amended, 15 USC sections 80a-1 to
2580a-64;
business trust,; partnership,; unincorporated association; joint venture;

1limited liability company or association for business purposes,; trust company; land
2bank; safe deposit company; safekeeping depository; financial organization;
3insurance company; federally chartered entity; utility; sole proprietorship; or other
4business entity; regardless of
whether or not any such entity is for profit, including
5a banking organization, financial organization, insurance company or utility
.
AB325,16 6Section 16. 177.01 (5d) of the statutes is created to read:
AB325,8,87 177.01 (5d) “Confidential information” means records, reports, and
8information that are confidential under s. 177.1402.
AB325,17 9Section 17. 177.01 (6) of the statutes is renumbered 177.01 (6) (intro.) and
10amended to read:
AB325,8,1311 177.01 (6) (intro.) “Domicile" means the state of incorporation of a corporation,
12the state of organization of a limited liability company and the state of the principal
13place of business of an unincorporated person.
the following:
AB325,18 14Section 18. 177.01 (6) (a) to (d) of the statutes are created to read:
AB325,8,1515 177.01 (6) (a) For a corporation, the state of its incorporation.
AB325,8,1716 (b) For a business association, other than a corporation, that requires a filing
17with a state for its formation, the state of its filing.
AB325,8,2018 (c) For a federally chartered entity or an investment company registered under
19the Investment Company Act of 1940, as amended, 15 USC sections 80a-1 to 80a-64,
20the state of its home office.
AB325,8,2121 (d) For any other holder, the state of its principal place of business.
AB325,19 22Section 19. 177.01 (6d) of the statutes is created to read:
AB325,8,2523 177.01 (6d) “Dormancy period” means the period of time, as specified for each
24property type in this chapter, that must pass before the property is presumed
25abandoned.
AB325,20
1Section 20. 177.01 (6f) of the statutes is created to read:
AB325,9,32 177.01 (6f) “Electronic” means relating to technology having electrical, digital,
3magnetic, wireless, optical, electromagnetic, or similar capabilities.
AB325,21 4Section 21. 177.01 (6g) of the statutes is created to read:
AB325,9,65 177.01 (6g) “E-mail” means a communication by electronic means which is
6automatically retained and stored and may be readily accessed or retrieved.
AB325,22 7Section 22. 177.01 (7) of the statutes is amended to read:
AB325,9,128 177.01 (7) “Financial organization" means a savings and loan association,
9savings bank, cooperative bank, building and loan association or, credit union,
10industrial bank, bank, banking organization, trust company, land bank, safe deposit
11company, private banker, or any other organization defined by other law as a bank,
12banking organization, or financial institution
.
AB325,23 13Section 23. 177.01 (7b) of the statutes is created to read:
AB325,9,2314 177.01 (7b) “Game-related digital content” means digital content that exists
15only in an electronic game or electronic-game platform. “Game-related digital
16content” includes game play currency, such as a virtual wallet, even if denominated
17in U.S. currency and points sometimes referred to as gems, tokens, gold, and similar
18names, and digital codes, if for use or redemption only within the game or platform
19or another electronic game or electronic game platform. “Game-related digital
20content” does not include an item that the issuer permits to be redeemed for use
21outside of a game or platform and for money or goods and services that have more
22than minimal value or that the issuer otherwise monetizes for use outside of a game
23or platform.
AB325,24 24Section 24. 177.01 (7d) of the statutes is created to read:
AB325,10,4
1177.01 (7d) (a) “Gift card” means a record evidencing a promise for
2consideration by the seller or issuer of the record that merchandise, goods, or services
3will be provided to the owner of the record equal to the value or amount shown in the
4record, if all of the following apply:
AB325,10,55 1. The value or amount does not expire.
AB325,10,76 2. The value or amount may be decreased only by redemption for merchandise,
7goods, or services.
AB325,10,98 3. The value or amount may not be redeemed for or converted into money or
9otherwise monetized by the issuer.
AB325,10,1010 (b) “Gift card” includes the following:
AB325,10,1411 1. A record that contains or consists of a microprocessor chip, magnetic strip,
12or other means for the storage of information, that is prefunded and the value or
13amount of which is decreased on each use and increased by payment of additional
14consideration.
AB325,10,16152. A prepaid commercial mobile radio service, as defined in 47 CFR 20.3, as
16amended.
AB325,10,1717 (c) “Gift card” does not include the following:
AB325,10,1818 1. A stored-value card.
AB325,10,1919 2. A loyalty card.
AB325,10,2020 3. A payroll card.
AB325,10,2121 4. Game-related digital content.
AB325,25 22Section 25. 177.01 (8) (intro.) of the statutes is renumbered 177.01 (8) and
23amended to read:
AB325,11,3
1177.01 (8) “Holder" means a person , wherever organized or domiciled, who is
2any of the following:
obligated to hold property subject to this chapter for the account
3of, or to deliver or pay to, the owner.
AB325,26 4Section 26. 177.01 (8) (a) to (c) of the statutes are repealed.
AB325,27 5Section 27. 177.01 (9) of the statutes is amended to read:
AB325,11,126 177.01 (9) “Insurance company" means an association, corporation, or
7fraternal or mutual benefit organization, whether or not for profit, which is engaged
8in the business of providing life endowments, annuities, or insurance coverage,
9including, but not limited to, accident, burial, casualty, credit life, contract
10performance, dental, disability, fidelity, fire, health, hospitalization, illness, life
11including endowments and annuities, malpractice, marine, mortgage, surety and,
12wage protection, and worker compensation insurance.
AB325,28 13Section 28. 177.01 (10) and (11) of the statutes are repealed.
