Colorado Aims to Rein In Pinnacol’s Spending

March 2, 2011

A Colorado legislator has proposed a bill to limit spending at state-chartered entities, like Pinnacol Assurance.

Last year, the the quasi-governmental workers’ compensation insurer was criticized for lavish spending at a work-related event at Pebble Beach, Calif.

The bill, House Bill 1121, would prohibit any spending on behalf of any board member, officer or employee on travel-related expenditures that would exceed, on a daily basis, two times the maximum allowable federal per diem rate. State-chartered entities also would be prohibited from making travel-related expenditures on behalf of a spouse or immediate family of an employee.

The bill is scheduled to be heard by the House State, Veterans and Military Affairs Committee on Thursday.

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