Senate Bill 647 aims to enhance penalties related to fraudulent claims for unclaimed property in Wisconsin. The bill introduces civil and criminal penalties for individuals who file claims with the Department of Revenue (DOR) for the property of another person without their consent and with the intent to deprive the owner of that property. Specifically, such individuals would face a penalty equal to the total value of the property and could be charged with a Class I felony. Additionally, if a locator service submits a claim that does not comply with existing law, they would incur a penalty based on the property's value, plus an additional fee depending on the property's worth.

The bill also mandates that the DOR post the names and addresses of locator services assessed penalties on its website, along with the penalty amounts, for a minimum of 12 months. Furthermore, it allows the DOR to waive penalties under certain conditions and authorizes the attorney general to assist in prosecuting cases arising from these new provisions. The bill amends existing statutes to reflect these changes, including the renaming of certain penalty sections and the creation of new sections specifically addressing fraudulent claims.

Statutes affected:
Bill Text: 177.1104, 177.1204(title), 177.1204, 177.1205