HB6157 Summary

• Reduces the annual Illinois Workers' Compensation Commission Operations Fund Surcharge from 1.01% to 0.5% effective July 1, 2010, assessed on insurance companies' direct written premiums for workers' compensation coverage.

• Reduces the annual Workers' Compensation Commission Operations Fund Fee from 0.0075% to 0.0035% effective July 1, 2010, assessed on self-insuring employers' annual wages paid in Illinois.

• Eliminates both the surcharge and fee effective July 1, 2011, but allows the Department of Insurance and Commission to continue collecting payments due before that date and to manage delinquencies, penalties, and overpayments.

• Maintains existing provisions for penalties, credit memoranda, deferrals, and enforcement mechanisms for unpaid amounts.

• Effective date: July 1, 2010.