The 2012 IAR Table provides insurers with a more accurate tool for calculating minimum reserves. This is beneficial to the both the insurers and consumers. The emergency rule will provide insurers with the earliest opportunity to use the 2012 IAR Table while the permanent rule moves through the legislative process. In addition, the proposed permanent rule has been recommended by the National Association of Insurance Commissioners (NAIC) and is in the process of being adopted in other states. The emergency rule will help domestic insurers remain on equal footing with insurers from other states where the rule is already being adopted.
2. Detailed Description of the Objective of the Rule
The proposed emergency and permanent rule would require life insurers to use the 2012 IAR Table when determining the minimum standard of valuation for individual annuity and pure endowment contracts issued on or after January 1, 2015. The proposed emergency and permanent rule would modernize an outdated table. The 2012 IAR Table is comprised of a basic experience table with margins (the 2012 Individual Annuity Mortality Period Life Table) and a projection scale. The addition of a projection scale to the 2012 IAR Table allows the Table to remain up-to-date over a longer period of time because it allows the Table to adjust by considering the most accurate statistics during each valuation year.
3. Description of Existing Policies Relevant to the Rule and of New Policies Proposed to be Included in the Rule and an Analysis of Policy Alternatives; the History, Background, and Justification for the Proposed Rule
The existing requirements are contained primarily in s.
623.06 (2a) (b) and
(4m), Wis. Stats., s.
Ins 2.30 (3), and Subch.
V of ch. Ins. 50, Wis. Adm. Code. These provisions establish that mortality tables are to be used by insurers to calculate minimum reserves and establish requirements related to testing and reporting of actuarial information. Current rules require insurers to use the Annuity 2000 Mortality Table as adopted by the NAIC. The proposed emergency and permanent rule will require insurers to use the 2012 IAR Table as adopted by the NAIC in December 2012 for calculating the minimum reserves on contracts written on or after January 1, 2015. The proposed rule is being considered as it has been recommended by the NAIC and is in the process of being adopted by other states. Further, not adopting the 2012 IAR Table may place domestic insurers at a competitive disadvantage compared to insurers from states where the table has been adopted.
4. Detailed Statutory Authority for the Rule (Including the Statutory Citation and Language)
The Commissioner has the general authority to promulgate rules necessary to administer and enforce chs.
600 to
655, Wis. Stats., and as provided under ss.
227.11 (2) (a) and
601.41 (3), Wis. Stats. Further, under ss.
623.06 (2a) (b) and
(4m), Wis. Stats., the commissioner has specific authority to determine the minimum standard for the valuation of individual annuity and pure endowment contracts by establishing mortality tables to be used by insurers to calculate minimum reserves and requirements related to the testing and reporting of actuarial information.
5. Estimates of the Amount of Time that State Employees Will Spend to Develop the Rule And of Other Resources Necessary to Develop the Rule
60 hours and no other resources are necessary to develop the rule.
6. List with Description of all Entities that may be Impacted by the Rule
The proposed rule will affect insurers offering individual annuity and pure endowment contracts.
7. Summary and Preliminary Comparison of any Existing or Proposed Federal Regulation that is Intended to Address the Activities to be Regulated by the Rule
The office is unaware of any proposed or existing federal regulation that is intended to address the activities to be regulated by this proposed rule.
8. Anticipated Economic Impact of Implementing the Rule (Note if the Rule is Likely to Have a Significant Economic Impact on Small Businesses)
significant economic impact on small businesses?
yes
x no
local/statewide economic impact (choose one)
x minimal or none (< or = $50,000)
moderate ($50,000—$20,000,000)
significant (>$20,000,000)
9. Contact person
Timothy L. Cornelius
(608) 267-8622
Safety and Professional Services
Professional Services, Chs.
SPS 1—299
The statement of scope was approved by the governor on August 22, 2014.
Rule No.
Relating to
Credential renewal or reinstatement.
Rule Type
Permanent.
1. Finding/Nature of Emergency (Emergency Rule Only)
N/A.
2. Detailed Description of the Objective of the Proposed Rule
The proposed rulemaking project is intended to create a definition of credential reinstatement and clarify the process for credential renewal or reinstatement for individuals who have failed to renew within 5 years after the credential renewal date.
3. Description of Existing Policies Relevant to the Rule and of New Policies Proposed to be Included in the Rule and an Analysis of Policy Alternatives
Current department administrative rules are silent with regards to credential reinstatement for individuals who have failed to renew within 5 years after the credential renewal date.
4. Detailed Explanation of Statutory Authority for the Rule (Including the Statutory Citation and Language)
Section
227.11 (2) (a), Wis. Stats. Rule-making authority is expressly conferred as follows: (a) Each agency may promulgate rules interpreting the provisions of any statute enforced or administered by the agency, if the agency considers it necessary to effectuate the purpose of the statute, but a rule is not valid if the rule exceeds the bounds of correct interpretation. All of the following apply to the promulgation of a rule interpreting the provisions of a statute enforced or administered by an agency:
1. A statutory or nonstatutory provision containing a statement or declaration of legislative intent, purpose, findings, or policy does not confer rule-making authority on the agency or augment the agency's rule-making authority beyond the rule-making authority that is explicitly conferred on the agency by the legislature. 2. A statutory provision describing the agency's general powers or duties does not confer rule-making authority on the agency or augment the agency's rule-making authority beyond the rule-making authority that is explicitly conferred on the agency by the legislature. 3. A statutory provision containing a specific standard, requirement, or threshold does not confer on the agency the authority to promulgate, enforce, or administer a rule that contains a standard, requirement, or threshold that is more restrictive than the standard, requirement, or threshold contained in the statutory provision.
