SB 14-120 Summary

• Establishes continuous appropriation of moneys in the state employee workers' compensation account within the risk management fund for workers' compensation self-insurance and commercial insurance purposes.

• Exempts direct and indirect administrative costs (legal services, litigation expenses, third-party administrator expenses) from continuous appropriation, requiring the General Assembly to make separate annual appropriations for these costs.

• Requires all unexpended and unencumbered moneys remaining in the account at fiscal year end to remain in the account and prohibits transfer to the general fund or other funds.

• Credits all interest earned from investment of account moneys to the account rather than elsewhere.

• Requires the state treasurer to transfer $10,316,060 from the workers' compensation account to the general fund on June 1, 2009.