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Bills · 2021-2022 Regular Session

AB 325

Became law Official bill text Atom feed

Relating to: the Revised Uniform Unclaimed Property Act. (FE)

Personal property Revenue department of Uniform legislation

  1. Introduced, completed
  2. Passes Assembly, completed
  3. Passes Senate, completed
  4. Governor signs, completed
  5. Law, completed

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

This bill adopts the Revised Uniform Unclaimed Property Act (the act), as

approved by the Uniform Law Commission, also known as the National Conference

of Commissioners on Uniform State Laws. The act under current law is based on

earlier versions of the act that were last updated in 1995. The act requires a holder

of unclaimed property to submit that property to the state after a certain time has

passed, a period referred to as a dormancy period. The state then attempts to return

the property to its rightful owner. Generally, if the state is unable to return the

property to its owner, the state may retain the property. Under current law, a holder

of unclaimed property submits the property to the secretary of revenue who is the

administrator of the act. The bill designates the Department of Revenue as the

administrator and makes various changes to the act in order to make the act easier

to administer. For example, the bill updates the act to address the disposition of

unclaimed gift cards, life insurance benefits, securities, and virtual currencies. The

bill also organizes the act chapter into subchapters in order to facilitate the act's

administration.

What it would cost

Fiscal estimates filed by state agencies, as official PDFs

Sponsors

Introduced by: August (R)

3 cosponsors

McGuire (D) , Petrowski (R) , Smith (D)

Votes

Assembly: Report passage recommended by Committee on State Affairs, Ayes 11, Noes 0

Passed 11–0 Jun 16, 2021 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Senate: Report adoption of Senate Amendment 1 recommended by Committee on Financial Institutions and Revenue, Ayes 5, Noes 0

Passed 5–0 Oct 20, 2021 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Senate: Report adoption of Senate Amendment 2 recommended by Committee on Financial Institutions and Revenue, Ayes 5, Noes 0

Passed 5–0 Oct 20, 2021 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Senate: Report concurrence as amended recommended by Committee on Financial Institutions and Revenue, Ayes 5, Noes 0

Passed 5–0 Oct 20, 2021 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Senate: Referred to joint committee on Finance by Committee on Senate Organization pursuant to Senate Rule 41 (1)(e), Ayes 5, Noes 0

Passed 5–0 Oct 22, 2021 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Senate: Withdrawn from joint committee on Finance and made Available for Scheduling by committee on Senate Organization, pursuant to Senate Rule 41 (1)(e), Ayes 5, Noes 0

Passed 5–0 Oct 22, 2021 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Full history

  1. May 13, 2021 · Assembly

    Introduced by Representative August; cosponsored by Senator Petrowski

  2. May 13, 2021 · Assembly

    Read first time and referred to Committee on State Affairs

  3. May 21, 2021 · Assembly

    Fiscal estimate received

  4. Jun 7, 2021 · Assembly

    Representative McGuire added as a coauthor

  5. Jun 8, 2021 · Assembly

    Senator Smith added as a cosponsor

  6. Jun 8, 2021 · Assembly

    Public hearing held

  7. Jun 10, 2021 · Assembly

    Executive action taken

  8. Jun 16, 2021 · Assembly

    Report passage recommended by Committee on State Affairs, Ayes 11, Noes 0

  9. Jun 16, 2021 · Assembly

    Referred to committee on Rules

  10. Jun 16, 2021 · Assembly

    Placed on calendar 6-22-2021 by Committee on Rules

  11. Jun 17, 2021 · Assembly

    Assembly Amendment 1 offered by Representative August

  12. Jun 22, 2021 · Assembly

    Read a second time

  13. Jun 22, 2021 · Assembly

    Assembly Amendment 1 adopted

  14. Jun 22, 2021 · Assembly

    Ordered to a third reading

  15. Jun 22, 2021 · Assembly

    Rules suspended

  16. Jun 22, 2021 · Assembly

    Read a third time and passed

  17. Jun 22, 2021 · Assembly

    Ordered immediately messaged

  18. Jun 22, 2021 · Senate

    Received from Assembly

  19. Jun 24, 2021 · Senate

    Read first time and referred to committee on Financial Institutions and Revenue

  20. Oct 1, 2021 · Senate

    Senate Amendment 1 offered by Senator Petrowski

  21. Oct 14, 2021 · Senate

    Senate Amendment 2 offered by Senator Petrowski

  22. Oct 14, 2021 · Senate

    Public hearing held

  23. Oct 19, 2021 · Senate

    Executive action taken

  24. Oct 20, 2021 · Senate

    Report adoption of Senate Amendment 1 recommended by Committee on Financial Institutions and Revenue, Ayes 5, Noes 0

  25. Oct 20, 2021 · Senate

    Report adoption of Senate Amendment 2 recommended by Committee on Financial Institutions and Revenue, Ayes 5, Noes 0

  26. Oct 20, 2021 · Senate

    Report concurrence as amended recommended by Committee on Financial Institutions and Revenue, Ayes 5, Noes 0

  27. Oct 20, 2021 · Senate

    Available for scheduling

  28. Oct 22, 2021 · Senate

    Referred to joint committee on Finance by Committee on Senate Organization pursuant to Senate Rule 41 (1)(e), Ayes 5, Noes 0

  29. Oct 22, 2021 · Senate

    Withdrawn from joint committee on Finance and made Available for Scheduling by committee on Senate Organization, pursuant to Senate Rule 41 (1)(e), Ayes 5, Noes 0

  30. Oct 22, 2021 · Senate

    Placed on calendar 10-25-2021 pursuant to Senate Rule 18(1)

  31. Oct 25, 2021 · Senate

    Read a second time

  32. Oct 25, 2021 · Senate

    Senate Amendment 1 adopted

  33. Oct 25, 2021 · Senate

    Senate Amendment 2 withdrawn and returned to author

  34. Oct 25, 2021 · Senate

    Ordered to a third reading

  35. Oct 25, 2021 · Senate

    Rules suspended

  36. Oct 25, 2021 · Senate

    Read a third time and concurred in as amended

  37. Oct 25, 2021 · Senate

    Ordered immediately messaged

  38. Oct 25, 2021 · Assembly

    Received from Senate amended and concurred in as amended (Senate amendment 1 adopted)

  39. Oct 27, 2021 · Assembly

    Senate Amendment 1 concurred in

  40. Oct 27, 2021 · Assembly

    Action ordered immediately messaged

  41. Nov 2, 2021 · Assembly

    LRB correction

  42. Nov 2, 2021 · Assembly

    Report correctly enrolled on 11-2-2021

  43. Nov 2, 2021 · Assembly

    Presented to the Governor on 11-2-2021

  44. Nov 8, 2021 · Assembly

    Report approved by the Governor on 11-5-2021. 2021 Wisconsin Act 87

  45. Nov 8, 2021 · Assembly

    Published 11-6-2021