Tuesday, March 22, 2011
One-Hundredth Regular Session
Senate Journal
The Chief Clerk makes the following entries under the above date.
Introduction, First Reading, and
Reference of Proposals
Read first time and referred:
Senate Bill 41
Relating to: agreements relating to motor carrier liability.
By Senators Lazich, Lasee, Galloway, Kedzie and Schultz; cosponsored by Representatives Nygren, Klenke, Bies, Brooks, A. Ott, Van Roy and Kaufert.
To committee on Transportation and Elections.
Senate Bill 42
Relating to: mandatory reporting of child abuse or neglect by school district employees; training in child abuse and neglect identification, laws, and procedures for those employees; retaliation against a person who reports child abuse or neglect in good faith, and granting rule-making authority.
By Senator Wanggaard ; cosponsored by Representatives Vos, Turner and Pridemore.
To committee on Judiciary, Utilities, Commerce, and Government Operations.
Senate Bill 43
Relating to: parking on the streets adjacent to the state capitol park.
By Senators Grothman and Risser; cosponsored by Representative Ripp .
To committee on Judiciary, Utilities, Commerce, and Government Operations.
Senate Bill 44
Relating to: closing hours for certain alcohol beverage retailers.
By Senators Grothman, Leibham and Cowles; cosponsored by Representatives Wynn, Kaufert, Krug, LeMahieu, Thiesfeldt, Van Roy and Ziegelbauer.
To committee on Judiciary, Utilities, Commerce, and Government Operations.
Senate Bill 45
Relating to: administration of medication to pupils.
By Senators Olsen and Harsdorf; cosponsored by Representatives Kestell, Kooyenga, Ziegelbauer, Thiesfeldt, Petersen, Spanbauer, Marklein, Brooks, Strachota, Kaufert, LeMahieu and Jacque.
To committee on Health.
Petitions and Communications
State of Wisconsin
Office of Senator Kapanke
March 22, 2011
The Honorable, The Senate:
I am writing regarding Clearinghouse Rule 10-122, relating to making minor technical changes to the department's rules. This rule was referred to the Senate Committee on Agriculture, Forestry, and Higher Education on March 16, 2011.
Pursuant to Wisconsin Statute 227.19(4)b, I am formally requesting a meeting with your agency to review the proposed rule.
I understand this request will extend the committee review period 30 days from the date on which the original 30-day review period would have expired. The original 30-day period would have expired on April 15, 2011.
dan kapanke
Chair, Senate Committee on Agriculture, Forestry and Higher Education
State of Wisconsin
Investment Board
March 15, 2011
The Honorable, The Legislature:
Since 2007, we have significantly increased the share of investments managed by SWIB's own professional investment staff and reduced reliance on outside investment firms. Our staff now internally manages nearly 50 percent of our stock and bond holdings, almost double the average for large public pension funds according to recent national surveys.
The net annual savings to the Wisconsin Retirement System (WRS) from active internal management currently exceeds $26 million and is growing. Active internal management costs in the public markets for the five years ending December 31, 2009, averaged just seven basis points of assets under management, only one-quarter the cost of external management. More importantly, two recent reports from industry experts - one specifically about SWIB and the other regarding a group of large public pension funds - observed that investment results from internal management have been as good as or better than those of external management after costs.
S193 Some public markets, such as economically emerging countries, are less suited to internal management because having staff in country can be an important part of the investment process. In private markets like venture capital and real estate, it is impractical for SWIB and most public pension funds to staff up to the level needed to internally select and manage a large portfolio of start-up companies or individual properties. Even so, SWIB staff has an important role in these markets because they select and monitor the external managers or general partners that make investments on our behalf.
Building a robust and successful internal management program requires the ability to attract and retain experienced staff. The trust funds have benefited financially from the decisions of Wisconsin policymakers and WRS leaders to support adding the staff and offering the compensation necessary for SWIB to sustain and expand low cost internal management. In fact, the cumulative added return from our internal investments in stocks and bonds over the five years ending December 31, 2009, was over $200 million after costs.
By being directly engaged in the markets, SWIB's internal management program also helps the WRS in other important ways. SWIB is more informed in setting overall long-term strategy and can be more nimble in the volatile financial markets that continue to challenge investors.
james a. sentry
State of Wisconsin
Department of Administration
Department of Natural Resources
March 17, 2011
The Honorable, The Senate:
Environmental Improvement Fund (EIF) program legislation (s.281.59(3)(bm)2, Wis. Stats.) requires the Department of Natural Resources and the Department of Administration to submit to the Legislature and to the State Building Commission any amendments to the EIF Biennial Finance Plan that were made by the Governor for inclusion in the budget. The purpose of the Plan is to provide information on loan, loan subsidy, and bonding levels for program operations in the 2011-2013 biennium.
A third, and final, version of the Biennial Finance Plan will be distributed after the biennial budget is enacted.