Matching program and agreements.
1.
(1)#
The department shall operate a financial record matching program under this subsection for the purpose of verifying the assets of applicants for and recipients of food stamp program benefits and other individuals.
(2)#
The department shall enter into agreements with financial institutions doing business in this state to operate the financial record matching program under this subsection. An agreement shall require the financial institution to participate in the financial record matching program by electing either the financial institution matching option under par. (c) or the state matching option under par. (d). Any changes to the conditions of the agreement shall be submitted by the financial institution or the department at least 60 days before the effective date of the change. The department shall furnish the financial institution with a signed copy of the agreement.
(3)#
The department shall reimburse a financial institution up to $125 per calendar quarter for participating in the financial record matching program under this subsection, except that a financial institution that is also participating in the financial record matching program under s. 49.45 (4m) is eligible for reimbursement under only the program under s. 49.45 (4m).
(4)#
To the extent feasible, the information to be exchanged under the matching program shall be provided by electronic data exchange as prescribed by the department in the agreement under subd. 2.