WILLIAM DONALD SCHAEFER, Governor

H.B. 1618

(I) THE DIFFERENCE BETWEEN THE AMOUNT IN WORKERS'
COMPENSATION AWARDS MADE UNDER THE PROGRAM AND AWARDS THAT
EXPIRED UNDER THE PROGRAM IN THAT SECOND YEAR PRIOR TO THE FISCAL
YEAR FOR WHICH THE BUDGET IS SUBMITTED; AND

(II) THE USE OF CONSISTENT INDEPENDENT ACTUARIAL
ASSUMPTIONS; AND

(3) AN ADDITIONAL AMOUNT SPECIFIED IN THE FOLLOWING
SCHEDULE FOR FISCAL YEARS 1996 THROUGH 2005 TO REDUCE THE ACCUMULATED
ACCRUED LIABILITY UNDER THE WORKERS' COMPENSATION PROGRAM FOR STATE
EMPLOYEES:

FISCAL YEAR	PAYMENT AGAINST
	ACCRUED LIABILITY
1996	$5 MILLION
1997	$5 MILLION
1998	$7 MILLION
1999	$7 MILLION
2000	$9 MILLION
2001	$10 MILLION
2002	$11 MILLION
2003	$12 MILLION
2004	$13 MILLION
2005	$15 MILLION

(C) (1) THERE IS A WORKERS' COMPENSATION TRUST FUND FOR THE
BENEFIT OF STATE EMPLOYEES.

(2)      THE FUND IS ESTABLISHED TO RETAIN ALL APPROPRIATIONS AND
COLLECTIONS FROM AGENCIES REQUIRED UNDER SUBSECTION (B) OF THIS
SECTION AND ANY RELATED INTEREST EARNINGS.

(3)      THE MONEYS IN THE FUND SHALL BE USED ONLY TO PAY ALL
WORKERS' COMPENSATION CLAIMS FOR STATE EMPLOYEES, INCLUDING ANY
ADMINISTRATIVE COSTS RELATING TO THE CLAIMS.

(4)      MONEYS MAY BE TRANSFERRED FROM THE FUND ONLY AS
SPECIFICALLY AUTHORIZED IN THE STATE BUDGET BILL AS ENACTED AND ARE
NOT SUBJECT TO TRANSFER BY BUDGET AMENDMENT.

(5)      THE STATE TREASURER SHALL HOLD AND THE STATE
COMPTROLLER SHALL SEPARATELY ACCOUNT FOR THE FUND.

(6)      THE FUND IS A CONTINUING NONLAPSING FUND THAT IS NOT
SUBJECT TO THE PROVISIONS OF § 7-302 OF THIS TITLE.

(7) MONEYS IN THE FUND SHALL BE INVESTED AND REINVESTED BY
THE TREASURER IN THE SAME MANNER AS OTHER STATE FUNDS AND ANY
INVESTMENT EARNINGS SHALL BE CREDITED TO THE FUND.

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