Florida Senate - 2014 COMMITTEE AMENDMENT
Bill No. SB 444
Ì188834EÎ188834
LEGISLATIVE ACTION
Senate . House
Comm: RCS .
02/06/2014 .
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recommended the following:
1 Senate Amendment (with title amendment)
2
3 Between lines 211 and 212
4 insert:
5 Section 4. Paragraphs (b) and (c) of subsection (9) of
6 section 440.49, Florida Statutes, are amended to read:
7 440.49 Limitation of liability for subsequent injury
8 through Special Disability Trust Fund.—
9 (9) SPECIAL DISABILITY TRUST FUND.—
10 (b)1. The Special Disability Trust Fund shall be maintained
11 by annual assessments upon the insurance companies writing
12 compensation insurance in the state, the commercial self
13 insurers under ss. 624.462 and 624.4621, the assessable mutuals
14 as defined in s. 628.6011, and the self-insurers under this
15 chapter, which assessments shall become due and be paid
16 quarterly at the same time and in addition to the assessments
17 provided in s. 440.51. Such payments shall be made by each
18 carrier and self-insurer to the department for the Special
19 Disability Trust Fund pursuant to department rule.
20 2. The department shall estimate annually in advance the
21 amount necessary for the administration of this subsection and
22 the maintenance of this fund pursuant to this paragraph and
23 shall make such assessment in the manner hereinafter provided.
24 By July 1 of each year, the department shall calculate the
25 assessment rate, which shall be based upon the net premiums
26 written by carriers, the amount of premiums calculated by the
27 department for self-insured employers, and the anticipated
28 balance and expenses of the Special Disability Trust Fund for
29 the next calendar year. Such assessment rate shall take effect
30 January 1 of the next calendar year. Such amount shall be
31 prorated among the insurance companies writing compensation
32 insurance in the state and the self-insurers.
33 2. The annual assessment shall be calculated to produce
34 during the next calendar year an amount which, when combined
35 with that part of the balance anticipated to be in the fund on
36 December 31 of the current calendar year which is in excess of
37 $100,000, is equal to the average of:
38 a. The sum of disbursements from the fund during the
39 immediate past 3 calendar years, and
40 b. Two times the disbursements of the most recent calendar
41 year.
42 c. Such assessment rate shall first apply on a calendar
43 year basis for the period beginning January 1, 2012, and shall
44 be included in workers’ compensation rate filings approved by
45 the office which become effective on or after January 1, 2012.
46 The assessment rate effective January 1, 2011, shall also apply
47 to the interim period from July 1, 2011, through December 31,
48 2011, and shall be included in workers’ compensation rate
49 filings, whether regular or amended, approved by the office
50 which become effective on or after July 1, 2011. Thereafter, the
51 annual assessment rate shall take effect January 1 of the next
52 calendar year and shall be included in workers’ compensation
53 rate filings approved by the office which become effective on or
54 after January 1 of the next calendar year. Assessments shall
55 become due and be paid quarterly.
56
57 Such amount shall be prorated among the insurance companies
58 writing compensation insurance in the state and the self
59 insurers.
60 3. The net premiums written by the companies for workers’
61 compensation in this state and the net premium written
62 applicable to the self-insurers in this state are the basis for
63 computing the amount to be assessed as a percentage of net
64 premiums. Such payments shall be made by each carrier and self
65 insurer to the department for the Special Disability Trust Fund
66 in accordance with such regulations as the department
67 prescribes.
68 4. The Chief Financial Officer is authorized to receive and
69 credit to such Special Disability Trust Fund any sum or sums
70 that may at any time be contributed to the state by the United
71 States under any Act of Congress, or otherwise, to which the
72 state may be or become entitled by reason of any payments made
73 out of such fund.
74 (c) Notwithstanding the Special Disability Trust Fund
75 assessment rate calculated pursuant to this section, the rate
76 assessed may shall not exceed 2.5 4.52 percent.
77 ================= T I T L E A M E N D M E N T ================
78 And the title is amended as follows:
79 Delete line 10
80 and insert:
81 disability and death; amending s. 440.49, F.S.;
82 revising provisions relating to the assessment rate of
83 the Special Disability Trust Fund; reducing the
84 assessment rate limitation; providing an effective
85 date.