Bill Amendment: FL H0375 | 2014 | Regular Session

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: Insurance

Status: 2014-05-02 - Died in returning Messages [H0375 Detail]

Download: Florida-2014-H0375-Senate_Floor_Amendment_568526_to_Amendment_481316_.html

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       Florida Senate - 2014                          SENATOR AMENDMENT
       Bill No. CS for HB 375
       
       
       
       
       
       
                                Ì568526@Î568526                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                                       .                                
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               Floor: 1b/RE/2R         .                                
             04/24/2014 07:33 PM       .                                
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       Senator Smith moved the following:
       
    1         Senate Amendment to Amendment (481316) (with title
    2  amendment)
    3  
    4         Between lines 4 and 5
    5  insert:
    6         Section 1. Paragraphs (b) and (c) of subsection (9) of
    7  section 440.49, Florida Statutes, are amended to read:
    8         440.49 Limitation of liability for subsequent injury
    9  through Special Disability Trust Fund.—
   10         (9) SPECIAL DISABILITY TRUST FUND.—
   11         (b)1. The Special Disability Trust Fund shall be maintained
   12  by annual assessments upon the insurance companies writing
   13  compensation insurance in this the state, the commercial self
   14  insurers under ss. 624.462 and 624.4621, the assessable mutuals
   15  as defined in s. 628.6011, and the self-insurers under this
   16  chapter, which assessments shall become due and must be paid
   17  quarterly at the same time and in addition to the assessments
   18  provided under in s. 440.51.
   19         1. Pursuant to this paragraph, the department shall
   20  estimate annually estimate in advance the amount necessary for
   21  the administration of this subsection and the maintenance of the
   22  this fund and shall make such assessment in the manner
   23  hereinafter provided. By July 1 of each year, the department
   24  shall calculate the assessment rate, which must be based on the
   25  net premiums written by carriers and self-insurers, the amount
   26  of premiums calculated by the department for self-insured
   27  employers, the sum of the anticipated disbursements and expenses
   28  of the fund for the next calendar year, and the expected fund
   29  balance for the next calendar year. Such assessment rate shall
   30  take effect January 1 of the next calendar year. Such amount
   31  shall be prorated among insurance companies writing workers’
   32  compensation insurance in the state, self-insurers, and self
   33  insured employers.
   34         2. A reimbursement request that has been approved but
   35  remains unpaid as of June 30, 2014, must be paid by October 31,
   36  2014. The annual assessment shall be calculated to produce
   37  during the next calendar year an amount which, when combined
   38  with that part of the balance anticipated to be in the fund on
   39  December 31 of the current calendar year which is in excess of
   40  $100,000, is equal to the average of:
   41         a. The sum of disbursements from the fund during the
   42  immediate past 3 calendar years, and
   43         b. Two times the disbursements of the most recent calendar
   44  year.
   45         c. Such assessment rate shall first apply on a calendar
   46  year basis for the period beginning January 1, 2012, and shall
   47  be included in workers’ compensation rate filings approved by
   48  the office which become effective on or after January 1, 2012.
   49  The assessment rate effective January 1, 2011, shall also apply
   50  to the interim period from July 1, 2011, through December 31,
   51  2011, and shall be included in workers’ compensation rate
   52  filings, whether regular or amended, approved by the office
   53  which become effective on or after July 1, 2011. Thereafter, the
   54  annual assessment rate shall take effect January 1 of the next
   55  calendar year and shall be included in workers’ compensation
   56  rate filings approved by the office which become effective on or
   57  after January 1 of the next calendar year. Assessments shall
   58  become due and be paid quarterly.
   59  
   60  Such amount shall be prorated among the insurance companies
   61  writing compensation insurance in the state and the self
   62  insurers.
   63         3. The net premiums written by the companies for workers’
   64  compensation in this state and the net premium written
   65  applicable to the self-insurers in this state are the basis for
   66  computing the amount to be assessed as a percentage of net
   67  premiums. Such payments shall be made by each carrier and self
   68  insurer to the department for the Special Disability Trust Fund
   69  in accordance with such regulations as the department
   70  prescribes.
   71         3.4. The Chief Financial Officer is authorized to receive
   72  and shall credit to the such Special Disability Trust fund any
   73  sum or sums that may at any time be contributed to the state by
   74  the United States under an any Act of Congress, or otherwise, to
   75  which the state is may be or become entitled by reason of any
   76  payments made out of the such fund.
   77         (c) Notwithstanding the Special Disability Trust fund
   78  assessment rate calculated pursuant to paragraph (b) this
   79  section, the rate assessed may shall not exceed 2.5 4.52
   80  percent.
   81  
   82  ================= T I T L E  A M E N D M E N T ================
   83  And the title is amended as follows:
   84         Delete line 453
   85  and insert:
   86         An act relating to insurance; amending s. 440.49,
   87         F.S.; revising the methodology for calculating the
   88         assessment rate against specified insurers for funding
   89         the Special Disability Trust Fund; reducing the upper
   90         limit on the rate; amending s. 624.425,