CODING: Words stricken are deletions; words underlined are additions.
SENATE AMENDMENT
Bill No. CS for SB 2532, 1st Eng.
Amendment No. ___
CHAMBER ACTION
Senate House
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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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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.--
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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. ___
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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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