SB1498 proposes amendments to section 23-1023 of the Arizona Revised Statutes, which pertains to workers' compensation. The bill seeks to redefine the term "amount actually collectable" in the context of a third-party liability claim. Under the current law, this amount is the total recovery minus reasonable and necessary expenses, including attorney fees, actually expended in securing the recovery. The proposed bill would specify that "amount actually collectable" means the total recovery minus reasonable and necessary expenses, and explicitly includes attorney fees actually expended in securing the recovery.

Additionally, the bill introduces a definition for "total recovery," which is described as the portion of the settlement, judgment, or award that represents payment to the employee for past and future medical expenses and past and future lost wages. The bill also makes technical and conforming changes and is set to become effective on the general effective date.

Statutes affected:
Introduced Version: 23-1023