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JFC Acts on Local Government Property Insurance Fund
By Wisconsin School Administrators Alliance staff | April 18, 2015
?The Joint Finance Committee (JFC) on Friday modified the Governor’s recommendation to cease operations of the local government property insurance fund. The motion, authored by Senator Howard Marklein and ultimately passing 16-0, delays the termination of the local government property insurance fund policies by two years and would require the Insurance Commissioner to adopt the policy rates and structure recommended by the Advisory Committee at its April 2015 meeting. The final date for the issuance of new policies remains at July 1, 2015. The last date for renewal of existing policies moves to January 1, 2018. The last date for filing claims moves to July 1, 2019.
The modification is certainly better than the Governor’s original recommendation. The extended delay gives policyholders time to thoroughly consider available options. It also provides time for other lower-cost providers (the League of Municipalities and the Counties Association have expressed interest) to enter the market, make coverage available to school districts and provide competition.
A lengthy debate on the issue took place among committee members prior to passage of Senator Marklein’s motion. Committee Democrats made motions to simply eliminate the Governor’s recommendation from the budget bill and to provide a revenue cap exemption for any increase in premium costs due to the elimination of the local government property insurance fund. Both of these motions failed on 4-12 party line votes.
The SAA would like to thank those committee members that supported the interests of public school districts in this debate. We also thank Senator Howard Marklein for his thoughtfulness and leadership in authoring the compromise motion that modified the Governor’s recommendation.
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