The Chief Clerk makes the following entries under the above date.
__________________
Senate amendment 1 to Senate substitute amendment 1 to Senate Bill 45 offered by Senator Olsen.
Senate substitute amendment 1 to Senate Bill 95 offered by Senator Olsen.
__________________
The Chief Clerk makes the following entries dated Thursday, June
2
, 2011.
Read first time and referred:
Senate Joint Resolution 34
Relating to: collective bargaining by employees (first consideration).
By
Senators
Carpenter, Hansen, Wirch, Miller and C. Larson; cosponsored by Representatives Shilling, Pasch, Sinicki, Mason, Roys, Turner, Milroy, Staskunas, Doyle, Hebl, Pope-Roberts, Zepnick, Pocan, Kessler, Toles, Young, Fields, Berceau and Hulsey.
To committee on Judiciary, Utilities, Commerce, and Government Operations.
Senate Bill 119
Relating to: the appointment and term of service of the secretary of natural resources and vacancies on the Natural Resources Board.
By
Senators
Holperin, Wirch, Hansen, Miller, Vinehout, Risser, S. Coggs and Lassa; cosponsored by Representatives Bewley, Hulsey, Jorgensen, Pasch, Molepske Jr, Pocan, Hebl, Berceau, Kaufert and Ringhand.
To committee on Natural Resources and Environment.
__________________
Pursuant to Senate Rule 17 (5), Representative Doyle added as a cosponsor of
Senate Bill
118
.
__________________
Read and referred:
Senate Joint Resolution 35
Relating to: declaring June 1 to 7, 2011, as Cardiopulmonary Resuscitation and Automated External Defibrillator Awareness Week.
By
Senators
Wanggaard, Carpenter, S. Coggs, Wirch, Olsen, Risser, Taylor, Lassa, Kapanke, Schultz, Galloway, Ellis and Darling; cosponsored by Representatives Kaufert, Ziegelbauer, Kerkman, Spanbauer, Ripp, Endsley, Brooks, Nerison, Wynn, Thiesfeldt, Ballweg and Jorgensen.
To committee on Senate Organization.
Read first time and referred:
Senate Bill 120
Relating to: an income and franchise tax credit for investments in a community development financial institution, increasing the credit amounts for the dairy manufacturing facility, meat processing facility, and food processing facility investment credits, and granting rule-making authority.
By
Senators
Lassa, Holperin, Hansen, Miller, Erpenbach and Taylor; cosponsored by Representatives Shilling, Clark, Barca, Jorgensen, Molepske Jr, Hebl, Vruwink, Staskunas, Seidel, Ringhand, Berceau and Doyle.
To committee on Financial Institutions and Rural Issues.
Senate Bill 121
Relating to: requiring the Wisconsin Economic Development Corporation to create and implement a business retention program, increasing the funding for skills enhancement grants, advanced manufacturing skills grants for technical colleges, and making an appropriation.
By
Senators
Lassa, Hansen, Wirch, Holperin, Miller, Erpenbach, Risser and Taylor; cosponsored by Representatives Shilling, Jorgensen, Barca, Molepske Jr, Roys, Staskunas, Turner, Berceau, Seidel, Ringhand and Steinbrink.
To committee on Economic Development and Veterans and Military Affairs.
Senate Bill 122
Relating to: the Wisconsin Small Company Advancement program, requiring the Wisconsin Economic Development Corporation to issue bonds and notes to raise capital for investment by venture capital funds in Wisconsin businesses, allowing refunds for the early stage seed and angel investment tax credits, authorizing positions for the University of Wisconsin, and making appropriations.
S316
By
Senators
Lassa, C. Larson, Taylor, Holperin, Miller and Erpenbach; cosponsored by Representatives Pasch, Jorgensen, Roys, Barca, Staskunas, Turner, Berceau, Seidel, Ringhand and Steinbrink.
To committee on Economic Development and Veterans and Military Affairs.
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Pursuant to Senate Rule 17 (5), Senator Grothman added as a coauthor of
Senate Bill
103
.
__________________
Corrections In:
2011 SENATE
BILL
116
Prepared by the Legislative Reference Bureau
(June 2
, 2011)
1. Page 4, line 10: delete "Maintain" and substitute "The board shall maintain".
2. Page 4, line 14: delete "Designate" and substitute "The board shall designate".
3. Page 28, line 1: delete "September
partisan" and substitute "September".
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State of Wisconsin
Government Accountability Board
May 24, 2011
The Honorable, The Senate:
The following lobbyists have been authorized to act on behalf of the organizations set opposite their names.
For more detailed information about these lobbyists and organizations and a complete list of organizations and people authorized to lobby the 2011-2012 session of the legislature, visit the Government Accountability Board's web site at
http://gab.wi.gov/.
Berndt, William Coalition For St. Croix River Crossing
Neitzel, Scott Madison Gas & Electric
Company
Thompson, Anna Medtronic, Inc.
Also available from the Wisconsin Government Accountability Board are reports identifying the amount and value of time state agencies have spent to affect legislative action and reports of expenditures for lobbying activities filed by organizations that employ lobbyists.
Sincerely,
kevin kennedy
Director and General Counsel
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State of Wisconsin
Investment Board
May 25, 2011
The Honorable, The Legislature:
As required by section
25.17 (14m), WI Stats., I am submitting the 2010 Goals, Strategies and Performance Report for the State of Wisconsin Investment Board (SWIB). This report provides information about how SWIB invested the assets we manage and how the investments performed. The report primarily focuses on the Wisconsin Retirement System's (WRS) Core Trust Fund (CTF) and Variable Trust Fund (VTF), which comprised 94% of all assets we invested in 2010.
Following the worst down market since the Great Depression, the markets and the WRS both continued to rebound in 2010. The CTF returned 12.4%, exceeding its benchmark by 0.2%, and the VTF returned 15.6%, exceeding its benchmark by 0.3%. With the exception of real estate, all asset classes outperformed the markets.
The additional positions that SWIB secured in 2008 and 2009 played a key role in outperforming the markets. Because of those positions, SWIB was able to increase the amount of assets invested internally from 21% to 47% by the end of 2010. Because the cost of internal management is considerably less than external, SWIB saved approximately $13 million in 2010 in fees charged to the funds.
The WRS has a shared risk and reward feature whereby employees, retirees and employers share the investment gains and losses. The CTF's earnings or losses are smoothed over five years, while the VTF's are recognized for the year earned. As a result of the devastating losses in 2008, retirees saw a 2.1% reduction in 2009 in the CTF portion of their benefit, followed by further reductions in 2010 and 2011 of 1.3% and 1.2%, respectively.
Although the markets have made a significant recovery in the past two years, they remain volatile and no one can predict if the recovery will continue. To protect the funds in future down or flat markets, we are taking steps and implementing strategies, discussed in the report, to reduce our risk exposure and better prepare the funds for both good and bad markets.
Please let me know if you have any questions about the report or the markets in general.
Sincerely,
keith bozarth
Executive Director
Referred to joint committee on Audit.
Referred to joint committee on Finance.
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State of Wisconsin
Public Service Commission
May 25, 2011
The Honorable, The Legislature:
The enclosed report on all Wisconsin holding companies and their impact on the operations of the Wisconsin public utilities within their holding company systems was prepared as required by Wis. Stat. 196.795(7)(ar) for distribution to the Legislature under Wis. Stat. 13.172(2).
