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Assembly Bill A2676

2015-2016 Legislative Session

Provides that assessments of self-insurers for the special disability fund shall be based on 110%, rather than 150%, of total disbursements

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Archive: Last Bill Status - In Assembly Committee

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2015-A2676 (ACTIVE) - Details

Current Committee:
Assembly Labor
Law Section:
Workers' Compensation Law
Laws Affected:
Amd ยง15, Work Comp L
Versions Introduced in Other Legislative Sessions:
2009-2010: A11205
2011-2012: A2673
2013-2014: A786

2015-A2676 (ACTIVE) - Summary

Provides that assessments of self-insurers, the state insurance fund, and all insurance carriers for the workers' compensation special disability fund shall be based on 110%, rather than 150%, of total disbursements from the fund during the preceding calendar year, less the amount of the fund's net assets as of December 31st of such preceding calendar year.

2015-A2676 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2676

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 20, 2015
                               ___________

Introduced by M. of A. WEPRIN -- read once and referred to the Committee
  on Labor

AN  ACT  to  amend  the  workers'  compensation  law, in relation to the
  assessment upon self-insurers,  the  state  insurance  fund,  and  all
  insurance carriers to fund the special disability fund

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subparagraph 3 of paragraph (h) of subdivision 8 of section
15 of the workers' compensation law, as amended by section 8 of part  GG
of chapter 57 of the laws of 2013, is amended to read as follows:
  (3)  Effective  the  first  day of January, two thousand fourteen, and
annually thereafter, the chair of  the  board  shall  collect  from  all
affected employers (A) a sum equal to one hundred [fifty] TEN per centum
of  the  total  expected  disbursements made from the special disability
fund during the year (not including any disbursements made on account of
anticipated liabilities or waiver agreements funded by bond proceeds and
related earnings), less the estimated amount of the net assets  in  such
fund  expected  as  of December thirty-first and (B) a sum sufficient to
cover debt service, and associated costs (the "debt service assessment")
to be paid during the calendar  year  by  the  dormitory  authority,  as
calculated  in accordance with subparagraph four of this paragraph. Such
assessments shall be included in the assessment rate established  pursu-
ant to subdivision two of section one hundred fifty-one of this chapter.
Such  assessments  shall  be deposited with the commissioner of taxation
and finance and transferred  to  the  benefit  of  such  fund  following
payment  of  debt  service  and  associated  costs,  if any, pursuant to
section one hundred fifty-one of this chapter.
  S 2. This act shall take effect January 1, 2016.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07498-01-5

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