HB 5482 Summary

• Amends the Workers' Disability Compensation Act of 1969 to modify administration of the Compensation Supplement Fund by the State Treasurer and director.

• Establishes that insurers and self-insurers not subject to specific tax provisions are entitled to reimbursement from the Compensation Supplement Fund, including the newly added private employer group self-insurers security fund.

• Requires reimbursement applications to be filed within 3 months of when the right to reimbursement accrues, with quarterly payments made without interest and no allowance for periods more than 1 year before application.

• Mandates the director submit an annual report to the governor and legislature by April 1 identifying each insurer and self-insurer receiving reimbursement and amounts paid, and recommend abolishment of the fund once all liabilities are satisfied.

• Makes the act contingent on enactment of House Bills 5478, 5479, 5480, and 5483 during the 97th Legislature.