CODING: Words stricken are deletions; words underlined are additions.



                                                  SENATE AMENDMENT

    Bill No. CS for SB 2532, 1st Eng.

    Amendment No. ___

                            CHAMBER ACTION
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11  Senator Horne moved the following amendment:

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13         Senate Amendment (with title amendment) 

14         On page 8, between lines 2 and 3,

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16  insert:

17         Section 6.  Paragraph (a) of subsection (1) of section

18  440.50, Florida Statutes, is amended to read:

19         440.50  Workers' Compensation Administration Trust

20  Fund.--

21         (1)(a)  There is established in the State Treasury a

22  special fund to be known as the "Workers' Compensation

23  Administration Trust Fund" for the purpose of providing for

24  the payment of all expenses in respect to the administration

25  of this chapter, including the vocational rehabilitation of

26  injured employees as provided in s. 440.49 and the payments

27  due under s. 440.15(1)(f), the funding of the fixed

28  administrative expenses of the plan, and the funding of the

29  Bureau of Workers' Compensation Fraud within the Department of

30  Insurance.  Such fund shall be administered by the division.

31         Section 7.  Subsections (13) and (14) are added to

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                                                  SENATE AMENDMENT

    Bill No. CS for SB 2532, 1st Eng.

    Amendment No. ___





  1  section 440.51, Florida Statutes, to read:

  2         440.51  Expenses of administration.--

  3         (13)  As used in s. 440.50 and this section, the term:

  4         (a)  "Plan" means the workers' compensation joint

  5  underwriting plan provided for in s. 627.311(4).

  6         (b)  "Fixed administrative expenses" means the expenses

  7  of the plan, not to exceed $750,000, which are directly

  8  related to the plan's administration but which do not vary in

  9  direct relationship to the amount of premium written by the

10  plan and which do not include loss adjustment premiums.

11         (14)  Before July 1 in each year, the plan shall notify

12  the division of the amount of the plan's gross written

13  premiums for the preceding calendar year. Whenever the plan's

14  gross written premiums reported to the division are less than

15  $30 million, the division shall transfer to the plan, subject

16  to appropriation by the Legislature, an amount not to exceed

17  the plan's fixed administrative expenses for the preceding

18  calendar year.

19         Section 8.  Paragraph (g) of subsection (4) of section

20  627.311, Florida Statutes, is amended to read:

21         627.311  Joint underwriters and joint reinsurers.--

22         (4)

23         (g)  Whenever a deficit exists, the plan shall, within

24  90 days, provide the department with a program to eliminate

25  the deficit within a reasonable time. The deficit may be

26  funded both through increased premiums charged to insureds of

27  the plan for subsequent years, through the use of policyholder

28  surplus attributable to any year, and through assessments on

29  insureds in the plan if the plan uses assessable policies.

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31  (Redesignate subsequent sections.)

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                                                  SENATE AMENDMENT

    Bill No. CS for SB 2532, 1st Eng.

    Amendment No. ___





  1  ================ T I T L E   A M E N D M E N T ===============

  2  And the title is amended as follows:

  3         On page 1, line 18, following the semicolon

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  5  insert:

  6         amending s. 440.50, F.S.; revising the purpose

  7         of the Workers' Compensation Administration

  8         Trust Fund; amending s. 440.51, F.S.; defining

  9         the terms "plan" and "fixed administrative

10         expenses" for purposes of administering the

11         workers' administration program; providing for

12         transfer of funds to the workers' compensation

13         joint underwriting plan, subject to

14         appropriation; amending s. 627.311, F.S.;

15         providing for funding a deficit in the workers'

16         compensation joint underwriting plan through

17         policyholder surplus;

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