Amendment SA2-SB226

LRBa0650/1

PJK&RAC:lmk&jld:nwn

2007 - 2008 LEGISLATURE

SENATE AMENDMENT 2, TO 2007 SENATE BILL 226

August 13, 2007 - Offered by Senator Breske.

SB226-SA2,1,1 At the locations indicated, amend the bill as follows:

SB226-SA2,1,2 1. Page 3, line 1: before that line insert:

SB226-SA2,1,3 " Section 1b. 20.145 (5) of the statutes is repealed.

SB226-SA2, s. 1d Section 1d. 25.14 (1) (a) (intro.) of the statutes is amended to read:

SB226-SA2,1,9 25.14 (1) (a) (intro.) There is created a state investment fund under the jurisdiction and management of the board to be operated as an investment trust for the purpose of managing the securities of all funds that are required by law to be invested in the state investment fund and all of the state's funds consisting of the funds specified in s. 25.17 (1), except all of the following:

SB226-SA2, s. 1e Section 1e. 25.17 (63) of the statutes is created to read:

SB226-SA2,1,13 25.17 (63) If requested by the Health Insurance Risk-Sharing Plan Authority, invest funds of the Health Insurance Risk-Sharing Plan Authority in the state investment fund.

SB226-SA2, s. 1h Section 1h. 40.02 (54) (L) of the statutes is created to read:

SB226-SA2,2,2 40.02 (54) (L) The Health Insurance Risk-Sharing Plan Authority.

SB226-SA2, s. 1m Section 1m. 149.11 (2) (a) 1. of the statutes is amended to read:

SB226-SA2,2,5 149.11 (2) (a) 1. Insurer assessments under s. 149.13 , paid to the authority under s. 20.145 (5) (g).

SB226-SA2, s. 1n Section 1n. 149.11 (2) (a) 3. of the statutes is repealed and recreated to read:

SB226-SA2,2,8 149.11 (2) (a) 3. Moneys received from the federal government in high risk pool grants.

SB226-SA2, s. 1p Section 1p. 149.11 (2) (b) of the statutes is amended to read:

SB226-SA2,2,13 149.11 (2) (b) The authority controls the assets of the fund and shall select regulated financial institutions in this state that receive deposits in which to establish and maintain accounts for assets needed on a current basis. If practicable, the accounts shall earn interest.".

SB226-SA2,2,14 2. Page 3, line 1: delete " Section 1" and substitute "Section 1r".

SB226-SA2,2,15 3. Page 3, line 9: after that line insert:

SB226-SA2,2,16 " Section 2m. 149.13 (3) (a) of the statutes is amended to read:

SB226-SA2,2,22 149.13 (3) (a) Each insurer's proportion of participation under sub. (2) shall be determined annually by the commissioner based on annual statements and other reports filed by the insurer with the commissioner. The commissioner shall assess an insurer for the insurer's proportion of participation based on the total assessments estimated by the authority. An insurer shall pay the amount of the assessment directly to the authority.".

SB226-SA2,2,23 4. Page 4, line 25: after that line insert:

SB226-SA2,2,24 " Section 9m. 149.143 (1) (intro.) of the statutes is amended to read:

SB226-SA2,3,6 149.143 (1) Costs excluding subsidies. (intro.) The authority shall pay plan costs, excluding any premium, deductible, and copayment subsidies, first from any federal funds, if any, that are transferred to the fund under s. 20.145 (5) (m) and under s. 149.11 (2) (a) 3. that exceed premium, deductible, and copayment subsidy costs in a policy year. The remainder of the plan costs, excluding premium, deductible, and copayment subsidy costs, shall be paid as follows:

SB226-SA2, s. 9p Section 9p. 149.143 (2) (intro.) of the statutes is amended to read:

SB226-SA2,3,11 149.143 (2) Subsidy costs. (intro.) The authority shall pay for premium, deductible, and copayment subsidies in a policy year first from any federal funds, if any, that are transferred to the fund under s. 20.145 (5) (m) under s. 149.11 (2) (a) 3. received in that year. The remainder of the subsidy costs shall be paid as follows:".

SB226-SA2,3,12 (End)