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Bill would require biennial report on state risk insurance fund amid concerns about fund shortfall
Summary
Senate Bill 463 would require the Department of Administrative Services to report every even-numbered year on the financial condition of Oregon’s state insurance fund. Sponsors said the fund’s reserves are small relative to known and projected liabilities and urged immediate informational follow-up with DAS and the Department of Justice.
Senate Bill 463, sponsored by Sen. Suzanne Weber with co-sponsorship noted from Sen. Gelser and Representative E. Warner Raschke, would require the Oregon Department of Administrative Services (DAS) to submit a report by Aug. 30 of each even-numbered year on the financial condition and stability of the state insurance (risk) fund. The bill also carries a subsequent referral to the Joint Committee on Ways and Means.
Weber told the committee the proposal is “a simple bill” intended to prevent the fund’s decline…
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