Amended in Senate April 8, 2013

Senate Bill No. 36

Introduced by Senator begin delete Rubio end delete begin insert Hueso end insert

December 4, 2012

An act begin delete relating to the Safe, Clean, and Reliable Drinking Water Supply Act of 2012 end delete begin insert to add Section end insert begin insert 901 to the Insurance Code, relating to financial statements end insert .

LEGISLATIVE COUNSEL’S DIGEST

SB 36, as amended, begin delete Rubio end delete   begin insert Hueso end insert . begin delete Safe, Clean, and Reliable Drinking Water Supply Act of 2012. end delete begin insert Financial statements: workers’ compensation insurers: publication. end insert

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Existing law requires every insurer doing business in this state to make and file with the Insurance Commissioner annual and quarterly financial statements, as prescribed.

end insert begin insert

This bill would require that those annual and quarterly financial statements filed with the commissioner by workers’ compensation insurers be published on the Department of Insurance’s Internet Web site.

end insert begin delete

Existing law creates the Safe, Clean, and Reliable Drinking Water Supply Act of 2012, which, if approved by the voters, would authorize the issuance of bonds in the amount of $11,140,000,000 pursuant to the State General Obligation Bond Law to finance a safe drinking water and water supply reliability program. Existing law provides for the submission of the bond act to the voters at the November 4, 2014, statewide general election.

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This bill would declare the intent of the Legislature to amend the Safe, Clean, and Reliable Drinking Water Supply Act of 2012 for the purpose of reducing the amount of the $11,140,000,000 bond.

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Vote: majority. Appropriation: no. Fiscal committee:  begin delete no end delete begin insert yes end insert . State-mandated local program: no.

The people of the State of California do enact as follows:

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begin insert SECTION 1. end insert   

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begin insert Section 901 is added to the end insert begin insert Insurance Code end insert begin insert , to
read: end insert

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begin insert 901. end insert   

Annual and quarterly financial statements, filed with the
commissioner pursuant to Section 900, by insurers engaged in the
business of workers’ compensation insurance shall be published
on the department’s Internet Web site.

end insert

begin delete

SECTION 1.  

It is the intent of the Legislature to amend the
Safe, Clean, and Reliable Drinking Water Supply Act of 2012 for
the purpose of reducing the amount of the $11,140,000,000 bond.

end delete