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.