SENATE CONCURRENT RESOLUTION NO. 88
(By Senators McCabe, Oliverio, Bowman, Chafin, Facemyer, Fanning,
Guills, Helmick, Kessler, McKenzie, Minard, Minear, Plymale,
Prezioso and Unger)
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[Originating in the Committee on Economic Development.]
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Requesting the Joint Committee on Government and Finance study the
effects of legislative acts amending the laws governing
workers' compensation, as enacted by the Legislature during
2003 and 2004.
Whereas, The Workers' Compensation Commission is presently
operating with an actuarial deficit in excess of $3 billion; and
Whereas, Through prior legislative enactments, provisions have
been made enabling the Workers' Compensation Commission to
adequately manage the system of premium collections and benefits
payable, yet such efforts alone will not be sufficient to retire
the existing actuarial deficit; and
Whereas, Even with the combination of a properly managed
premium collection system and properly managed benefit delivery
system, the full actuarial deficit currently existing in the Workers' Compensation Commission cannot be retired or extinguished
without further legislative action; and
Whereas, The Legislature recognizes the need for alternative
revenue sources as a means of providing adequate funding for the
Workers' Compensation Commission to meet its obligations to the
workers of this state; therefore, be it
Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby
requested to study the effects of legislative acts amending the
laws governing workers' compensation, as enacted by the Legislature
during 2003 and 2004; and, be it
Further Resolved, That the Joint Committee on Government and
Finance is hereby requested to also develop recommendations for the
Legislature regarding additional legislative action which may be
undertaken to improve the management and retirement of the
financial debts and liabilities of the Workers' Compensation
Commission through alternative sources of revenue beyond increases
in premium collections or decreases in benefits payable; and, be it
Further Resolved, That the Legislature hereby authorizes the
Joint Committee on Government and Finance to request, receive and
examine all reports, documents, testimony, actuarial and financial
information or analysis and any other such material it deems necessary for the Joint Committee on Government and Finance to
accomplish the goals herein set forth; and, be it
Further Resolved, That the Joint Committee on Government and
Finance report to the Legislature by January 1, 2005, on its
findings, conclusions and recommendations, together with drafts of
any legislation necessary to effectuate its recommendations; and,
be it
Further Resolved, That the expenses necessary to conduct this
study, to prepare a report and to draft necessary legislation be
paid from legislative appropriations to the Joint Committee on
Government and Finance.