Wednesday, November 7, 2001
Ninety-Fifth Regular Session
The Chief Clerk makes the following entries under the above date.
__________________
Read and referred:
Senate Resolution 10
Relating to: urging Congress to enact the Steel Revitalization Act of 2001.
By
Senator
Burke
.
To committee on Economic Development and Corrections.
__________________
Read first time and referred:
Senate Bill 311
Relating to: limiting the uses of tax incremental financing.
By
Senator
Burke
; cosponsored by Representative Musser
.
To committee on Universities, Housing, and Government Operations.
Senate Bill 312
Relating to: advertising by intoxicating liquor retailers.
By
Senators
Plache, Wirch, Hansen, Darling, Welch and Cowles; cosponsored by Representatives Gard, Bies, Krawczyk, Gronemus, Ainsworth, Albers, Gunderson, Jeskewitz, Ladwig, Leibham, Pettis, Seratti, Sykora, Montgomery, Shilling, Musser, Gundrum, Starzyk and Lassa.
To committee on Insurance, Tourism, and Transportation.
Senate Bill 313
Relating to: graffiti and providing a penalty.
By
Senators
Grobschmidt, Burke, Darling and Schultz; cosponsored by Representatives Plale, Krusick, Staskunas, Walker, Sinicki, Richards, Carpenter, Suder, La Fave, Jeskewitz, Ryba, Lassa, Leibham, Shilling, F. Lasee, Ott and Stone.
To committee on Judiciary, Consumer Affairs, and Campaign Finance Reform.
Senate Bill 314
Relating to: the salaries of technical college instructors.
By
Senators
George, Risser, Hansen, Burke and Wirch; cosponsored by Representatives Pocan, Musser, Gronemus, Sykora, Miller, Black, Young, Coggs, Colon, Sinicki and Berceau.
To committee on Education.
Senate Bill 315
Relating to: deductions to labor and professional organizations from annuity payments under the Wisconsin retirement system.
By
Senators
Risser, Burke, Hansen and Schultz; cosponsored by Representatives Freese, Pocan, Turner, Black, J. Lehman, Boyle, Miller, Gronemus, Hahn, Sykora and Musser.
To joint survey committee on Retirement Systems.
__________________
The committee on Human Services and Aging reports and recommends:
Berg
, Crystal,
of Hartford, as a member of the Examining Board of Social Workers, Marriage and Family Therapists and Professional Counselors, to serve for the interim term ending May 1, 2004.
Confirmation.
Ayes, 7 - Senators
Robson, Moore, Wirch, Hansen, Roessler, Welch and Kanavas.
Noes, 0 - None.
Carlin
, Marte J.,
of Green Bay, as a member of the Council on Domestic Abuse, to serve for the interim term ending July 1, 2003.
Confirmation.
Ayes, 7 - Senators
Robson, Moore, Wirch, Hansen, Roessler, Welch and Kanavas.
Noes, 0 - None.
Connolly-Keesler, Eileen,
of Neenah, as a member of the Council on Domestic Abuse, to serve for the term ending July 1, 2004.
Confirmation.
Ayes, 7 - Senators
Robson, Moore, Wirch, Hansen, Roessler, Welch and Kanavas.
Noes, 0 - None.
Kaufert, Representative Dean,
of Neenah, as a member of the Council on Domestic Abuse, to serve for the term ending July 1, 2004.
Confirmation.
Ayes, 7 - Senators
Robson, Moore, Wirch, Hansen, Roessler, Welch and Kanavas.
Noes, 0 - None.
Judith Robson
Chairperson
State of Wisconsin
Legislative Audit Bureau
November 6, 2001
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 that 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.
Sincerely,
Janice Mueller
State Auditor
State of Wisconsin
Department of Revenue
November 1, 2001
The Honorable, The Legislature:
I am submitting the quarterly report of the Wisconsin Lottery for the quarter ending June 30, 2001. As required by s.
565.37(3), Wis. Stats., the attached materials contain unaudited Wisconsin Lottery year to date Sales and Expenditure information.
The summary information reported here is not intended to be a complete financial accounting of the Wisconsin Lottery Fund.
If you have any questions or comments regarding this report, please feel free to contact me at (608) 266-6466.
Sincerely,
Richard G. Chandler
Secretary of Revenue
__________________
Relating to hazardous air pollutant emissions from pulp and paper mills.
Submitted by Department of Natural Resources.
Report received from Agency, November 6, 2001.
Referred to committee on Environmental Resources, November 7, 2001.
