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House passes workers' compensation premium law to phase down employer tax rates
Summary
The House passed first substitute SB 15 to restructure workers' compensation premium assessments, reduce the employer premium rate over several years, reallocate funds among multiple accounts, and provide targeted funding for workplace safety programs; the bill passed by a recorded unanimous voice vote on the floor.
The Utah House on March 4 passed the first substitute of Senate Bill 15, which changes the state's structure for workers' compensation premium assessments and related funding. Representative Morley, who presented the measure on the floor, described it as the last in a series of consensus workers' compensation bills negotiated with employer and employee representatives.
Representative Morley summarized the fiscal mechanics: the measure phases down the workers' compensation premium tax over several years (the floor description referenced a reduction "from about 8% down to a maximum rate of 1.25" over five years) and reallocates the premium into multiple accounts, including an employer reinsurance fund, an insured/uninsured employers fund, a workplace safety account and an industrial accident restricted account. The sponsor also noted a direct appropriation of $150,000 to the workplace safety account (referred to on the floor in connection with the Rocky Mountain Center for workplace safety) and described expected actuarial paydowns of legacy funds.
The clerk announced passage of the first substitute on the floor with 72 yes and 0 no. Representative Morley said he was available for questions during debate but waived further summation before the vote.
The bill will be returned to the Senate for its consideration per chamber practice.
