Office of the Governor
August 26, 2008
The Honorable, The Senate:
I am pleased to nominate and with the advice and consent of the Senate, do appoint Lang
, Robert,
of Cable, as a member of the Snowmobile Recreation Council, to serve for the term ending July 1, 2011.
Respectfully Submitted,
JIM DOYLE
Governor
Read and referred to committee on Transportation and Tourism.
__________________
Relating to certification of programs for training and testing nurse assistants, home health aides, and hospice aides.
Submitted by Department of Health and Family Services.
S880
Report received from Agency, August 25, 2008.
Referred to committee on Health, Human Services, Insurance, and Job Creation, August 26, 2008
.
Relating to multiple trip overweight permits for vehicles transporting granular roofing materials.
Submitted by Department of Transportation.
Report received from Agency, August 26, 2008.
Referred to committee on Transportation and Tourism, August 26, 2008
.
Relating to electrical construction.
Submitted by Department of Commerce.
Report received from Agency, August 22, 2008.
Referred to committee on Commerce, Utilities and Rail, August 26, 2008
.
Relating to the design, installation or construction, inspection and maintenance of plumbing.
Submitted by Department of Commerce.
Report received from Agency, August 22, 2008.
Referred to committee on Commerce, Utilities and Rail, August 26, 2008
.
Relating to increasing Wisconsin's minimum wages and affecting small businesses.
Submitted by Department of Workforce Development .
Report received from Agency, August 22, 2008.
Referred to committee on Labor, Elections and Urban Affairs, August 26, 2008
.
Relating to the occupational licensing program.
Submitted by Department of Transportation.
Report received from Agency, August 22, 2008.
Referred to committee on Transportation and Tourism, August 26, 2008
.
__________________
The committee on Transportation and Tourism reports and recommends:
Relating to internet and telephone call-in fees.
No action taken.
Jeffrey Plale
Chairperson
__________________
The Chief Clerk makes the following entries dated Wednesday, August 27, 2008.
State of Wisconsin
Office of the Governor
August 27, 2008
The Honorable, The Senate:
I am pleased to nominate and with the advice and consent of the Senate, do appoint Landes, Samuel,
of Dane, as a member of the Snowmobile Recreation Council, to serve for the term ending July 1, 2011.
Respectfully Submitted,
JIM DOYLE
Governor
Read and referred to committee on Transportation and Tourism.
State of Wisconsin
Office of the Governor
August 27, 2008
The Honorable, The Senate:
I am pleased to nominate and with the advice and consent of the Senate, do appoint Malecki, Andrew,
of Green Bay, as a member of the Snowmobile Recreation Council, to serve for the term ending July 1, 2011.
Respectfully Submitted,
JIM DOYLE
Governor
Read and referred to committee on Transportation and Tourism.
State of Wisconsin
Office of the Governor
August 27, 2008
The Honorable, The Senate:
I am pleased to nominate and with the advice and consent of the Senate, do appoint Thornton, Thomas,
of Grand View, as a member of the Snowmobile Recreation Council, to serve for the term ending July 1, 2011.
Respectfully Submitted,
JIM DOYLE
Governor
Read and referred to committee on Transportation and Tourism.
__________________
State of Wisconsin
Investment Board
July 17, 2008
The Honorable, The Legislature:
Pursuant to 25.17 (14r), Stats., I want to advise you of revisions to SWIB's “Investment Policies, Objectives and Guidelines" approved by the Board of Trustees during the first six months of 2008. These guidelines apply to SWIB's internal investment managers. I am sending you electronic copies of the revised guidelines plus a red-lined copy that shows the language added or deleted. In summary, these changes:
1. Narrowed authorized investments in which the State Investment Fund (SIF) may invest. Although it does not hold such investments, SIF was authorized to invest in Canadian government bills and notes, some derivatives and certain asset backed and mortgage backed securities. With the primary objective of the SIF being safety of principal, SWIB staff did not believe these instruments were appropriate in the current market environment. Staff requested, and the Board approved, a narrowing of the guidelines investments considered most appropriate for the SIF.
S881
2. Added guidelines and soft parameters for the newly created US Russell 1000 passive index portfolio, which is managed internally. After receiving increased budget and position authority, SWIB created this portfolio as one of several initiatives to reduce investment costs. Funds are being moved from external managers and will be managed with internal staff. Currently, this portfolio is managing approximately $1 billion, but plans are to move more assets in-house until the portfolio reaches nearly $12 billion.
3. Amended guidelines for the Local Government Property Insurance Fund (LGPIF) to permit investments in individual fixed income securities. Prior to enactment of
2007 Wisconsin Act 170, the law only permitted SWIB to invest LGPIF assets in SIF.
4. Clarified that a US equity portfolio may invest up to 10% of the portfolio's market value in international and emerging market companies that are traded on an exchange located in a developed country. These investments are subject to the Freedom House and Index of Economic Freedom restrictions that apply to all investments in non-US countries.
5. Granted discretion to the Wisconsin private equity portfolio staff to hold or sell a company's stock that becomes publicly traded. The authority applies to shares the portfolio received through a distribution or holds because the company went public.