Legislature(2023 - 2024)SENATE FINANCE 532
04/17/2024 09:00 AM Senate FINANCE
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| Audio | Topic |
|---|---|
| Start | |
| SB151 | |
| SB259 | |
| SB118 | |
| SB236 | |
| SCR10 | |
| SB183 | |
| SB189 | |
| SB205 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| *+ | HB 268 | TELECONFERENCED | |
| *+ | HB 270 | TELECONFERENCED | |
| + | TELECONFERENCED | ||
| += | SB 151 | TELECONFERENCED | |
| += | SB 259 | TELECONFERENCED | |
| += | SB 118 | TELECONFERENCED | |
| += | SB 236 | TELECONFERENCED | |
| += | SCR 10 | TELECONFERENCED | |
| += | SB 183 | TELECONFERENCED | |
| += | SB 189 | TELECONFERENCED | |
| += | SB 205 | TELECONFERENCED | |
SENATE BILL NO. 183
"An Act relating to the workers' compensation benefits
guaranty fund; and providing for an effective date.
9:37:54 AM
Co-Chair Stedman shared that public testimony had been
taken during the first hearing on the bill on March 6,
2024.
Mr. Alper relayed that there were two issues embedded in
the bill: injured workers and the sweep to the
Constitutional Budget Reserve (CBR). He stated that the CBR
required payback at the end of each year of any money left
in sub funds of the General Fund. Payback could be halted
by a supermajority vote of the legislature. He said that
one of the funds that had been swept back into the CBR
due to lack of a supermajority vote was the Workers
Compensation Benefits Guarantee Fund. He said that the fund
brought in $800,000 per year and was generally penalties
that were charged fines from employers that did not have
adequate workers compensation plans. Those funds then paid
benefits to workers who worked for those companies. He said
that in recent years the fund had been swept and brought to
zero at the beginning of the fiscal year and when a worker
needed compensation there would be no money in the fund,
which meant they would have to wait for penalty funds to
accumulate in order to be compensated.
Mr. Alper furthered that the bill would change the
statutory description of the underlying fund, taking it out
of the General Fund and placing it in the State Treasury so
it would not be subject to the annual sweep.
Co-Chair Stedman added that several funds had been swept
for decades under the constitutional provision. He
explained that the legislature would normally perform a
"reverse sweep which meant the starting balance of the
funds would be replaced at the beginning of each fiscal
year. He said that the bill would assure that the workers
compensation account would have adequate cash flow to help
injured workers.
9:41:26 AM
Senator Bishop
9:41:30 AM
AT EASE
9:41:44 AM
RECONVENED
Senator Bishop appreciated that the intent of the bill was
to assist injured workers.
Senator Bishop MOVED to report SB 183 out of Committee with
individual recommendations and the accompanying fiscal
note. There being NO OBJECTION, it was so ordered.
SB 183 was REPORTED out of committee with four "do pass"
recommendations and with one "no recommendation"
recommendation, and with one previously published zero
fiscal note: FN 1(LWF).