342.1243 Transfer of the administration, assets, and liabilities of the Kentucky coal
652 words·~3 min read·
/ky/342-1243A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
workers' pneumoconiosis fund -- Assessments on employers -- Abolition of
fund.
(1)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.
(2)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.
(3)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.
(4)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.
(5)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.
(6)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 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.
(7)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.
(8)When the Kentucky Workers' Compensation Funding Commission and the
Kentucky Employers' Mutual Insurance Authority have determined final audits are
closed and the liability of the fund is fully funded, then the authority for imposing
assessment rates pursuant to this section and KRS 342.1242 shall cease to exist.
When all distributions pursuant to KRS 342.1242(8) have been completed, the
Kentucky coal workers' pneumoconiosis fund shall be abolished. Any funds
collected, following the abolition of the Kentucky coal workers' pneumoconiosis
fund, from subrogation or otherwise, after the final distribution shall be transferred
to the Kentucky coal employers self-insurance guaranty fund.