Utah Fund Privatization Goes to Full Senate

The Salt Lake Tribune reported Friday that a Senate committee voted in favor of Senate Bill 170 and is sending the bill to the full Senate.SB170, by Sen. Curtis Bramble, R-Provo, would would attempt to maintain the federal tax exemption of the Workers Compensation Fund of Utah and continue the Fund's main duty as the state's insurer of last resort while converting to a fully private mutual insurance company. The plan has met opposition and criticism, mainly because of the valuation of the Fund relative to the price being paid to the State to relieve any State claim to Fund assets.The bill prov...