OK HB2161

Reduces the number of separate funds within the Office of the State Treasurer from three to two by eliminating the "Workers' Compensation Fund" as a separate fund.

Creates two new revolving funds: the "Workers' Compensation Commission Revolving Fund" and the "Workers' Compensation Court of Existing Claims Revolving Fund" to be funded from insurance carrier assessments.

Establishes a 1% assessment on gross direct premiums written by insurance carriers and a 2% assessment on self-insurer disability and death benefits, with 60% of collected revenues going to the Commission Revolving Fund (capped at $5,000,000 per fiscal year) and 40% to the Court Revolving Fund (capped at $4,000,000 per fiscal year).

Allows all fines and penalties assessed under the Administrative Workers' Compensation Act to be deposited into the Workers' Compensation Commission Revolving Fund.

Effective date is July 1, 2015, with an emergency clause allowing immediate implementation upon passage and approval.