71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
HA to HB 3980
LC 4256/HB 3980-9
HOUSE AMENDMENTS TO
HOUSE BILL 3980
By COMMITTEE ON SMART GROWTH AND COMMERCE
May 16
On page 1 of the printed bill, line 3, delete '656.605' and
insert '656.632'.
Delete lines 7 through 14 and insert:
' Whereas a recently released analysis of the financial
incentives in Oregon's workers' compensation insurance market
raises significant concerns about the competitiveness of the
Oregon workers' compensation market; now, therefore,'.
In line 17, delete 'six' and insert 'seven'.
After line 21, insert:
' (d) The chairperson of the board of directors of the State
Accident Insurance Fund Corporation.'.
In line 22, delete '(d)' and insert '(e)'.
In line 26, after 'accountant' insert 'with actuarial
experience'.
On page 2, delete lines 13 through 18.
In line 19, delete '4' and insert '3' and delete '(1)'.
In line 22, delete '(a)' and insert '(1)'.
In line 24, delete '(b)' and insert '(2)'.
In line 26, delete '(c)' and insert '(3)'.
In line 27, delete '(d)' and insert '(4)'.
Delete lines 29 through 45.
On page 3, delete lines 1 through 20.
In line 21, delete '5' and insert '4'.
In line 27, after 'Society' insert a comma.
Delete lines 39 and 40 and insert 'determined by the Director
of the Department of Consumer and Business Services, in
consultation with the commission, that is consistent with
discount rates generally applied by insurers authorized to
underwrite workers' compensation insurance in Oregon.'.
On page 4, line 3, after 'review' delete the rest of the line
and line 4.
In line 5, delete 'tion 3 of this 2001 Act'.
In line 8, delete '6' and insert '5'.
In lines 19 through 21, delete the boldfaced material.
Delete lines 26 through 45.
On page 5, delete lines 1 through 11 and insert:
' { + SECTION 6. + } ORS 656.526, as amended by section 5 of
this 2001 Act, is amended to read:
' 656.526. (1) Periodically, the State Accident Insurance Fund
Corporation shall determine the total liability existing against
the Industrial Accident Fund.
' (2) If, after the determination required by subsection (1) of
this section, the State Accident Insurance Fund Corporation finds
the Industrial Accident Fund, aside from the reserves { - and
surplus - } deemed actuarially necessary according to recognized
insurance principles, contains { - an additional - } { +
a + } surplus { + + } { - subject to legislative disposition
as described in ORS 656.634 (2) - } , the State Accident
Insurance Fund Corporation in its discretion may, after providing
for any payments to the state, taxes or other dispositions of
surplus provided by law, declare a dividend { - from such
additional surplus - } to be paid to, or credited to the
accounts of, employers who were insured by the State Accident
Insurance Fund Corporation during all or part of the period for
which the dividend is declared. Any dividend so declared shall
give due consideration to the solvency of the Industrial Accident
Fund, not be unfairly discriminatory and not be promised in
advance of such declaration.
' (3) An employer in default when the dividend is declared
shall not be eligible to receive payment or the credit provided
by subsection (2) of this section.
' { + SECTION 7. + } ORS 656.632 is amended to read:
' 656.632. (1) The Industrial Accident Fund is continued. This
fund shall be held by the State Treasurer and by the State
Treasurer deposited in such banks as are authorized to receive
deposits of general funds of the state.
' (2) All moneys received by the State Accident Insurance Fund
Corporation under this chapter, shall be paid forthwith to the
State Treasurer and shall become a part of the Industrial
Accident Fund. However, any assessments collected for the
Director of the Department of Consumer and Business Services
under this chapter and deposited in the Industrial Accident Fund
may thereafter be transferred to the director and deposited in
the Consumer and Business Services Fund.
' (3) All payments authorized to be made by the State Accident
Insurance Fund Corporation by this chapter, including all
salaries, clerk hire and all other expenses, shall be made from
the Industrial Accident Fund.
' { + (4) The State Treasurer shall be reimbursed from the
Industrial Accident Fund for all actual and necessary expenses of
the Examination and Accountability Commission paid by the State
Treasurer as required under section 1 of this 2001 Act. + }
' { + SECTION 8. + } ORS 656.632, as amended by section 7 of
this 2001 Act, is amended to read:
' 656.632. (1) The Industrial Accident Fund is continued. This
fund shall be held by the State Treasurer and by the State
Treasurer deposited in such banks as are authorized to receive
deposits of general funds of the state.
' (2) All moneys received by the State Accident Insurance Fund
Corporation under this chapter, shall be paid forthwith to the
State Treasurer and shall become a part of the Industrial
Accident Fund. However, any assessments collected for the
Director of the Department of Consumer and Business Services
under this chapter and deposited in the Industrial Accident Fund
may thereafter be transferred to the director and deposited in
the Consumer and Business Services Fund.
' (3) All payments authorized to be made by the State Accident
Insurance Fund Corporation by this chapter, including all
salaries, clerk hire and all other expenses, shall be made from
the Industrial Accident Fund.
' { - (4) The State Treasurer shall be reimbursed from the
Industrial Accident Fund for all actual and necessary expenses of
the Examination and Accountability Commission paid by the State
Treasurer as required under section 1 of this 2001 Act. - }
' { + SECTION 9. + } { + The amendments to ORS 656.526 and
656.632 by sections 6 and 8 of this 2001 Act become operative
January 2, 2008. + }
' { + SECTION 10. + } { + Sections 1, 2, 3 and 4 of this
2001 Act are repealed on January 2, 2008. + } ' .
In line 12, delete '8' and insert '11' and delete '5 ' and
insert '4'.
In line 14, delete '9' and insert '12'.
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