Posted on 04/11/2009 9:14:35 AM PDT by george76
Attorney General John Suthers said Friday that a plan by Colorado lawmakers to tap a workers' compensation fund for $500 million to balance the state budget is unconstitutional and impossible to defend in court.
"Pinnacol's funds are not assets of the state and Pinnacol's policyholders have vested rights in any surplus funds," wrote Solicitor General Dan Domenico in a legal analysis that Suthers, a Republican, asked him to prepare. Seizing the money "would violate the Colorado Constitution."
Domenico also wrote that he could not "envision how our office would make a good-faith defense of such an action," and even if it could, it would be a long and costly court battle.
The analysis was released one day after the Colorado Senate gave initial approval to two bills that would take $500 million from Pinnacol Assurance, the workers' comp insurance fund, and clearly put the quasi- governmental agency under state control.
(Excerpt) Read more at denverpost.com ...
Obamavision destroying our way of life.
More may now leave the Colorado Senate for BHO’s easy money?
They will come after your 401K, count on it.
NOt just your 401k, but your savings account, the kids’ piggy banks, etc. The government addiction to spending does not get enough attention.
Thank God. I am really happy Suthers said something about it too. He’s not always as conservative as we’d like.
The gall of these Democrat legislators is truly scary. Our job has to keep the pressure on all of them, and to keep the public informed as we look ahead to the 2010 elections.
Sounds like we’ll do better stopping the madness than can be done nationally as zero and the gang takeover companies and move us towards socialism/fascism.
This guy sounds like a firecracker! Do a Yahoo search on him; charter school defender, stood up to Ritter on a tax hike issue....
Looks like a reasonable individual.
It’s already in the plan. They are going to find a way to ‘manage’ our retirement accounts.
We have got to get some sane people elected in 2010 and put a stop to the insanity.
Any time there’s a pile of money around, someone’s going to try to figure out a way to take it, even if it isn’t theirs. Bank robbers, politician....there’s really not much difference when it comes to other people’s money.
Yup, the AG’s one of the good guys.
>> They will come after your 401K, count on it.
I think it’s likely that they will, but they will be damn disappointed at how little of my nest egg is in there.
And I plan to keep it that way.
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