Kentucky House Bill 448 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 19 2020 - 25% progression, died in committee
Action: 2020-02-24 - posted in committee
Pending: House Economic Development & Workforce Investment Committee
Text: Latest bill text (Introduced) [PDF]

Amend KRS 342.120 to require the Division of Workers' Compensation Funds to engage in a program to resolve outstanding indemnity liabilities through lump-sum payments beginning January 1, 2021; amend KRS 342.122 to set the special fund assessment rate at no less than 6.29 percent; to cap funding for financing the expenditures for certain programs in the Labor Cabinet; and to reduce the assessment rate to 1 percent for funding the Labor Cabinet through the provisions of KRS 342.122 once the special fund balance has reached a balance sufficient to produce enough revenue to amortize the remaining claims and fund the operations of the Kentucky Workers' Compensation Funding Commission; amend KRS 342.1223 to require the Kentucky Workers' Compensation Funding Commission to produce and submit a biennial financial audit and management review to the Interim Joint Committee on Appropriations and Revenue by December 31 of odd-numbered years; amend KRS 342.1224 to change the membership of the Kentucky Workers' Compensation Funding Commission.

AN ACT relating to payment of outstanding liabilities funded through assessments upon insurance premiums.

Rep. Bart Rowland [R]

Date	Chamber	Action
2020-02-24	House	posted in committee
2020-02-21	House	to Economic Development & Workforce Investment (H)
2020-02-19	House	introduced in House

Type	Source
Summary	https://apps.legislature.ky.gov/record/20RS/hb448.html
Text	https://apps.legislature.ky.gov/recorddocuments/bill/20RS/hb448/orig_bill.pdf