Lawmakers Consider Ending Some Pinnacol Tax Breaks

January 19, 2011

Colorado lawmakers are considering getting rid of some tax exemptions for Pinnacol Assurance.

The Joint Budget Committee decided last week to draw up the legislation. The decision follows the release of documents showing that the state-chartered workers’ compensation insurance company spent more than $318,000 on a five-day trip to Pebble Beach, Calif., angering some lawmakers.

Pinnacol pays no state or federal taxes. It operates largely like a private insurer but it must provide insurance to any company that can’t get coverage elsewhere.

Republican state Rep. Cheri Gerou said the budget committee proposal would continue to exempt Pinnacol from taxes on those last-resort polices but Pinnacol would have to start paying state taxes on the rest.

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