The bill amends the Worker's Disability Compensation Act of 1969 by creating several funds to support injured workers and their dependents. It establishes a self-insurers' security fund, a second injury fund, a silicosis, dust disease, and logging industry compensation fund, and an uninsured employer's security fund, which will be located in the state treasury. The bill also specifies that the uninsured employer's security fund will succeed to the assets of the former uninsured employer's security account from the workplace health and safety fund. Additionally, it outlines the responsibilities of the trustees managing these funds, including the requirement to pay benefits to injured employees of uninsured employers and to seek reimbursement from those employers for any benefits paid.

Furthermore, the bill includes provisions for the trustees to report annually on claims received, claims approved, and the costs of administering the fund. It mandates that the state treasurer manage the fund's investments and ensures that funds do not lapse at the end of the fiscal year. The bill also introduces penalties for uninsured employers who fail to provide necessary information to the trustees, including potential civil fines. Overall, the legislation aims to enhance the support system for workers injured while employed by uninsured employers and to ensure accountability among those employers.

Statutes affected:
House Introduced Bill: 418.501