Review and Comment Hearing for Initiative #315, 316, 317
Legislative Council and Legal Services staff walked proponents through review-and-comment on three linked ballot measures — Initiatives #315, #316 and #317 — that would convert the state's Pinnacol Assurance from a political subdivision into an independent mutual insurance company, extract a one-time $150 million payment to the state, and steer the proceeds toward skilled-trades training. The measures diverge on workers' compensation coverage of last resort and on how they treat Pinnacol's PERA affiliation.
Key Actions
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Notable Quotes
“The major purposes of the proposed amendments to the Colorado revived statutes appear to be one. To convert Pinnacle Assurance from a political subdivision of the state to an independent Mutual Insurance Co. 2. To require Pinnacle Assurance to pay the state a one time $150 million payment as part of the conversion”
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Sign in to subscribeAll right, I'll call our meeting to order if everyone's ready. We're two minutes early, but that's okay. It is? Yes. March 27th, but it's April 2nd. I was like, that date is wrong. It's April 2nd. We're in House Room 109. It's just about 2:00pm and we're here to discuss the proposed initiative measures 205, 206, 315, 316, and 317 concerning the separation of Pinnacle Assurance from the state to fund workforce development. And if we could just go around the room and introduce ourselves. I'm Aaron Reynolds from Legislative Council staff. I'm Josh Schultz with the Office of Legislative Legal Services. I'm John Matthews, proponent. I'm Larry Blackshear, also a proponent. Nate Bruggeman from Rec. Kornfeld, Council for the Designated Representatives. All right, I'm going to go ahead and read the introduction of this memorandum, and then I'll hand it over to my colleague, Mr. Schultz. Section 1401051 CRS requires the directors of Legislative Council staff and the Office of Legislative Legal Services to review and comment on initiative petitions for proposed laws and amendments to the Colorado Constitution. We hereby submit our comments and questions to you regarding the appended proposed initiatives. The purpose of the statutory…
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