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AR SB13

Bill

Status

Passed

5/24/2016

Primary Sponsor

Greg Standridge

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Origin

Senate

90th General Assembly (2016 Special 3)

AI Summary

  • Reduces workers' compensation tax rates from a maximum of 3% to 1.5% for carriers, self-insured employers, and public employers after the Death and Permanent Total Disability Trust Fund liabilities are fully paid.

  • Establishes June 30, 2019 as the deadline for filing claims against the Death and Permanent Total Disability Trust Fund, regardless of injury date.

  • For injuries before December 31, 2007, the first $75,000 in weekly death or permanent total disability benefits are paid by the employer or carrier; benefits exceeding this amount are paid from the trust fund.

  • For injuries on or after January 1, 2008, employers or carriers pay weekly death or permanent total disability benefits up to 325 times the maximum total disability rate, with additional benefits paid from the trust fund.

  • Terminates the Death and Permanent Total Disability Trust Fund after all liabilities are satisfied, with employers becoming solely liable for death and permanent total disability claims filed after June 30, 2019.

Legislative Description

To Clarify Workers' Compensation Death And Permanent Total Disability Trust Payments Under The Workers' Compensation Law That Resulted From Initiated Measure 1948, No.4; And To Lower Employers' Tax Rate.

Last Action

Notification that SB13 is now Act 5

5/24/2016

Committee Referrals

Insurance and Commerce5/20/2016
Insurance & Commerce5/19/2016

Full Bill Text

No bill text available