SENATE AMENDMENT

    Bill No. CS for SB 2532

    Amendment No.    

                            CHAMBER ACTION
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11  Senator Thomas moved the following amendment:

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13         Senate Amendment 

14         On page 3, line 26, through page 5, line 21, delete

15  those lines

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17  and insert:

18         (a)  The division shall, by July 1 of as soon as

19  practicable after July 1 in each year, notify carriers and

20  self-insurers of the assessment rate, which shall be based on

21  determine the anticipated expenses expense of the

22  administration of this chapter for the next calendar preceding

23  fiscal year. Such assessment rate shall take effect January 1

24  of the next calendar year and shall be included in workers'

25  compensation rate filings approved by the Department of

26  Insurance which become effective on or after January 1 of the

27  next calendar year. Assessments shall become due and be paid

28  quarterly. The expense of administration for such preceding

29  fiscal year shall be used as the basis for determining the

30  amount to be assessed against each carrier in order to provide

31  for the expenses of the administration of this chapter for the

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    4:31 PM   05/03/00                               s2532.bi03.1a




                                                  SENATE AMENDMENT

    Bill No. CS for SB 2532

    Amendment No.    





 1  current fiscal year.

 2         (b)  The total expenses of administration shall be

 3  prorated among the carriers insurance companies writing

 4  compensation insurance in the state and self-insurers.  The

 5  net premiums collected by carriers the companies and the

 6  amount of premiums calculated by the division for self-insured

 7  employers a self-insurer would have to pay if insured are the

 8  basis for computing the amount to be assessed. When reporting

 9  deductible policy premium for purposes of computing

10  assessments levied after July 1, 2001, full policy premium

11  value must be reported prior to application of deductible

12  discounts or credits.  This amount may be assessed as a

13  specific amount or as a percentage of net premiums payable as

14  the division may direct, provided such amount so assessed

15  shall not exceed 2.75 4 percent, beginning January 1, 2001,

16  except during the interim period from July 1, 2000, through

17  December 31, 2000, such assessments shall not exceed 4 percent

18  of such net premiums.  The carriers insurance companies may

19  elect to make the payments required under s. 440.15(1)(f) s.

20  440.15(1)(e) rather than having these payments made by the

21  division.  In that event, such payments will be credited to

22  the carriers insurance companies, and the amount due by the

23  carrier insurance company under this section will be reduced

24  accordingly.

25         (2)  The division shall provide by regulation for the

26  collection of the amounts assessed against each carrier.  Such

27  amounts shall be paid within 30 days from the date that notice

28  is served upon such carrier.  If such amounts are not paid

29  within such period, there may be assessed for each 30 days the

30  amount so assessed remains unpaid, a civil penalty equal to 10

31  percent of the amount so unpaid, which shall be collected at

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    4:31 PM   05/03/00                               s2532.bi03.1a




                                                  SENATE AMENDMENT

    Bill No. CS for SB 2532

    Amendment No.    





 1  the same time and a part of the amount assessed. For those

 2  carriers who excluded ceded reinsurance premiums from their

 3  assessments prior to January 1, 2000, the division shall not

 4  recover any past underpayments of assessments related to ceded

 5  reinsurance premiums prior to January 1, 2000, against such

 6  carriers.

 7         (3)  If any carrier fails to pay the amounts assessed

 8  against him or her under the provisions of this section within

 9  60 days from the time such notice is served upon him or her,

10  the Department of Insurance upon being advised by the division

11  may suspend or revoke the authorization to insure compensation

12  in accordance with the procedure in s. 440.38(3)(a). The

13  division may permit a carrier to remit any underpayment of

14  assessments for assessments levied after January 1, 2001.

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    4:31 PM   05/03/00                               s2532.bi03.1a