19.56 (3) (e), (em) or (f) or if the donor is the donee’s parent, grandparent, child, grandchild, brother, sister, parent-in-law, grandparent-in-law, brother-in-law, sister-in-law, uncle, aunt, niece, nephew, spouse, fiance or fiancee. (h) Lodging, transportation, money or other things of pecuniary value reportable under s. 19.56 (2). (2) Whenever a dollar amount is required to be reported pursuant to this section, it is sufficient to report whether the amount is not more than $50,000, or more than $50,000. (3) (a) An individual is the owner of a trust and the trust’s assets and obligations if he or she is the creator of the trust and has the power to revoke the trust without obtaining the consent of all of the beneficiaries of the trust. (b) An individual who is eligible to receive income or other beneficial use of the principal of a trust is the owner of a proportional share of the principal in the proportion that the individual’s beneficial interest in the trust bears to the total beneficial interests vested in all beneficiaries of the trust. A vested beneficial interest in a trust includes a vested reverter interest. (4) Information which is required by this section shall be provided on the basis of the best knowledge, information and belief of the individual filing the statement. History: 1973 c. 90; Stats. 1973 s. 11.04; 1973 c. 334 ss. 33, 57, 58; Stats. 1973 s. 19.44; 1977 c. 277; 1979 c. 110 s. 60 (4), (11); 1983 a. 61; 1983 a. 166 ss. 6, 16;
19.45
1983 a. 538; 1989 a. 303, 338; 1991 a. 39; 1993 a. 112, 490; 1995 a. 27; 2011 a. 32; 2015 a. 118 s. 266 (10). Cross-reference: See also ch. ETH 15, Wis. adm. code. Law Revision Committee Note, 1983: Under the ethics code, each state public official and candidate for state public office must file a statement of economic interests with the ethics board listing the businesses, organizations and other legal entities from which they and their families received substantial income during the preceding taxable year. However, the ethics code does not require identification of individual persons from whom the income is received. This bill provides that if the individual filing the statement of economic interests identifies the general nature of the business in which the individual or a member of his or her family is engaged, then no identification need be made of the estate of any deceased individual from which income was received. This bill makes it unnecessary to identify a decedent’s estate which was indebted to a state public official or candidate for state public office, and makes it unnecessary to identify decedents’ estates which are represented by lawyerpublic officials. A beneficiary of a future interest in a trust must identify the securities held by the trust if the individual’s interest in the securities is valued at $5,000 or more. 80 Atty. Gen. 183.