MS HB981

Amends Mississippi Code Section 71-3-71 to cap workers' compensation subrogation liens at 75% of amounts recovered by injured employees or dependents from third parties.

Requires deduction of reasonable collection costs before applying recovered amounts to satisfy the employer or insurer's legal liability.

Any recovery amount exceeding 75% of the employer or insurer's liability, after collection costs, belongs to the injured employee or dependents.

Requires injured employees or their representatives to notify the employer or carrier within 15 days of filing suit against a third party.

Effective date: July 1, 2023.