Sec. 1. 39-A MRSA §154, sub-§6, as amended by PL 1999, c. 359, §1, is further amended to read:

6. Assessment levied. The assessments levied under this section may not be designed to produce more than $6,000,000 in revenues annually beginning in the 1995-96 fiscal year, more than $6,600,000 annually beginning in the 1997-98 fiscal year or, more than $6,735,000 beginning in the 1999-00 fiscal year or more than $7,435,000 annually beginning in the 2001-02 fiscal year. Assessments collected that exceed $6,000,000 beginning in the 1995-96 fiscal year, $6,600,000 beginning in the 1997-98 fiscal year or, $6,735,000 beginning in the 1999-00 fiscal year or $7,435,000 beginning in the 2001-02 fiscal year by a margin of more than 10% must be refunded to those who paid the assessment. Any amount collected above the board's allocated budget and within the 10% margin must be used to create a reserve of up to 1/4 of the board's annual budget. Any collected amounts or savings above the allowed reserve must be used to reduce the assessment for the following fiscal year. The board shall determine the assessments prior to May 1st and shall assess each insurance company or association and self-insured employer its pro rata share for expenditures during the fiscal year beginning July 1st. Each self-insured employer shall pay the assessment on or before June 1st. Each insurance company or association shall pay the assessment in accordance with subsection 3.

SUMMARY

This bill increases the Workers' Compensation Board's assessment cap by $700,000 to provide additional funding necessary to maintain the current level of services provided by the board.