HB12-1033 Summary

• Amends Colorado Revised Statutes 8-43-304 to restrict the Director of the Division of Workers' Compensation's authority to impose fines for late injury reporting during compliance audits.

• Prohibits the director from imposing fines for late reporting of injuries or occupational diseases when the insurer or self-insured pool lacked notice or knowledge of the injury within a timeframe that would have allowed timely reporting under sections 8-43-101 and 8-43-103.

• Allows the director to impose fines for late reporting only if the director finds the late reporting constituted a knowing or repeated pattern of noncompliance and was not caused by lack of notice or knowledge.

• Takes effect 90 days after final adjournment of the 2012 general assembly (August 8, 2012) unless a referendum petition is filed, in which case approval by voters at the November 2012 general election is required.

• Applies to fines resulting from compliance audits of workers' compensation insurers and self-insured pools on or after the applicable effective date.