Friday, September 12th, 2003 — A six-member legislative conference committee working into the night has agreed upon a workers‘ compensation package they say will save California businesses $5 billion.
The package, which now awaits action by the Assembly and Senate, combines the savings of SB 228, sponsored by Sen. Alarcon, D-San Fernando Valley, and AB 227, sponsored by Assemblyman Juan Vargas, R-San Diego, for a one-time amount of more than $5 billion. It would also include an ongoing savings of more than $5 billion, its advocates said.
Gov. Gray Davis said at a press conference that the “bipartisan [committee] agreement adopted most of our recommendations.” He appeared with Insurance Commissioner John Garamendi, conference committee members and California business representatives.