Bill
Bill > HB3319
OR HB3319
Relating to the authority of the State Accident Insurance Fund Corporation to set premium rates.
summary
Introduced
01/21/2025
01/21/2025
In Committee
01/24/2025
01/24/2025
Crossed Over
Passed
Dead
Introduced Session
2025 Legislative Measures
Bill Summary
The statement includes a measure digest written in compliance with applicable readability standards. Digest: The Act would allow for lower premiums for a type of insurance in some situations. (Flesch Readability Score: 61.8). Permits the State Accident Insurance Fund Corporation to evaluate the risk the corporation has insured for employers during the past three years and reduce the premium the corporation charges the employer to reflect any reductions or mitigations in risk that result from an agreement between the employer and the corporation. Permits the corporation to specify in an agreement with the person that owns a new business or that assumes ownership of an existing business conditions under which the corporation will charge the person a reduced premium rate for a probationary period during which the corporation evaluates the person’s adherence to the terms of the agreement.
AI Summary
This bill enhances the State Accident Insurance Fund Corporation's (SAIF) flexibility in setting workers' compensation insurance premium rates. Specifically, the bill allows SAIF to reduce an employer's premium based on risk reductions achieved through a formal agreement between SAIF and the employer, looking back at the employer's risk profile over the past three years. Additionally, the bill permits SAIF to offer new or recently acquired businesses a reduced premium rate during a probationary period, during which the corporation will evaluate the business's adherence to agreed-upon terms. If the business successfully meets these terms, SAIF can extend the reduced rate; conversely, if the business fails to comply, SAIF can rescind the reduced rate and charge a premium that reflects the corporation's assessment of the business's risk level. This provision aims to incentivize businesses to maintain safe practices and manage workplace risks effectively while providing some initial financial flexibility for new or changing businesses.
Committee Categories
Labor and Employment
Sponsors (1)
Last Action
Referred to Labor and Workplace Standards. (on 01/24/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB3319 |
| Open Government Impact Statement for HB3319 INTRO | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureAnalysisDocument/85154 |
| BillText | https://olis.oregonlegislature.gov/liz/2025R1/Downloads/MeasureDocument/HB3319/Introduced |
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