AB325,128 20Section 128 . Subchapter XI (title) of chapter 177 [precedes 177.1101] of the
21statutes is created to read:

1177.1101 Default assessment. When any person fails, neglects, or refuses
2to file a report by the deadline prescribed by this chapter, the administrator may,
3notwithstanding ss. 177.1001 and 177.1002, petition a court to determine the
4liability of such holder based on the court's findings as to a reasonable estimate of
5the amount due.

AB325,60,12 7177.1102 Notice of assessment. The administrator shall notify a person in
8writing of any assessment under this chapter. The administrator shall serve that
9notice as provided in s. 73.03 (73m). If the person is a corporation and the
10administrator is unable to serve that corporation as provided in s. 73.03 (73m), the
11administrator may serve the notice by publishing a class 3 notice under ch. 985 in
12the official state newspaper.

AB325,60,18 14177.1103 Appeal of assessment. The appeal provisions under ss. 71.88 (1)
15(a) and (2) (a), 71.89, 71.90, 73.01 (1), (2), (3), (4), and (4m), and 73.015, as they apply
16to a taxpayer and the department of revenue and consistent with this chapter, shall
17apply to the person or holder and the administrator with respect to an assessment
18under this chapter.

AB325,60,21 20177.1104 Penalties. The provisions of s. 177.1204 shall apply to an amount
21due as determined and assessed under this chapter.

AB325,133 22Section 133. 177.12 of the statutes is renumbered 177.0213, and 177.0213 (1),
23as renumbered, is amended to read:

AB325,61,524 177.0213 (1) Intangible property Property and any income or increment
25derived from it held in a fiduciary capacity for the benefit of another person is

1presumed abandoned unless the owner, within 5 years after it has become payable
2or distributable, has increased or decreased the principal, accepted payment of
3principal or income, communicated concerning the property or otherwise indicated
4an interest as evidenced by a memorandum or other record on file prepared by the
5fiduciary provided in s. 177.0210.

AB325,134 6Section 134 . Subchapter XII (title) of chapter 177 [precedes 177.1201] of the
7statutes is created to read:

AB325,61,16 12177.1201 Enforcement. (1) An assessment under this chapter that becomes
13final and is not subject to administrative or judicial review is subject to action and
14collection by the administrator under ss. 71.91, 71.92, and 73.03 (9), (20), (27), (28),
15(33m), and (33p) consistent with action taken by the department of revenue with
16respect to delinquent taxes under the same provisions.

AB325,61,19 17(2) If no court in this state has jurisdiction over the assessed holder or the
18assessed holder is not subject to the jurisdiction of this state, the attorney general
19may commence an action in any court having jurisdiction over the assessed holder.

AB325,61,21 20(3) Subject to sub. (2), the attorney general may bring an action in circuit court
21or in federal court to enforce this chapter.

AB325,61,24 23177.1202 Interstate and international agreement; cooperation. (1)
24Subject to sub. (2), the administrator may do all of the following:

AB325,62,3

1(a) Exchange information with another state or foreign country relating to
2property presumed abandoned or relating to the possible existence of property
3presumed abandoned.

AB325,62,74 (b) Authorize another state or foreign country or a person acting on behalf of
5the other state or country to examine its records of a putative holder as provided in
6subch. X. The administrator shall make the authorization under this paragraph in
7a record.

AB325,62,11 8(2) An exchange or examination under sub. (1) may be done only if the state
9or foreign country has confidentiality and security requirements substantially
10equivalent to those in subch. XIV or agrees in a record to be bound by this state's
11confidentiality and security requirements.