(f) The holder agrees to report and deliver any property that was abandoned during any year to which the agreement applies within 60 days of execution of the agreement. The holder must make a reasonable effort in good faith to calculate, report, and deliver such property.
(g) The holder agrees to perform duties described in s. 177.0501 within 30 days of execution of the agreement, unless the agreement provides otherwise.
(h) The holder agrees to prospective compliance with this chapter.
(i) The holder agrees to waive appeal rights under this chapter for periods under the agreement.
(2) For purposes of this section:
(a) The filing date is the date that the holder's application for voluntary compliance is received by the administrator.
(b) The agreement is executed when signed by the holder and the administrator.
(c) The administrator may extend the time during which the holder is to comply with sub. (1) (f).
(d) A holder who enters into an agreement with the administrator and upon compliance with the terms in the agreement shall be relieved of any further liability with respect to the property reported by the holder under the agreement.
(e) A holder who enters into an agreement with the administrator shall maintain records with regard to property covered under the agreement in accordance with s. 177.0404.
(f) The agreement shall apply to the 5 reporting periods immediately preceding the filing date of the holder's application.
(g) The administrator shall waive rights to an examination of records under s. 177.1001 with respect to the reporting periods in par. (f), and all earlier periods, except for the purpose of the administrator making determinations with respect to sub. (3) (a) and (b). Unless an agreement is null and void as provided in sub. (3), the administrator shall not have any cause of action against the holder resulting from failure of the holder to report any property abandoned during the reporting periods to which par. (f) applies or to any earlier periods.
(3) The administrator may declare an executed agreement null and void. In the case of an agreement that is null and void, the holder remains subject to all other provisions of this chapter. The administrator may declare an executed agreement null and void if at least one of the following applies:
(a) Fraud or intentional misrepresentation by the holder or those acting on the holder's behalf with respect to the property required to be reported for the period covered by the agreement.
(b) It is determined by the administrator that the property reported by the holder for the period covered by the agreement is less than 75 percent of the value of all property reportable by the holder for the period.
(c) The holder fails to remain in compliance with this chapter for no less than the 4 reporting periods following the final reporting period covered by the agreement.
(4) The administrator shall waive the provisions of s. 177.1204 with respect to reporting periods covered by the agreement if an application for voluntary disclosure is received by the administrator between the first day of the 3rd month and the last day of the 15th month after the effective date of this subsection .... [LRB inserts date], and a voluntary disclosure agreement is executed within 180 days of receipt of the application by the administrator. The administrator may enter into an agreement with a holder to extend the date upon which the agreement must be executed and shall waive the provisions of s. 177.1204 with respect to reporting periods covered by an agreement executed under such extension. The administrator shall make efforts to provide information to interested parties regarding the voluntary disclosure period provided under this subsection.
87,154 Section 154. 177.16 of the statutes is repealed.
87,155 Section 155. 177.165 of the statutes is renumbered 177.0209 and amended to read:
177.0209 Proceeds from sale of property in self-service storage facility. Notwithstanding s. 177.02 (1) any other provision under this chapter, the proceeds of a sale under s. 704.90 (6) of personal property stored in a leased facility located within a self-service storage facility after satisfaction of the operator's lien under s. 704.90 (3) (a) is presumed abandoned immediately after satisfaction of the operator's lien under s. 704.90 (3) (a).
87,156 Section 156. 177.17 of the statutes is repealed.
87,157 Section 157. 177.18 of the statutes is renumbered 177.0503, and 177.0503 (title), (1), (1g), (1m), (2m) and (4), as renumbered, are amended to read:
177.0503 (title) Notice and publication of lists of abandoned or escheated property by administrator. (1) Before July 1 of each year, the administrator shall publish on an Internet site maintained by the administrator a notice of the names of persons appearing to be apparent owners of abandoned property reported and remitted to the administrator. Except as provided in sub. (1m), the notice shall include the name and last-known address of each person identified in a report filed under s. 177.17 177.0401 since the publication of the previous notice. The administrator shall also publish the in a newspaper the names of apparent owners of abandoned property reported and remitted to the administrator in the previous reporting year. The notice as shall be a class 1 notice under ch. 985, and published in a newspaper of general circulation in the county in which is located the last-known address of the person to be named in the notice. If no address is listed or the address is outside this state, the notice shall be published in the county in which the holder of the property has its principal place of business within this state official state newspaper.
(1g) In addition to any notice required under sub. (1), the administrator shall also publish, in the notice described under sub. (1), the name and last-known address of each owner of a U.S. savings bond that has been presumed abandoned under s. 177.135 177.0206 since the publication of the previous notice.
(1m) If the address of a person to be named in a notice under sub. (1) is outside this state, and if the administrator has entered into an agreement under s. 177.33 (1) 177.1202 with the state in which the address is located, the administrator may omit the information specified in sub. (2) with respect to that person from the notice published under sub. (1).
(2m) For money or other property received under s. 852.01 (3), 863.37 (2) or 863.39 (1), a notice shall be published at least annually in the official state newspaper and shall include the name of the decedent, the time and place of the decedent's death, the amount paid to the administrator, the name of the decedent's personal representative, the county in which the estate is probated and a statement that the money will be paid to the heirs or legatees without interest, on proof of ownership, if claimed within 10 years from the date of publication as provided in s. 863.39 (3).
(4) This section does not apply to sums payable on travelers checks, money orders and other written instruments presumed abandoned under s. 177.04 177.0201.
87,158 Section 158. 177.19 of the statutes is repealed.
87,159 Section 159. 177.20 of the statutes is repealed.