AB325,29 14Section 29. 177.01 (11d) of the statutes is created to read:
AB325,11,1915 177.01 (11d) “Loyalty card” means a record given without direct monetary
16consideration under an award, reward, benefit, loyalty, incentive, rebate, or
17promotional program and that may be used or redeemed only to obtain goods or
18services or a discount on goods or services. “Loyalty card” does not include a record
19that may be redeemed for money or otherwise monetized by the issuer.
AB325,30 20Section 30. 177.01 (11f) of the statutes is created to read:
AB325,11,2521 177.01 (11f) “Mineral" means gas, oil, coal, oil shale, other gaseous liquid or
22solid hydrocarbon, cement material, sand and gravel, road material, building stone,
23chemical raw material, gemstone, fissionable and nonfissionable ores, colloidal and
24other clay, steam and other geothermal resources, and any other substance defined
25as a mineral by law of this state other than this chapter.
AB325,31
1Section 31. 177.01 (11g) of the statutes is created to read:
AB325,12,52 177.01 (11g) “Mineral proceeds” means an amount payable for extraction,
3production, or sale of minerals, or, on the abandonment of the amount, an amount
4that becomes payable after abandonment. “Mineral proceeds" includes an amount
5payable:
AB325,12,76 (a) For the acquisition and retention of a mineral lease, including a bonus,
7royalty, compensatory royalty, shut-in royalty, minimum royalty, or delay rental.
AB325,12,98 (b) For the extraction, production, or sale of minerals, including a net revenue
9interest, royalty, overriding royalty, extraction payment, and production payment.
AB325,12,1110 (c) Under an agreement or option, including a joint-operating agreement, unit
11agreement, pooling agreement, and farm-out agreement.
AB325,32 12Section 32. 177.01 (11j) of the statutes is created to read:
AB325,12,1513 177.01 (11j) “Money order” means a payment order for a specified amount of
14money. “Money order" includes an express money order and a personal money order
15on which the remitter is the purchaser.
AB325,33 16Section 33. 177.01 (11m) of the statutes is created to read:
AB325,12,1817 177.01 (11m) “Municipal bond” means a bond or evidence of indebtedness
18issued by a municipality or other political subdivision of a state.
AB325,34 19Section 34. 177.01 (12) of the statutes is renumbered 177.01 (12) (intro.) and
20amended to read:
AB325,12,2321 177.01 (12) (intro.) “Owner" means a person having a legal, beneficial, or
22equitable interest in property subject to this chapter or the person's legal
23representative acting on the person's behalf. “Owner” includes the following:
AB325,12,24 24(a) A depositor in the case of , for a deposit, a .
AB325,12,25 25(b) A beneficiary in the case of , for a trust other than a deposit in trust, a .
AB325,13,3
1(c) A creditor, claimant, or payee in the case of, for other intangible property,
2or a person having a legal or equitable interest in property subject to this chapter or
3his or her legal representative
.
AB325,35 4Section 35. 177.01 (12) (d) of the statutes is created to read:
AB325,13,65 177.01 (12) (d) The lawful bearer of a record that may be used to obtain money,
6a reward, or a thing of value.
AB325,36 7Section 36. 177.01 (12d) of the statutes is created to read:
AB325,13,98 177.01 (12d) “Payroll card” means a record that evidences a payroll-card
9account as defined in Regulation E, 12 CFR Part 1005, as amended.
AB325,37 10Section 37. 177.01 (13) of the statutes is amended to read:
AB325,13,1411 177.01 (13) “Person" means an individual, business association, state or other
12government, governmental subdivision, instrumentality, or agency, public
13corporation, public authority, estate, trust, 2 or more persons having a joint or
14common interest,
or any other legal or commercial entity.
AB325,38 15Section 38. 177.01 (13b) of the statutes is created to read:
AB325,13,1916 177.01 (13b) (a) “Property” means tangible property described in s. 177.0205
17or a fixed and certain interest in intangible property held, issued, or owed in the
18course of a holder's business or by a government, governmental subdivision, agency,
19or instrumentality.
AB325,13,2020 (b) “Property” includes all of the following:
AB325,13,2121 1. All income from or increments to the property.
AB325,13,2222 2. Property referred to as or evidenced by:
AB325,13,2323 a. Money, virtual currency, or interest.
AB325,13,2424 b. A dividend, check, draft, deposit, or payroll card.
AB325,14,3
1c. A credit balance, customer overpayment, security deposit, refund, credit
2memorandum, unpaid wage, unused ticket for which the issuer has an obligation to
3provide a refund, mineral proceeds, or unidentified remittance.
AB325,14,74 d. A security, except for a worthless security or a security that is subject to a
5lien, legal hold, or restriction evidenced on the records of the holder or imposed by
6operation of law, if the lien, legal hold, or restriction restricts the holder's or owner's
7ability to receive, transfer, sell, or otherwise negotiate the security.
AB325,14,88 e. A bond, debenture, note, or other evidence of indebtedness.
AB325,14,99 f. Money deposited to redeem a security, make a distribution, or pay a dividend.
AB325,14,1010 g. An amount due and payable under an annuity contract or insurance policy.
AB325,14,1411 h. An amount distributable from a trust or custodial fund established under a
12plan to provide health, welfare, pension, vacation, severance, retirement, death,
13stock purchase, profit-sharing, employee-savings, supplemental-unemployment
14insurance, or a similar benefit.
AB325,14,1515 (c) “Property” does not include the following:
AB325,14,17161. Property held in a plan described in section 529A of the Internal Revenue
17Code.
AB325,14,1818 2. Game-related digital content.
AB325,14,1919 3. A loyalty card.
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