Section
440.08 (3) (b), Wis. Stats. The department or the interested examining board or affiliated credentialing board, as appropriate, may promulgate rules requiring the holder of a credential who fails to renew the credential within 5 years after its renewal date to complete requirements in order to restore the credential, in addition to the applicable requirements for renewal established under chs.
440 to
480, that the department, examining board or affiliated credentialing board determines are necessary to protect the public health, safety or welfare. The rules may not require the holder to complete educational requirements or pass examinations that are more extensive than the educational or examination requirements that must be completed in order to obtain an initial credential from the department, the examining board or the affiliated credentialing board.
5. Estimates of the Amount of Time that State Employees Will Spend to Develop the Rule And of Other Resources Necessary to Develop the Rule
50 hours.
6. List with Description of all Entities that may be Affected by the Proposed Rule
All Department credential holders.
7. Summary and Preliminary Comparison of any Existing or Proposed Federal Regulation that is Intended to Address the Activities to be Regulated by the Rule
None.
8. Anticipated Economic Impact of Implementing the Rule (Note if the Rule is Likely to Have a Significant Economic Impact on Small Businesses)
The Department believes that the proposed revisions will have minimal to no economic impact.
The Department believes that the proposed revisions will have minimal to no impact on small businesses.
9. Contact Person
Katie Paff, Program and Policy Analyst
(608) 261-4472
Safety and Professional Services —
Examining Board of Architects, Landscape Architects, Professional Engineers, Designers and Land Surveyors
The statement of scope was approved by the governor on August 22, 2014.
Rule No.
Relating to
Land surveyor professional licensure.
Rule Type
Permanent.
1. Finding/nature of emergency (Emergency Rule only):
NA.
2. Detailed Description of the Objective of the Proposed Rule
The objective of this proposed rule is to amend Wisconsin Administrative Code chs.
A-E 1,
2,
6,
7,
8, and
10 in order to bring these rules into compliance with recently enacted legislation,
2013 Wisconsin Act 358.
3. Description of Existing Policies Relevant to the Rule and of New Policies Proposed to be Included in the Rule and an Analysis of Policy Alternatives
2013 Wisconsin Act 358 significantly impacted land surveyor practice in Wisconsin. The Act was comprehensive and instituted a variety of changes throughout the statutes. This scope statement will focus on the changes made primarily to Wisconsin Administrative Code chs.
A-E 1,
2,
6,
7,
8, and
10. The Act replaced the certificate of registration credential with a licensed professional land surveyor credential making land surveyors licensed professionals. Secondly, Act 358 added the terms “practice of professional land surveying" and “professional land surveyor" as statutory definitions thereby creating the necessity to update the term “land surveyor" with the term “professional land surveyor" throughout the A-E chapters. A third change prompted by the legislation includes the repeal of the temporary permit which had allowed applicants for registration who held an unexpired certificate of registration in another state to obtain a temporary permit while they were waiting to take the jurisdictional exam in Wisconsin. This provision will go into effect on August 1, 2014. Lastly, the Act also repealed the apprenticeship training course path to licensure. The repeal of the apprenticeship provision will also go into effect on August 1, 2014. The proposed rule will amend Wisconsin Administrative Code chs.
A-E 1,
2,
6,
7,
8, and
10 to reflect these changes as well as any other changes necessary to resolve inconsistencies between the rules and
2013 Wisconsin Act 358.
4. Detailed Explanation of Statutory Authority for the Rule (Including the Statutory Citation and Language)
Section
15.08 (5) (b), Stats., “shall promulgate rules for its own guidance and for the guidance of the trade or profession to which it pertains, . . ." The proposed rule will provide guidance in the profession regarding the substantial changes made to the practice of land surveying in Wisconsin.
Section
227.11 (2) (a), Stats., discusses the parameters of an agency's rule-making authority, stating an agency, “may promulgate rules interpreting the provisions of the statute, but a rule is not valid if it exceeds the bounds of correct interpretation. . ." This section allows an agency to promulgate administrative rules which interpret the statutes it enforces or administers as long as the proposed rule does not exceed proper interpretation of the statute. Section
227.01 (1), Stats., defines agency as a board.
Section
443.015 (2), Stats., “Each section of the examining board may promulgate rules governing the professional conduct of individuals, firms, partnerships, and corporations register, permitted, certified or granted certificate of authorization by that section."
5. Estimates of the Amount of Time that State Employees Will Spend to Develop the Rule And of Other Resources Necessary to Develop the Rule
State employees will spend approximately 80 hours developing this proposed rule.
6. List with Description of all Entities that may be Affected by the Proposed Rule
The proposed rule will affect applicants for land surveyor credentials and currently registered land surveyors.
7. Summary and Preliminary Comparison of any Existing or Proposed Federal Regulation that is Intended to Address the Activities to be Regulated by the Rule
None.
8. Anticipated Economic Impact of Implementing the Rule (Note if the Rule is Likely to Have a Significant Economic Impact on Small Businesses)
It is anticipated that the proposed rule will not have a significant economic impact on small businesses.
9. Contact Person
Shawn Leatherwood
(608) 261-4438
Safety and Professional Services —
Chiropractic Examining Board
