OK
Oklahoma Senate Bill SB703

Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB703 Compare Versions

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327
4-An Act
5-ENROLLED SENATE
6-BILL NO. 703 By: Murdock of the Senate
28+STATE OF OKLAHOMA
29+
30+1st Session of the 59th Legislature (2023)
31+
32+CONFERENCE COMMITTEE SUBSTITUTE
33+FOR ENGROSSED
34+SENATE BILL 703 By: Murdock of the Senate
735
836 and
937
1038 Newton of the House
1139
1240
1341
42+CONFERENCE COMMITTEE SUBSTITUTE
1443
1544 An Act relating to the Administrative Workers’
1645 Compensation Act; amending 85A O.S. 2021, Section
1746 122, which relates to costs of administering act;
1847 modifying requirements for payments from Multiple
1948 Injury Trust Fund; modifying payment amounts;
2049 updating statutory reference; provi ding an effective
2150 date; and declaring an emergency .
2251
2352
2453
25-
26-SUBJECT: Workers’ compensation
27-
2854 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
29-
3055 SECTION 1. AMENDATORY 85A O.S. 2021, Section 122, is
3156 amended to read as follows:
32-
3357 Section 122. A. The Workers’ Compensation Commission Revolving
3458 Fund established by Section 28.1 of t his title shall be used for the
3559 costs of administering this act the Administrative Workers ’
3660 Compensation Act and for other purposes as aut horized by law.
37-
3861 B. For the purpose of providing funds for the Workers’
3962 Compensation Commission Revolving Fund, for the Workers’
4063 Compensation Administrative Fund c reated in Section 401.1 of this
4164 title, for the Multiple Injury Trust Fund created in Section 28 of
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4291 this title, and to fund other provisions within this title, the
4392 following tax rates shall apply:
44-
4593 1. Each mutual or interinsurance association, stock company ,
4694 CompSource Mutual Insurance Company or other insurance carrier
47-
48-ENR. S. B. NO. 703 Page 2
4995 writing workers’ compensation insurance in this state shall pay to
5096 the Oklahoma Tax Commission an assessment at a rate of one percent
5197 (1%) of all gross direct premiums written during each qua rter of the
5298 calendar year for workers’ compensation insurance on risks located
5399 in this state after deducting from such gross direct premiums,
54100 return premiums, unabsorbed portions of any deposit premiums, polic y
55101 dividends, safety refunds, savings and other similar returns paid or
56102 credited to policyholders. Such payments to the Tax Commission
57103 shall be made not later than the fifteenth day of the month
58104 following the close of each quarter of the calendar year in w hich
59105 such gross direct premium is collected or collectible.
60106 Contributions made by insurance carriers and CompSource Mutual
61107 Insurance Company, under the provisions of this section, shall be
62108 considered for the purpose of computing workers ’ compensation rates;
63109 and
64-
65110 2. When an employer is authorized to be come a self-insurer, the
66111 Commission shall so notify the Tax Commission, giving the effecti ve
67112 date of such authorization. The Tax Commission shall then assess
68113 and collect from the employers carrying their own risk an assessment
69114 at the rate of two percent ( 2%) of the total compensation for
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70141 permanent total disability awards, permanent partial dis ability
71142 awards and death benefits paid out during each quarter of the
72143 calendar year by the employers. Such assessment shall be payable by
73144 the employers and collected by the Tax Commission according to the
74145 provisions of this section regarding payment and c ollection of the
75146 assessment created in paragraph 1 of this subsection.
76-
77147 C. It shall be the duty of the Tax Commission to collect the
78148 payments provided for in this tit le. The Tax Commission is hereby
79149 authorized to bring an action for the recovery of any d elinquent or
80150 unpaid payments required in this section. The Tax Commission may
81151 also enforce payments by proceeding in ac cordance with the
82152 provisions of Section 98 of t his title.
