House Bill No. 7046, also known as Public Act No. 25-135, revises the Second Injury Fund by updating definitions and assessment methods for employers. Key insertions include the definition of "tortfeasor" as a third party liable for an employee's injury, and the term "actual" recoveries from tortfeasors, which replaces the previous reference to "third party" tortfeasors. The bill also clarifies that the State Treasurer, in consultation with the Insurance Commissioner, can adopt regulations for assessing employers based on their paid losses, with specific methods for self-insured and insured employers depending on the effective date of their policies.

Additionally, the bill repeals subsections (a) and (b) of section 31-349g of the general statutes and substitutes them with new language that outlines the definitions and assessment criteria for the Second Injury Fund. The assessment for self-insured employers will be based on paid losses, while insured employers will be assessed based on either standard premium or the Second Injury Fund surcharge base, depending on the policy's effective date. The bill aims to ensure a fair allocation of liabilities between self-insured and insured employers while considering the overall impact on the workers' compensation system and the cost of doing business in the state.