Colo. house panel approves takeover of insurer

By: Associated Press Email
By: Associated Press Email

Denver (AP) - A house committee has approved a bill to take over a state-created workers compensation insurance company to balance next year's budget.

Lawmakers are hoping to use some of Pinnacol Assurance's reserves to avoid huge cuts in higher education.

The legislature is searching for dollars amid a big drop in tax revenues because of the recession.

The bill approved Tuesday by the House Appropriations Committee Changes the structure of Pinnacol and takes control of its money away from its board.

Lawmakers will consider a separate bill that would take $500 million from Pinnacol's surplus to reverse cuts to higher education.
(COPYRIGHT 2009 BY THE ASSOCIATED PRESS. ALL RIGHTS RESERVED.)


You must be logged in to post comments.

Username:
Password (case sensitive):
Remember Me:
KKCO NBC 11 News
2531 Blichmann Avenue
Grand Junction, CO 81505

Station Phone: 970.243.1111
Business Fax: 970.243.1770
Newsroom Fax: 970.245.3793
News Tip & Contest Line: 970.255.8477
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 42982502 - nbc11news.com/a?a=42982502
Gray Television, Inc.