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SB 1513 California Senate · 2011-2012 Regular Session

State Compensation Insurance Fund: investments.

Summary
Existing law requires the board of directors of the State Compensation Insurance Fund to invest and reinvest, from time to time, all moneys in the State Compensation Insurance Fund in excess of current requirements in the same manner as is authorized in certain provisions applicable to private insurance carriers. Existing law prohibits the board from investing or reinvesting in certain investments, including real estate and call options on common stock. This bill would authorize, only until January 1, 2025, the board to invest or reinvest, an aggregated maximum of 20% of the moneys that are in excess of the admitted assets over the liabilities and required reserves, in specified investments, including the stock of certain corporations, specified mortgage-related investment instruments, and in the stock of a federal home loan bank. The bill would require the Department of Insurance to submit to the Legislature by January 31, 2019, a report that assesses the benefit and risk of the State Compensation Insurance Fund's equities investment history by measuring the volatility and total return of the fund's investment portfolio, as specified.
Bill status signed all 5 stages cleared
Introduction
Feb 2012
Committee Review
Aug 2012
Senate Passage
May 2012
Assembly Passage
Aug 2012
Signed into Law
Sep 2012
Introduced Feb 24, 2012 Signed Sep 30, 2012
Floor votes · Senate May 29, 2012 · Assembly Aug 16, 2012

How they voted

34–0
Passed · 1 other
Total votes 35
May 29, 2012
D Democratic23
23 Yea
100% Yea
R Republican12
11 Yea 1
91% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
32
Key actions
10
Committee
7
Amendments
3
Sep 30, 2012
Signed into law
Approved by the Governor.
legislature
Aug 21, 2012
Upper · Passed
Assembly amendments concurred in. (Ayes 38. Noes 0. Page 4629.) Ordered to engrossing and enrolling.
upper
Aug 16, 2012
Assembly · Passed
Assembly Vote: pass (70-0-2)
assembly
Aug 16, 2012
Introduced
In Senate. Concurrence in Assembly amendments pending.
upper
Aug 9, 2012
Lower · Passed
From committee: Do pass. Ordered to consent calendar. (Ayes 17. Noes 0.) (August 8).
lower
Jun 26, 2012
Lower · Passed
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 11. Noes 0.) (June 20).
lower
Jun 7, 2012
Committee
Referred to Com. on INS.
lower
May 29, 2012
Senate · Passed
Senate Vote: pass (34-0-1)
senate
May 24, 2012
Upper · Passed
From committee: Do pass. (Ayes 7. Noes 0. Page 3598.) (May 24).
upper
May 7, 2012
Upper · Passed
Hearing postponed by committee.
upper
Apr 25, 2012
Upper · Passed
Hearing postponed by committee.
upper
Apr 12, 2012
Upper · Passed
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 8. Noes 0. Page 3143.) (April 11).
upper
Mar 22, 2012
Committee
Referred to Com. on INS.
upper
Feb 24, 2012
Introduced
Introduced. To Com. on RLS. for assignment. To print.
upper
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.