SB 521
Extends the sunset of the 2.5% supplemental surcharge collected by the Division of Workers' Compensation
LR Number:
Last Action:
3/28/2023 - Hearing Conducted S Insurance and Banking Committee
Journal Page:
Effective Date:
August 28, 2023

Current Bill Summary

SB 521 - Under current law, for calendar year 2023, the Director of the Division of Workers' Compensation is required to collect a supplemental surcharge not to exceed 2.5% of the policyholder's or self-insured's workers' compensation net deposits, net premiums, or net assessments for the previous policy year, rounded up to the nearest one-half of a percentage point. This provision expires December 31, 2023. This act extends that expiration date to December 31, 2028 and makes the 2.5% surcharge permanent for that duration, rather than revert to 3%.



No Amendments Found.