SB 735 – Modifies provisions relating to workers' compensation premiums

• Sponsor: Schatz
• LR Number: 4670S.01I
• Committee: Small Business and Industry
• Last Action: 1/30/2018 - SCS Voted Do Pass S Small Business and Industry Committee (4670S.02C)
• Effective Date: August 28, 2018

Current Bill Summary

SCS/SB 735 - This act stipulates that no workers' compensation insurance policy shall be approved by the Department of Insurance, Financial Institutions, and Professional Registration if, when determining the premium to be paid by an employer, the insurer includes as part of the employer's payroll the following:

• Monetary bonuses, paid by such employer to an employee, of up to three percent of the employee's yearly compensation from such employer; or

• Contributions made by the employer to an employee's individual retirement account.

SCOTT SVAGERA