Bill eliminates insurance companies from QC program - KUAM.com-KUAM News: On Air. Online. On Demand.

Bill eliminates insurance companies from QC program

by Ken Quintanilla

Guam - Following Governor Eddie Calvo's call on the Legislature to remove insurance companies from being eligible for the Guam Economic Development Authority's Qualifying Certificate Program, Senator Rory Respicio has introduced legislation to do just that. Bill 167 also takes it one step further by immediately suspending and revoking existing QCs granted to insurance companies.

"So based on the Public Auditor's report," he said, "this will certainly translate into millions of dollars which we can then use to fulfill some of the needs of the government particularly those lingering obligations the law enforcement pay raise due to them as well as the merit bonuses and other areas in health, education and public safety."

Respicio anticipates there will be challenges with passage of the legislation. He adds he appreciated the governor's challenge and looks forward to his support on his bill.

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