Wednesday, December 11, 1996
The Chief Clerk makes the following entries under the above date.
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State of Wisconsin
Reinstatement Assistance Program Steering Committee
November 27, 1996
The Honorable, The Legislature:
Attached is the statutorily mandated evaluation of the Reinstatement Assistance Pilot Program. Act 27 (Biennial Budget Bill 1993-1995) requires that the State Public Defender's Office and the Department of Transportation jointly oversee and evaluate this driver license reinstatement assistance training program, and submit a report to the Legislature prior to January 1, 1997.
Questions regarding this report may be directed to any of the Steering Committee members listed below.
Sincerely,
Sally Pedersen
State Public Defender's Office
Sharon Caulum
State Public Defender's Office
George Esser
Department of Transportation
Christine Smith
Department of Transportation
State of Wisconsin
Investment Board
November 22, 1996
The Honorable, The Legislature:
Section
25.17(14r) of the Statutes, as created by
1995 Wisconsin Act 274, requires that the State of Wisconsin Investment Board (SWIB) submit a report to the Joint Committee on Audit, Joint Committee on Finance, and Chief Clerks of each House summarizing any change in the Board's investment policies, upon adoption of the change.
On November 7, 1996, the Board of Trustees approved a change to the investment guidelines for the Special Opportunities Portfolio (SOP). The change provides additional investment authority which is highlighted by the shaded material in the attached copy of the guidelines.
The SOP currently manages $747 million for Fixed Trust Fund of the Wisconsin Retirement System (approximately 2% of Fixed Fund assets). This portfolio has the authority to invest across asset classes in either domestic or international markets. Investments may be made in public and private equities and fixed income investments, partnerships, other funds and a variety of structured investments.
The change approved by the Trustees gives the SOP delegated authority to purchase a limited amount of privately placed securities under the Securities and Exchange Commission's (SEC) Rule 144A. This rule allows resale of unregistered and otherwise restricted debt and equity securities between qualified institutional buyers (generally with assets greater than $100 million). This rule was established by the SEC to give institutional investors greater latitude in investing than the general public. It offers a measure of liquidity beyond most other private placement securities. As a result, a market for these securities is developing among large investors like SWIB.
The change approved by the Trustee gives the SOP delegated authority to take advantage of the opportunities in the markets. It brings the SOP in line with other portfolios at SWIB which already had certain authority pertaining to Rule 144A. The amount of 144A securities purchased by the SOP could not exceed 25% of the portfolio value without approval of the Trustees. This change in authority was reviewed and recommended by the staff Risk Management Committee prior to consideration and approval by the Board.
Please feel free to contact me if you have any questions about this item.
Sincerely,
patricia Lipton
Executive Director
State of Wisconsin
State Emergency Response Board
December 2, 1996
The Honorable, The Legislature:
1995 Wisconsin Act 13 which was enacted on May 16, 1995 contained a nonstatutory provision directing that the State Emergency Response Board (SERB) submit a report to the legislature on the impact that this act has on local units of government, local emergency response committees and emergency response teams. A draft of this report was reviewed and approved by the SERB at their November 14, 1996 meeting.
In an effort to obtain direct input on the effect of the act, a survey addressing the various aspects of the act was developed and forwarded to County Emergency Government Directors, Local Emergency Planning Committee Chairs, designated County Level B response teams and designated Regional Level A response teams. The attached report summarizes the survey responses received and makes a recommendation on behalf of the Board with regard to the two provisions in the Act which are scheduled to sunset.
S927
While a summary chart, containing a synopsis of the comments made on the survey, was developed, it was not made a part of the formal report in an effort to hold down copying costs. However, the comments that are included in the report were taken from the summary chart. A copy of the summary chart has been provided to the respective clerks for information purposes. If anyone wishes to review the complete file of survey responses received, this file is available by contacting Christine Bacon, Director, Bureau of Technological Hazards, Wisconsin Division of Emergency Management. If you have questions regarding the report of the survey please feel free to contact me or Ms. Bacon at 242-3232.
Sincerely,
steven d. sell
Chair
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State of Wisconsin
Revisor of Statutes Bureau
December 1,1996
To the Honorable, the Senate:
The following rules have been published:
Omitted from prior report:
Sincerely,
GARY L. POULSON
Deputy Revisor
Relating to waiver of the slow-no-wake speed restriction on Moody lake, Oconto county.
Submitted by Department of Natural Resources.
Withdrawn by Agency, December 10, 1996.
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The committee on Economic Development, Housing, Government Operations and Cultural Affairs reports and recommends:
