2004 Special Session I

Budget Amendments - HB5001 (Conference Report)

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Report on Constitutional Officers' Insurance Program (language only)

Item 290 #1c

Item 290 #1c

Treasury, Department of the

Page 216, after line 54, insert:
"C. The Department of the Treasury shall report to the Governor and Chairmen of the House Appropriations and Senate Finance Committees by September 1, 2005, its recommended liability insurance premiums for constitutional officers and regional jails under the VARisk program for the following biennium. This report shall also include the basis for the department’s recommendations, program administrative costs, the number and amount of settlements concluded in the previous fiscal year, the impact of those settlements on the program’s reserves, and the actions the Department has taken to reduce either the number and cost of claims or its administrative costs and attorneys fees."

(This amendment requires the provision of similar information to that provided by the Department of Human Resources Management for the state employee workers' compensation program. The information the Department of the Treasury's Division of Risk Management will provide is necessary to examine what steps have been taken to reduce the costs of liability insurance for constitutional officers and what potential other actions may be taken.)