Thursday, December 3, 2009
Ninety-Ninth Regular Session
STATE OF WISCONSIN
Senate Journal
The Chief Clerk makes the following entries under the above date.
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Introduction, First Reading, and
Reference of Proposals
Read first time and referred:
Senate Bill 418
Relating to: disclosure of information by health care providers and insurers and providing a penalty.
By Senators Sullivan, Kreitlow, Cowles, Miller, Lehman, Vinehout, Taylor and Wirch; cosponsored by Representatives Richards, Staskunas, Turner, Pope-Roberts, Hebl, Roys, A. Williams, Soletski, Hraychuck, Krusick, Hilgenberg and Milroy.
To committee on Health, Health Insurance, Privacy, Property Tax Relief, and Revenue.
Senate Bill 419
Relating to: requiring the Department of Agriculture, Trade and Consumer Protection to establish standards for products sold as honey, prohibiting the labeling as Wisconsin certified honey of a product that has not been determined to meet the standards, prohibiting the labeling as honey of a product that does not meet the standards, and requiring the exercise of rule-making authority.
By Senators Vinehout, Lehman, Miller and Schultz; cosponsored by Representatives Garthwaite, Vruwink, Barca, Ballweg, Brooks, Clark, Hilgenberg, Kerkman, Knodl, Molepske Jr., A. Ott, Pasch, Pope-Roberts, Ripp, Roys, Schneider, Steinbrink, Tauchen, Turner, A. Williams, Young and Zigmunt.
To committee on Agriculture and Higher Education.
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Petitions and Communications
State of Wisconsin
Office of the Secretary of State
December 3 , 2009
The Honorable, the Legislature:
Bill Number Act Number Publication Date
Senate Bill 259Act 80 December 15 , 2009
Senate Bill 241Act 85 December 15 , 2009
Senate Bill 253Act 88 December 15 , 2009
Senate Bill 40Act 89 December 15 , 2009
(Vetoed in Part)
Sincerely,
DOUGLAS LA FOLLETTE
Secretary of State
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State of Wisconsin
Legislative Audit Bureau
December 3, 2009
The Honorable, The Legislature:
We have completed an audit of the financial statements of the Wisconsin State Life Insurance Fund for the years ended December 31, 2008, 2007, 2006, and 2005, as required by s. 13.94(1)(de), Wis. Stats. The Fund provides low-cost life insurance policies to Wisconsin residents, is self-funded through premiums and investment earnings, and is administered by the Office of the Commissioner of Insurance. As of December 31, 2008, it had 28,195 life insurance policies in effect, and $214.8 million of life insurance in force. The Fund operates under specific statutory restrictions, including a prohibition on employing insurance agents and a limitation on coverage of $10,000 to any insured person.
The Fund prepares its financial statements in accordance with insurance accounting practices prescribed by the Commissioner of Insurance. We found its financial statements to be fairly presented in accordance with these accounting practices.
State statutes require the Fund's net profits to be distributed annually as policy dividends, except that the Fund's surplus must be maintained at a level between 7.0 and 10.0 percent of assets to ensure benefits can be paid as they are claimed. However, as we reported previously (report 05-17), the Fund's surplus-to-assets ratio was only 2.7 percent as of December 31, 2004, which was below the statutorily required minimum. The Office of the Commissioner of Insurance worked with the Fund's actuary and implemented several changes, including a new dividend policy, beginning in 2005. As a result, the surplus-to-assets ratio was 7.3 percent and within the statutorily required range as of December 31, 2008.
In a separate letter dated December 3, 2009, we make recommendations to improve the Fund's financial reporting, reconcile cash recorded in the State's central accounting system to cash recorded in the Fund's general ledger, and improve its security over computer systems and data.
We appreciate the courtesy and cooperation extended to us by the staff of the Office of the Commissioner of Insurance in completing our audit.
Sincerely,
jancie mueller
State Auditor
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S436 Advice and Consent of the Senate
State of Wisconsin
Office of the Governor
December 2, 2009
The Honorable, The Senate:
I am pleased to nominate and with the advice and consent of the Senate, do appoint Potter , Edward, of Mt. Pleasant, as a member of the Real Estate Appraisers Board, to serve for the term ending May 1, 2012.
Respectfully Submitted,
JIM DOYLE
Governor
Read and referred to committee on Judiciary, Corrections, Insurance, Campaign Finance Reform, and Housing.
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Referrals and Receipt of Committee Reports Concerning Proposed Administrative Rules
Relating to the approved version of REScheck software used to show compliance with uniform dwelling code thermal envelope requirements.
Submitted by Department of Commerce.
Report received from Agency, December 2, 2009.
Referred to committee on Commerce, Utilities, Energy, and Rail, December 3, 2009.
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