Pinnacol oversees the state's workers compensation insurance - and is essentially owned by the state.
Its executives spent hundreds of thousands of dollars on golf, dinner, alcohol and massages at Pebble Beach, 9Wants to Know reported in January.
House Minority Leader Sal Pace (D-Pueblo) Tuesday laid out House Bill 1211 to limit travel-related expenses to no more than twice the federal reimbursement amount.
"This company has a market share that is given to it by the laws of Colorado where other insurance companies aren't competing with them and they take this money that is paid in by small businesses and they're abusing it and taxpayer trust," Pace said.
The bill will be heard in the house State, Veterans and Military Affairs Committee on Thursday.
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