Bill Summary for Bill Number SB05-172

Final
BILL SUMMARY for SB05-172

HOUSE COMMITTEE ON FINANCE

Votes:

Action Taken:

Refer SB 05-172, to the Committee of the Whole. T

PASS

09:42 AM -- Senate Bill 05-172 - Concerning Group Benefit Plans

Representative Plant, prime sponsor, began by discussing two group benefits plans. He explained that Senate Bill 05-172 specifies that the moneys in the Group Benefit Plans Reserve Fund and the Premium Stabilization Reserve Account are not general assets of the state. The bill restricts the purposes for which moneys in the Reserve Fund may be expended in the event the Department of Personnel and Administration enters into or renews contracts for self-funded group benefit plans. The bill clarifies that moneys in the Reserve Account, as an account within the Reserve Fund, shall not be included in state revenues. Representative Plant commented that the bill prohibits moneys in the Reserve Fund and the Reserve Account from being appropriated by the General Assembly or expended by the department for any other purpose.


BILL:	SB05-172
TIME:	09:43:54 AM
MOVED:	Cloer
MOTION:	Refer SB 05-172, to the Committee of the Whole. The motion passed on a 12-0-1 vote.
SECONDED:	Marshall
		VOTE
	Benefield	Yes
	Cloer	Yes
	Crane	Yes
	Frangas	Yes
	Garcia	Yes
	Jahn	Yes
	Marshall	Yes
	Massey	Yes
	May M.	Excused
	McCluskey	Yes
	Witwer	Yes
	Judd	Yes
	Vigil	Yes
Final YES: 12 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS