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WV HB4628

Relating to authorizing the redirection of amounts collected from certain surcharges and assessments on workers' compensation insurance policies for periods prior to January 1, 2019


summary

Introduced
02/23/2018
In Committee
03/07/2018
Crossed Over
02/28/2018
Passed
03/09/2018
Dead
Signed/Enacted/Adopted
04/17/2018

Introduced Session

2018 Regular Session

Bill Summary

Relating to authorizing the redirection of amounts collected from certain surcharges and assessments on workers' compensation insurance policies for periods prior to January 1, 2019

AI Summary

This bill authorizes the redirection of amounts collected from certain surcharges and assessments on workers' compensation insurance policies for periods prior to January 1, 2019. Specifically, it allows the Governor to redirect a portion of the deposits of the amounts collected from these surcharges and assessments to the General Revenue Fund, rather than to the Workers' Compensation Debt Reduction Fund, until the unfunded liability of the Old Fund (the former workers' compensation system) has been paid or provided for in its entirety. The bill also terminates the assessment of these surcharges after December 31, 2018, but maintains liability for any surcharges assessed prior to that date until they are paid.

Committee Categories

Budget and Finance

Sponsors (9)

Last Action

Chapter 247, Acts, Regular Session, 2018 (on 04/17/2018)

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