South Carolina General Assembly
115th Session, 2003-2004

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H. 4994

STATUS INFORMATION

General Bill
Sponsors: Rep. Bowers
Document Path: l:\council\bills\gjk\21042sd04.doc

Introduced in the House on March 18, 2004
Currently residing in the House Committee on Labor, Commerce and Industry

Summary: Workers' compensation rates

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   3/18/2004  House   Introduced and read first time HJ-28
   3/18/2004  House   Referred to Committee on Labor, Commerce and Industry 
                        HJ-28

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

3/18/2004

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 42-5-85 SO AS TO PROVIDE THAT NEW BUSINESSES MUST BE ASSESSED THE LOWEST RATE FOR WORKERS' COMPENSATION INSURANCE IN THEIR CLASSIFICATION UNTIL THE CLAIMS EXPERIENCE OF THE NEW BUSINESS PROVIDES JUSTIFICATION FOR HIGHER RATES.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    The 1976 Code is amended by adding:

"Section 42-5-85.    Upon application for insurance required by this title by a newly formed business, the insurer must offer the insurance to the new business at the lowest rate for which workers' compensation insurance for a business of its type and within its classification is written. The new business is entitled to continue the insurance and to renew the insurance at the same rate until its claims experience justifies an increase in the rates charged for the insurance."

SECTION    2.    This act takes effect upon approval by the Governor.

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