Lawmakers begin study of Pinnacol
By RMI Staff 
| August 5, 2009 | 10:21 AM
The saga of Pinnacol, the state’s semi-private insurance company, continued Tuesday as lawmakers began a study of its future. From Joe Hanel in the Durango Herald:
The company has accumulated a large cash reserve, and lawmakers attempted to take $500 million of it this year to plug the gap in the state budget.
Lawmakers also debated the murky legal status of the company, which does not pay taxes but otherwise acts like an independent firm. The Legislature opted to leave Pinnacol alone until this summer’s committee is finished. Options include privatizing and taxing Pinnacol, selling it or asserting more state control.
“All ideas are welcome and will be considered,” said the panel’s chairwoman, Sen. Morgan Carroll, D-Aurora.
Read the full story here.