83-
84153 D. The Tax Commission shall pay monthly to the State Treasurer
85154 to the credit of the Multiple Injury Trust Fund all monies collected
86155 under the provisions of this section less the annual amounts whic h
87156 shall be apportioned by the Oklahoma Tax Comm ission as follows:
88-
89157 1. Five Million Dollars ($5,000,000.00) Five Million Five
90158 Hundred Thousand Dollars ($5,500,000.00) shall be payable each
91-
92-ENR. S. B. NO. 703 Page 3
93159 fiscal year in equal monthly installments to the credit of the
94160 Workers’ Compensation Commission Revolving Fund established in
95161 Section 28.1 of this title for the fiscal year ending June 30, 20 16,
96162 Three Million Dollars ($3,000,000.00) for the fiscal year ending
97163 June 30, 2017, and Four Million Dollars ($4,000,000.00) for the
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98190 fiscal year ending June 30, 2020, and for all subsequent years to be
99191 used to implement the provisions of this title; and
100-
101192 2. Four Million Dollars ($4,000,000.00) shall be payable in
102193 equal monthly installments to the credit of the Workers’
103194 Compensation Administrative Fund established in Section 401.1 of
104195 this title for the fiscal ye ar ending June 30, 2016, Three Million
105196 Five Hundred Thousand Dollars ($3,500,000.00) for the fiscal year
106197 ending June 30, 2017, Three Million Five Hundred Thousand Dollars
107198 ($3,500,000.00) for the fiscal year ending June 30, 2018, Three
108199 Million Dollars ($3,0 00,000.00) for the fiscal year ending June 30,
109200 2019, One Million Seven Hundred Fifty Thousand Dollars
110201 ($1,750,000.00) for the fiscal year ending June 30, 2020, One
111202 Million Seven Hundred Fifty Thousand Dollars ($1,750 ,000.00) shall
112203 be payable in equal monthly installments to the credit of the
113204 Workers’ Compensation Administrat ive Fund established i n Section
114205 401.1 of this title for the fiscal year ending June 30, 2022 June
115206 30, 2023, and for all subsequent years dur ing the existence of the
116207 Court of Existing Claims and Two Hundred Fifty Thousand Doll ars
117208 ($250,000.00) payable in equal monthly installments to the fund for
118209 the fiscal year beginning July 1, 2023, and each subsequent fiscal
119210 year.
120-
121211 In the event that the fund in any one month is insufficient to
122212 make the required paym ents, the unpaid portion shall be paid as soon
123213 as funds become available.
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125240 E. Monies deposited in the Workers’ Compensation Administr ative
126241 Fund shall be used by the Workers’ Compensation Court of Existing
127242 Claims to implement provisio ns provided for in thi s title.
128-
129243 E. F. The refund provisions of Sections 227 through 229 of
130244 Title 68 of the Oklahoma Statutes shall be applicable to any
131245 payments made pursuant to this section. All unencumbered funds
132246 remaining in the Workers ’ Compensation Administrati ve Fund on July
133247 1, 2027, shall be transferred to the State T reasurer to be returned
134248 to the Multiple Injur y Trust Fund.
135-
136-ENR. S. B. NO. 703 Page 4
137-
138249 SECTION 2. This act shall become effective July 1, 2023.
139-
140250 SECTION 3. It being immediately necessary for the preservation
141251 of the public peace, health or safety, an e mergency is hereby
142252 declared to exist, by reason whereof this act shall take effect and
143253 be in full force from and after its passage and approval.
144254
145-
146-ENR. S. B. NO. 703 Page 5
147-Passed the Senate the 24th day of May, 2023.
148-
149-
150-
151- Presiding Officer of the Senate
152-
153-
154-Passed the House of Representatives the 25th day of May, 2023.
155-
156-
157-
158- Presiding Officer of the House
159- of Representatives
160-
161-OFFICE OF THE GOVERNOR
162-Received by the Office of the Governor this ____________________
163-day of _________________ __, 20_______, at _______ o'clock _______ M.
164-By: _______________________________ __
165-Approved by the Governor of the State of Oklahoma this _____ ____
166-day of _________________ __, 20_______, at _______ o'clock _______ M.
167-
168- _________________________________
169- Governor of the State of Oklahoma
170-
171-
172-OFFICE OF THE SECRETARY OF STATE
173-Received by the Office of the Secretary of State this _______ ___
174-day of __________________, 20 _______, at _______ o'clock _______ M.
175-By: _______________________________ __
255+59-1-2217 RD 5/22/2023 2:40:59 PM