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SENATE BILL NO. 396
INTRODUCED BY S. BARTLETT
AN ACT REVISING THE STARTING POINT OF THE CREDIT SCALE FOR COMPUTING PREMIUM RATES FOR THE CONSTRUCTION INDUSTRY; AMENDING SECTION 39-71-2211, MCA; AND PROVIDING AN EFFECTIVE DATE AND AN APPLICABILITY DATE.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
Section 1. Section 39-71-2211, MCA, is amended to read:
"39-71-2211. Premium rates for construction industry -- filing required. (1) With respect to each classification of risk in the construction industry under plan No. 2, the advisory organization designated under 33-16-1023 shall file with the commissioner of insurance a method of computing premiums that does not impose a higher insurance premium solely because of an employer's higher rate of wages paid.
(2) The commissioner shall accept a filing under subsection (1) that includes a reasonable method of recognizing
differences in rates of pay. This method must use a credit scale with the starting point set at
one and one-half times 1.168
times the Montana average weekly wage as reported by the department.
(3) The advisory organization shall file a revenue neutral plan for new and renewed policies for prompt and orderly transition to a method of computing premiums that is in compliance with the requirements of this section.
(4) The state compensation insurance fund, plan No. 3, shall adopt the plan filed by the designated advisory organization or adopt a credit scale plan that meets the requirements of this section."
Section 2. Effective date. [This act] is effective July 1, 1999, and applies to premium rates computed for the construction industry beginning July 1, 2000.
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Latest Version of SB 396 (SB0396.ENR)
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