Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 23, 2012 |
referred to labor |
Senate Bill S7468
2011-2012 Legislative Session
Sponsored By
(R, C, IP, RFM) Senate District
Archive: Last Bill Status - In Senate Committee Labor Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2011-S7468 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9386
- Current Committee:
- Senate Labor
- Law Section:
- Workers' Compensation Law
- Laws Affected:
- Amd §27, Work Comp L
- Versions Introduced in Other Legislative Sessions:
-
2013-2014:
S4587, A1569
2015-2016: S1760
2011-S7468 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7468 TITLE OF BILL: An act to amend the workers' compensation law, in relation to removing the mandatory aggregate trust fund deposit requirements for non-scheduled permanent partial disability cases PURPOSE OR GENERAL IDEA OF BILL: Remove mandatory aggregate trust fund deposit requirements in non-scheduled permanent partial disability cases. SUMMARY OF SPECIFIC PROVISIONS: Section 1: Removes language from Section 27 of the Workers Compensation Law that makes it mandatory for carriers to deposit the present value of a non-scheduled permanent partial disability claim into the aggregate trust fund. Section 2: Provides an effective date, EFFECTS OF PRESENT LAW WHICH THIS BILL WOULD ALTER: Current law mandates a deposit into the aggregate trust fund in permanent partial disability cases. This bill would remove that requirement.
2011-S7468 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7468 I N S E N A T E May 23, 2012 ___________ Introduced by Sen. SEWARD -- read twice and ordered printed, and when printed to be committed to the Committee on Labor AN ACT to amend the workers' compensation law, in relation to removing the mandatory aggregate trust fund deposit requirements for non-sche- duled permanent partial disability cases THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 2 of section 27 of the workers' compensation law, as amended by chapter 6 of the laws of 2007, is amended to read as follows: 2. If an award under this chapter requires payment of death benefits or other compensation by an insurance carrier or employer in periodical payments, the board may, in its discretion, at any time, any provision of this chapter to the contrary notwithstanding, compute and permit or require to be paid into the aggregate trust fund an amount equal to the present value of all unpaid death benefits or other compensation in cases in which awards are made for total permanent or permanent partial disability for a period of one hundred and four weeks or more, for which liability exists, together with such additional sum as the board may deem necessary for a proportionate payment of expenses of administering the fund so created, including the cost of the actuarial computation by or on behalf of the board of the present value of the award, and for the purposes of this section such cases shall be known as discretionary type cases. If any such award made on or after July first, nineteen hundred thirty-five, requires payment for total permanent disability resulting from the loss of both hands, or both arms, or both feet, or both legs, or both eyes, or of any two thereof, or for permanent partial disability resulting from loss of an arm, leg, hand, foot or eye, or of death bene- fits by an insurance carrier which is a stock corporation or mutual association, [or if any such award made on or after July first, two thousand seven requires payment for permanent partial disability under paragraph w of subdivision three of section fifteen of this article by an insurance carrier which is a stock corporation or mutual associ- ation,] which for the purposes of this section shall be known as manda- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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