Fiscal Note
SB0015S01 - Workers' Compensation Premium Assessment and Related Funding
State Impact:
Enactment of this bill will transfer one-time funds of $2,900,000 from the Workplace Safety Account to the Employer Reinsurance Fund in FY 2009. This bill has an on-going appropriation of $150,000 from the Workplace Safety Account to the University of Utah, Rocky Mountain Center for Occupational and Environmental Health. Additionally, this bill establishes a new program, the Eddie P. Mayne Workplace Safety and Occupational Health Funding Program. Additionally, this bill creates the Industrial Accident Account and a new premium assessment.
| Funding Source | FY 2009 Approp. | FY 2010 Approp. | FY 2011 Approp. | FY 2009 Revenue | FY 2010 Revenue | FY 2011 Revenue |
| Restricted Funds | $0 | $0 | $0 | ($2,900,000) | $0 | $0 |
| Restricted Funds | $0 | $150,000 | $150,000 | $2,900,000 | $0 | $0 |
| Restricted Funds | $0 | $0 | $0 | $46,000,000 | $33,000,000 | $24,000,000 |
| Total | $0 | $150,000 | $150,000 | $46,000,000 | $33,000,000 | $24,000,000 |
Individual, Business and/or Local Impact:
Enactment of this bill likely will not result in direct, measurable costs and/or benefits for individuals or local governments. Businesses may be benefit from a reduction in their worker compensation premium assessments.
| 2/2/2009, 9:49:25 AM, Lead Analyst: Schoenfeld, J.D. | Office of the Legislative Fiscal Analyst |