2017 Kentucky Revised Statutes CHAPTER 342 - WORKERS' COMPENSATION .1243 Transfer of the administration, assets, and liabilities of the Kentucky coal workers' pneumoconiosis fund -- Assessments on employers.
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342.1243
Transfer of the administration, assets, and liabilities of the
Kentucky coal workers' pneumoconiosis fund -- Assessments on
employers.
(1)
(2)
(3)
(4)
(5)
(6)
Notwithstanding any provisions of this chapter or any other provisions to the
contrary, the Kentucky coal workers' pneumoconiosis fund shall have no
liability for income benefits for coal workers' pneumoconiosis claims filed or
reopened on or after July 1, 2017.
Notwithstanding any provisions of this chapter or any other provisions to the
contrary, as soon as practically possible after July 1, 2017, all of the assets and
liabilities of the Kentucky coal workers' pneumoconiosis fund shall be
transferred from the Kentucky Workers' Compensation Funding Commission
and Division of Workers' Compensation Funds to the Kentucky Employers'
Mutual Insurance Authority through a loss portfolio transfer agreement. The
Kentucky Employers' Mutual Insurance Authority shall have full authority and
responsibility over the Kentucky coal workers' pneumoconiosis fund's claims
and shall administer the claims as permitted pursuant to KRS Chapter 342.
Notwithstanding the provisions of KRS 342.1242, the Workers' Compensation
Funding Commission shall impose an assessment at an annual rate of fourteen
percent (14%) upon the amount of workers' compensation premiums received
on or after January 1, 2017, through December 31, 2017, by every insurance
carrier writing workers' compensation insurance in the Commonwealth and by
every self-insured group operating under the provisions of KRS 342.350(4) and
KRS Chapter 304, from employers engaged in the severance or processing of
coal. Likewise, on or after January 1, 2017, through December 31, 2017, an
assessment at the rate of fourteen percent (14%) of premium shall be paid by
every employer engaged in the severance or processing of coal who is carrying
his or her own risk.
Notwithstanding the provisions of KRS 342.1242, the Workers' Compensation
Funding Commission shall impose an assessment at an annual rate of fourteen
percent (14%) upon the amount of workers' compensation premiums received
on or after January 1, 2018, through December 31, 2018, by every insurance
carrier writing workers' compensation insurance in the Commonwealth and by
every self-insured group operating under the provisions of KRS 342.350(4) and
Chapter 304, from employers engaged in the severance or processing of coal.
Likewise, on or after January 1, 2018, through December 31, 2018, an
assessment at the rate of fourteen percent (14%) of premium shall be paid by
every employer engaged in the severance or processing of coal who is carrying
his or her own risk.
Notwithstanding the provisions of KRS 342.1242, in addition to the
assessments in subsection (3) and (4) of this section, for the calendar years of
2017 and 2018, an assessment at the rate of fifteen cents ($0.15) per ton shall
be imposed upon the total annual amount of tons of coal severed by every
entity engaged in the severance of coal as required pursuant to KRS Chapter
143.
The assessments imposed by this section shall supersede any assessment
imposed pursuant to KRS 342.1242 for the calendar years of 2017 and 2018.
Any amount paid and collected that exceeds the assessment imposed by this
(7)
(8)
section in calendar year 2017 shall be reimbursed to the employer or credited
to the employer's account subject to the preference of the employer.
Assessments pursuant to this section and KRS 342.1242 that are collected by
the Kentucky Worker's Compensation Funding Commission shall be
transferred to the Kentucky Employers' Mutual Insurance Authority.
When the Kentucky Workers' Compensation Funding Commission and the
Kentucky Employers' Mutual Insurance Authority have determined that the
Kentucky coal workers' pneumoconiosis fund has fully funded its liabilities, then
the authority for imposing assessments pursuant to this section and KRS
342.1242 shall cease to exist, and the Kentucky coal workers' pneumoconiosis
fund shall be abolished. Any remaining assessments received following the
exhaustion of liabilities shall be refunded pro rata to all employers who have
paid an assessment in the year that liabilities are fully funded.
Effective:April 10, 2017
History: Created 2017 Ky. Acts ch. 173, sec. 3, effective April 10, 2017.
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