SENATE

STANDING COMMITTEES

FINANCE COMMITTEE

The Finance Committee started in December 1831. Originally, it bore responsibility for reviewing all bills concerned with fiscal matters. In 1975, the review of budgetary and tax matters was assigned to a separate committee - the Budget and Taxation Committee.

Legislation relating to banking and financial institutions; credit regulation and consumer financing; economic and community development; and health and welfare matters is considered by the Committee. Bills concerned with insurance; labor and employment; State personnel issues; racing and lotteries; social programs; transportation; unemployment insurance; utility regulation; and workers' compensation also are reviewed by the Committee. The Committee has eleven members.

Over time the Finance Committee has used subcommittees and work groups to review legislation. In 1976, the Committee had three subcommittees: Consolidation of Services to the Blind; Control and Issuance of Birth Certificates; and Licensing of Professional Counselors. The Health Subcommittee, 1995-97, and the Welfare (later Welfare Reform) Subcommittee, 1995-2000, functioned at the same time that various work groups considered bills. For the 2003 session, the Committee has one subcommittee and two work groups: Health Subcommittee; Division of Labor and Industry Sunset Evaluation Work Group; and Electric Universal Service Program Work Group.

DIVISION OF LABOR & INDUSTRY SUNSET EVALUATION WORK GROUP
The Division of Labor and Industry Sunset Evaluation Work Group formed in 2003. The Work Group is reviewing the Division's authorization which expires on July 1, 2004.

ELECTRIC UNIVERSAL SERVICE PROGRAM WORK GROUP
Within the Finance Committee, the Electric Universal Service Program Work Group organized in January 2003. The Work Group is cooperating with a work group of the House Economic Matters Committee to review termination or extension of the Program.

HEALTH SUBCOMMITTEE
In January 2003, the Health Subcommittee formed to consider issues related to health and health insurance.

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