07 LC
37 0286
Senate
Bill 131
By:
Senator Hudgens of the 47th
AS
PASSED
AN
ACT
To
amend Article 9 of Chapter 9 of Title 34 of the Official Code of Georgia
Annotated, relating to the Subsequent Injury Trust Fund, so as to change certain
provisions relating to payment of assessments to the fund by insurers and
self-insurers; to provide for related matters; to provide for an effective date
and intent; to repeal conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Article
9 of Chapter 9 of Title 34 of the Official Code of Georgia Annotated, relating
to the Subsequent Injury Trust Fund, is amended by revising Code Section
34-9-358, relating to payment of assessments to the fund by insurers and
self-insurers, as follows:
"34-9-358.
Each
insurer and self-insurer under this chapter shall, under regulations prescribed
by the board of trustees, make payments to the fund in an amount equal to that
proportion of 175 percent of the total disbursement made from the fund during
the preceding calendar year less the amount of the net assets in the fund as of
December 31 of the preceding calendar year which the total workers´
compensation claims paid by the insurer or self-insurer bears to the total
workers´ compensation claims paid by all insurers and self-insurers during
the preceding calendar year. The administrator is authorized to reduce or
suspend assessments for the fund when a completed actuarial survey shows further
assessments are not needed. An employer who has ceased to be a self-insurer
prior to the end of the calendar year shall be liable to the fund for the
assessment of the calendar year. Such employer who has ceased to be a
self-insurer shall continue to be liable to the fund for assessments in
subsequent calendar years so long as payments are made on any workers´
compensation claims made while in self-insured status. The initial assessment
of each insurer or self-insurer for the purpose of generating revenue to begin
operation of the fund shall be in the amount of one-half of 1 percent of the
workers´ compensation premiums collected by the insurer for the preceding
calendar years from an employer who is subject to this chapter or the equivalent
of such in the case of a self-insurer."
SECTION
2.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval and is intended to authorize the Subsequent
Injury Trust Fund to continue to make assessments against employers who were
formerly self-insured and later obtained workers´ compensation coverage.
It is not intended to authorize assessments for time periods prior to the
effective date of this Act.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.