Bill > HB193

This bill modifies the Uninsured Employers' Fund (UEF) by increasing the maximum assessment rate from 1% to 1.5% on workers' compensation awards and settlements when the Fund's Board determines its reserves are insufficient to cover anticipated losses. The bill also introduces a new provision to establish a special monitor who will assess the Fund's financial condition for up to one year, ending on or before June 30, 2026. The monitor will submit an interim report by December 1, 2025, and a final report by June 1, 2026, to the Senate Finance Committee and House Economic Matters Committee, detailing the Fund's financial status and recommending potential legislative or regulatory changes. Additionally, the bill adjusts the Fund's reserve thresholds, raising the suspension point from $5 million to $10 million and the resumption point from $3 million to $8 million. The Fund will allocate $100,000 to support the special monitor's work, and the monitor will be reimbursed at a rate comparable to retired judges hearing Commission cases. The bill is set to take effect on July 1, 2025, with the special monitor provisions automatically expiring on June 30, 2026.

Budget and Finance, Business and Industry

Economic Matters (H)

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0193?ys=2025RS