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Walker announces fund transfer settlement (UPDATE)
By: Associated Press//July 21, 2011//
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MADISON, Wis. (AP) – The state of Wisconsin has reached an agreement with the Wisconsin Medical Society over the repayment of a fund that was raided in 2007 to help balance the budget.
The agreement signed Wednesday calls for the state to repay the $200 million taken from the fund and pay $34 million in lost earnings and interest by October. That also includes a $691,000 payment for attorneys’ fees to the Medical Society.
The patients’ compensation fund was raided under a bipartisan deal reached with then-Gov. Jim Doyle and the Legislature.
The Medical Society argued that taking the money from the fund used to help pay malpractice claims was unconstitutional.
The state Supreme Court agreed a year ago and ordered the repayment.
Money for the repayment was included in the state budget.
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