AB 801

Current law requires the administrator of the state's unclaimed property

program—currently the secretary of revenue—to publish in a newspaper of general

circulation in any county the names of all persons who may reside in that county and

be owners of abandoned property held by the state. This bill requires that the names

also be published on an Internet site maintained by the administrator.

The bill also requires the administrator to notify the Department of Revenue

(DOR) by July 1 of each year, along with any available social security numbers of the

persons on the list. DOR must then notify the administrator if any such person has

filed a Wisconsin income tax return in that year and must provide the administrator

with the address of the person that appears on the tax return. DOR must also notify

the administrator if any such person owes a debt to a state agency, county, or

municipality that DOR may collect under the tax refund intercept program.

Under the bill, if the value of the property that is owed to any person who is

identified by DOR is $2,000 or less, the person is not required to file a claim and the

administrator must deliver the property or pay the amount owing to the person. If

the value of the property is greater than $2,000, the administrator must send written

notice to the person, informing the person that he or she is the owner of abandoned

property held by the state and may file a claim with the administrator for return of

the property. Before paying any amount owed to the person, however, the

administrator must first pay to DOR the amount owed to the person so that DOR may

use that amount to collect any debt the person owes under the tax refund intercept

program. Any amount remaining after satisfying the debt is then paid to the person.