HB0046

Official summary

Summary for LSO115 Bill No.: HB0046 Effective : 3/3/2016 LSO No.: 16LSO-0106 Enrolled Act No.: HEA No. 0009 Chapter No.: 28 Prime Sponsor: Joint Appropriations Committee Catch Title: Investment of worker’s compensation account. Subject: Amends investment of the Worker’ s Compensation Account Summary/Major Elements: Under current law, the Director of the Department of W orkforce S ervices , in consultation with an investment manager, may establish the percentage of the Worker’ s Compensation Account the State Treasurer invest s in common stock. The percentage cannot exceed forty-five percent. This bill authorizes the State Treasurer, in consultation with the Director of the Department of Workforce Services and consistent with investment policy developed by the S tate Loan and Investment Board , to establi sh the percentage of the Worker’ s Compensation Account that ma y be invested in common stock. Comments: Requires a report. The bill requires the Treasurer, in consultation with the Director of the Department of Workforce Services , to report to the Joint Appropriations Committee not later than December 1, 2016 , and every five years thereaft er, on the status of the worker’ s compensation account and the projected status of the account during the subsequent five (5) year period. The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill .