HB 506 -- Workers' Compensation Funds

Sponsor:  Johnson (47)

This bill:

(1)  Lowers the percentage of the Division of Workers'
Compensation administrative expenses on which the tax rate on
insurers and self-insurers is calculated from 110% to 100%;

(2)  Lowers the percentage of projected payments on which the
surcharge for the Second Injury Fund is calculated from 110% to
100%;

(3)  Requires an audit of the division when the maximum tax rate
for the administrative fund or Second Injury Fund fails to meet
100% of the expenses of the previous year; and

(4)  Requires that if the surcharge for the Second Injury Fund is
not calculated by October 31 of a given year, then the new rate
cannot go into effect less than 60 days from the determination.

Missouri House of Representatives
Last Updated July 25, 2003 at 10:12 am