Industrial Accident Restricted Account.

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  • (1) As used in this section:
    • (a) "Account" means the Industrial Accident Restricted Account created by this section.
    • (b) "Advisory council" means the state workers' compensation advisory council created under Section 34A-2-107.
  • (2) There is created in the General Fund a restricted account known as the "Industrial Accident Restricted Account."
  • (3)
    • (a) The account is funded from:
      • (i) .5% of the premium income remitted to the state treasurer and credited to the account pursuant to Subsection 59-9-101(2)(c)(iv); and
      • (ii) amounts deposited under Section 34A-2-1003.
    • (b) If the balance in the account exceeds $500,000 at the close of a fiscal year, the excess shall be transferred to the Uninsured Employers' Fund created under Section 34A-2-704.
  • (4)
    • (a) From money appropriated by the Legislature from the account to the commission and subject to the requirements of this section, the commission may fund:
      • (i) the activities of the Division of Industrial Accidents described in Section 34A-1-202;
      • (ii) the activities of the Division of Adjudication described in Section 34A-1-202;
      • (iii) the activities of the commission described in Section 34A-2-1005; and
      • (iv) the activities of the commission described in Subsection 34A-2-107(7)(c), up to $50,000 for each of the three reports described in Subsection 34A-2-107(7)(b).
    • (b) The money deposited in the account may not be used for a purpose other than a purpose described in this Subsection (4), including an administrative cost or another activity of the commission unrelated to the account.
  • (5)
    • (a) Each year before the public hearing required by Subsection 59-9-101(2)(d)(i), the commission shall report to the advisory council regarding:
      • (i) the commission's budget request to the governor for the next fiscal year related to:
        • (A) the Division of Industrial Accidents; and
        • (B) the Division of Adjudication;
      • (ii) the expenditures of the commission for the fiscal year in which the commission is reporting related to:
        • (A) the Division of Industrial Accidents; and
        • (B) the Division of Adjudication;
      • (iii) revenues generated from the premium assessment under Section 59-9-101 on an admitted insurer writing workers' compensation insurance in this state and on a self-insured employer under Section 34A-2-202; and
      • (iv) money deposited under Section 34A-2-1003.
    • (b) The commission shall annually report to the governor and the Legislature regarding:
      • (i) the use of the money appropriated to the commission under this section;
      • (ii) revenues generated from the premium assessment under Section 59-9-101 on an admitted insurer writing workers' compensation insurance in this state and on a self-insured employer under Section 34A-2-202; and
      • (iii) money deposited under Section 34A-2-1003.





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