HB0046 • 2016

Investment of worker's compensation account.

AN ACT relating to worker's compensation; authorizing the state treasurer to determine the percentage of the worker's compensation account to be invested in common stock; providing for consultation with the director of the department of workforce services; providing for the state loan and investment board to develop an investment policy for the worker's compensation account; providing for reports to the joint appropriations interim committee; and providing for an effective date.

Budget Labor

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor: Appropriations
Last action: 2016-03-04
Official status: enrolled
Effective date: 3/3/2016

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

HB0046HS001

Standing Committee • HAC

Adopted

Plain English: Adopted Standing Committee by HAC

This amendment summary is using official source text because generated interpretation was skipped for this run.
The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.

Bill History

2016-03-04 LSO
Assigned Chapter Number
2016-03-03 Governor
Governor Signed HEA No. 0009
2016-02-29 Senate
S President Signed HEA No. 0009
2016-02-26 House
H Speaker Signed HEA No. 0009
2016-02-26 LSO
Assigned Number HEA No. 0009
2016-02-26 Senate
S 3rd Reading:Passed 30-0-0-0-0
2016-02-25 Senate
S 2nd Reading:Passed
2016-02-24 Senate
S COW:Passed
2016-02-23 Senate
S Placed on General File
2016-02-23 Senate
S02 - Appropriations:Recommend Do Pass 5-0-0-0-0
2016-02-19 Senate
S Introduced and Referred to S02 - Appropriations
2016-02-17 Senate
S Received for Introduction
2016-02-16 House
H 3rd Reading:Passed 43-14-3-0-0
2016-02-15 House
H 2nd Reading:Passed
2016-02-12 House
H COW:Passed
2016-02-12 House
Amendment Adopted
2016-02-11 House
H Placed on General File
2016-02-11 House
H02 - Appropriations:Recommend Amend and Do Pass 7-0-0-0-0
2016-02-08 House
H Introduced and Referred to H02 - Appropriations 46-12-2-0-0
2016-02-05 House
H Received for Introduction
2016-01-25 LSO
Bill Number Assigned

Official Summary Text

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
.

Current Bill Text

Read the full stored bill text

ORIGINAL
House
Bill No
.
HB0046

ENROLLED ACT NO. 9,

HOUSE OF REPRESENTATIVES

SIXTY-
THIRD
LEGISLATURE OF THE STATE OF WYOMING
2016 Budget Session

Be It Enacted by the Legislature of the State of Wyoming:

Section 1
.

W.S.
27
‑
14
‑
701(c) and by creating
a
new
subsection

(g) is amended to read:

27
‑
14
‑
701
.

Worker's compensation account established; investments; administrative expenses; rehabilitation expenses; worker's compensation claims payment account established for worker's compensation revenue bond proceeds.

(c)

All money collected and accounted for pursuant to this act not immediately necessary for the purposes of this act shall be invested by the state treasurer in the manner provided by law for investment of permanent state funds. The
director
state treasurer
, in consultation with
a qualified independent investment manager
the
director
and consistent with the investment policy developed by the
state
loan and investment board
, may establish a percent not to exceed forty
‑
five percent (45%) of the total amount collected and accounted for under this subsection to be invested in common stock
.
by the state treasurer.

(
g
)

The state treasurer, in consultation with the director, shall report to the joint appropriations
interim
committee not later than December 1, 2016 and every five (5) years thereafter, on the status of the worker's compensation account and the projected status of the account during the subsequent five (5) year period.

Section 2
.

This act is effective immediately upon the completion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constitution
.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the
House
.

Chief Clerk