72nd OREGON LEGISLATIVE ASSEMBLY--2003 Regular Session
 
SA to SB 869
 
LC 3496/SB 869-1
 
                      SENATE AMENDMENTS TO
                         SENATE BILL 869
 
     By COMMITTEE ON TRANSPORTATION AND ECONOMIC DEVELOPMENT
 
                              May 8
 
  On page 1 of the printed bill, delete lines 4 through 30 and
delete page 2 and insert:
  '  { +  SECTION 1. + }  { + Section 2 of this 2003 Act is added
to and made a part of ORS chapter 656. + }
  '  { +  SECTION 2. + }  { + (1) The Director of the Oregon
Department of Administrative Services and the Attorney General
shall jointly develop a plan for the sale of the assets of the
State Accident Insurance Fund Corporation. The plan must include
provisions for:
  ' (a) Establishing a reserve price for the sale of the assets
of the State Accident Insurance Fund Corporation using
independent analysis to establish a fair market price.
  ' (b) Consideration of the interests of all stakeholders in the
distribution of the proceeds of the sale. Stakeholders include
but are not limited to injured workers with claims with and
employers insured by the State Accident Insurance Fund
Corporation.
  ' (c) Maintaining the trust terms and conditions specified in
ORS 656.634 upon the proceeds of sale of the corporation's
assets.
  ' (d) Protecting employment, retirement and other fringe
benefit rights of the corporation's employees.
  ' (e) Allocating responsibility between the purchaser and
seller for complying with federal and state laws regarding
taxation and all other laws regulating the sale transaction.
  ' (2) The board of directors of the State Accident Insurance
Fund Corporation shall provide all assistance and information
required by the Director of the Oregon Department of
Administrative Services and the Attorney General in preparing the
plan developed under this section. The State Accident Insurance
Fund Corporation may not refuse to provide requested information
on the basis of a claim of trade secret or practice.
  ' (3) Costs associated with the development of the plan
required under this section, including the cost of an independent
analysis conducted to determine the reserve price for the sale,
shall be paid by the State Accident Insurance Fund
Corporation. + }
  '  { +  SECTION 3. + }  { + The plan required to be developed
under section 2 of this 2003 Act shall be reported to the
Legislative Assembly in the manner provided for in ORS 192.245,
and to the Governor, by November 15, 2004. + }
  '  { +  SECTION 4. + }  { + This 2003 Act being necessary for
the immediate preservation of the public peace, health and
safety, an emergency is declared to exist, and this 2003 Act
takes effect on its passage. + } ' .
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