The following Assembly proposals, which have been approved by both the Assembly and Senate, have been enrolled by the Legislative Reference Bureau:
Assembly Bill
135
Assembly Bill
238
Assembly Bill
290
Assembly Bill
461
Assembly Bill
468
Assembly Bill
509
Assembly Bill
512
Assembly Bill
513
Assembly Bill
514
Assembly Bill
553
Assembly Bill
558
Assembly Bill
560
Assembly Bill
571
Assembly Bill
572
John A. Scocos
Assembly Chief Clerk
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Speaker's Communications
November 7, 2001
John A. Scocos
Assembly Chief Clerk
1 East Main Street, Suite 402
Dear Mr. Scocos:
On October 10, 2001,
Assembly Bill 551 relating to maximum allowable grants under the private sewage system replacement or rehabilitation grant program was referred to the Assembly Committee on Environment. Pursuant to Assembly Rule
42 (3)(c), I hereby withdraw
Assembly Bill 551 from the Assembly Committee on Environment and re-refer that bill to the Assembly Committee on Natural Resources.
Representative Kedzie has been notified of the re-referral and approves.
Sincerely,
Scott R. Jensen
Assembly Speaker
Communications
November 7, 2001
John Scocos
Assembly Chief Clerk
Inter Department
Dear Mr. Scocos:
Please withdraw me as a co-sponsor of Assembly Bill 476.
Thank you for your time.
Sincerely yours,
MaryAnn Lippert
State Representative
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November 7, 2001
John Scocos
Assembly Chief Clerk
1 E Main Street, Suite 402
Madison, WI 53708
Dear Chief Clerk Scocos:
This letter is to respectfully request that I be added as a co-sponsor to the following Assembly Bill:
Assembly Bill 622 (LRB-3785, Plale), relating to graffiti and providing a penalty.
Please advise me as to your action.
Thank you,
Jeff Stone
State Representative
82nd Assembly District
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Agency Reports
State of Wisconsin
Legislative Audit Bureau
Madison
November 6, 2001
To the Honorable, the Legislature:
We have completed an evaluation of the State of Wisconsin Investment Board, as directed by s.
25.17(51m), Wis. Stats. As of December 31, 2000, the Investment Board managed a total of $67.0 billion in investments that included assets of the Wisconsin Retirement System, the State Investment Fund, and five smaller insurance and trust funds.
The Investment Board has recently been successful in exceeding its performance benchmarks for the Fixed Retirement Trust Fund, which represented 81.8 percent of the assets under its management in 2000. However, the Fixed Retirement Trust Fund's long-term returns continue to lag those of other large public pension funds. As of June 30, 2000, its five-year returns ranked last among ten funds we surveyed.
We focused our analysis on the Investment Board's Opportunity Portfolio for the Fixed Retirement Trust Fund, which is a higher-risk portfolio that has focused on private equity investments in emerging markets in Asia and Eastern Europe. The portfolio, which has assets of approximately $1 billion, has failed to meet its performance benchmarks and is not meeting expectations of earning higher returns than the Investment Board achieves through its more traditional investments. In light of the lagging returns and controversy surrounding certain investments in South Korea, support for the portfolio among members of the Board of Trustees is divided. Another area of concern is the Board of Trustees' involvement in the Opportunity Portfolio. Of particular concern is the fact that some trustees own public stock in entities associated with the portfolio. These interests have previously not been publicly disclosed. We suggest that to avoid the appearance of conflicts of interest, the Investment Board revisit its policies to ensure trustees comply with provisions of the State Ethics Code.
We appreciate the courtesy and cooperation extended to us by the Investment Board. A response from the Board's Executive Director is Appendix 5.
Respectfully submitted,
Janice Mueller
State Auditor
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Representative Bock asked unanimous consent for a leave of absence for part of today's session for Representatives Coggs and Miller. Granted.
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Representative Foti asked unanimous consent that the Assembly stand recessed. Granted.
The Assembly stood recessed.
10:05 A.M.
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1:03 P.M.
The Assembly reconvened.
Speaker Pro Tempore Freese in the chair.
Representative Coggs asked unanimous consent that his leave of absence be lifted. Granted.
Representative Miller asked unanimous consent that his leave of absence be lifted. Granted.
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Assembly Resolution 45
Relating to: honoring members of the Wisconsin assembly who are military veterans and those who continue to serve the military while holding a public office.
A534
Representative Black asked unanimous consent that all members of the Assembly be made coauthors of
Assembly Resolution 45. Granted.
Representative Black asked unanimous consent for a quorum call. Granted.
A quorum was present.
The question was: Shall Assembly Resolution 45 be adopted?
Motion carried.
