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Senate requires regular State Insurance Fund reporting after lawmakers cite large, unclear liabilities
Summary
The Oregon Senate on April 10 passed SB 463 A, directing the Department of Administrative Services to provide biannual, comprehensive reporting on the State Insurance Fund after senators warned legislators lack clear information about the fund's assets and liabilities.
The Oregon Senate on Thursday passed Senate Bill 463 A, ordering the Department of Administrative Services (DAS) to produce a comprehensive, biannual report on the financial status of the State Insurance Fund.
Supporters said the measure fills a transparency gap after lawmakers found they did not know how much the fund held or what liabilities it faced. "As legislators with a fiduciary responsibility to the people of Oregon, we deserve to have this information readily available," said Senator Weber, the bill—arrier.
The bill responds to figures and cases that senators said show the fund is exposed. Senator Gelser Blouin said DAS told a legislative committee earlier that the fund had about $96.8 million in cash and invested assets as of Jan. 26, 2024, while some liabilities…
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