This bill creates the Catastrophic Illness in Children Relief Fund, which provides financial assistance to families with children who have a catastrophic illness. The fund covers medical expenses that are not covered by other programs or insurance contracts. The bill also establishes a commission to administer the program and sets out their responsibilities, including determining eligibility criteria and establishing procedures for reimbursement. The bill also authorizes the commission to negotiate or settle claims for reimbursement against families who have received assistance from the fund and have recovered damages in a legal action. The bill also establishes an annual surcharge on employers to provide funding for the fund. The bill requires the commission to report annually on the program and may make recommendations for changes to the law and regulations. The bill takes effect upon passage.