Senate Labor and Business Committee advances SB 463, shortens reporting schedule for state insurance fund

The Senate Committee on Labor and Business on March 27 adopted an amendment to Senate Bill 463 and moved the measure to the Senate floor with a due-pass recommendation and a request to rescind a subsequent referral to the Joint Committee on Ways and Means.

The committee adopted the dash-3 amendment and approved the bill after staff described the underlying change: the Oregon Department of Administrative Services would be required to submit a report by Jan. 15 of each even-numbered year to the Legislative Assembly on the financial condition and stability of the State Accident Insurance Fund (the state's insurance fund). The dash-3 amendment also declared an emergency and made the measure effective on passage.

Whitney, the committee staff member explaining the bill, told the committee the amendment moves the required report date from Aug. 30 to Jan. 15 and that there is no revenue impact and a minimal fiscal impact. Vice Chair Bana moved to adopt the dash-3 amendment; the committee adopted it with no objection. The committee then moved the bill to the floor with a due-pass recommendation and requested that the subsequent referral to the Joint Committee on Ways and Means be rescinded.

Committee members noted the dash-3 amendment removes a prior $120 million allocation referenced in earlier drafts, and that change was cited as part of the rationale for requesting that the Ways and Means referral be rescinded. Senator Weber was named the floor carrier.

The panel did not take a roll-call vote on the committee motion; members present registered no objection and the motions passed by unanimous consent.

What happens next: SB 463 will proceed to the Senate floor; the committee requested removal of the Ways and Means referral so the bill would be considered without that subsequent referral.

— Reporting from the Senate Committee on Labor and Business meeting on March 27, 2025.