Plain English Breakdown
Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.
Permits the State Accident Insurance Fund Corporation to evaluate the risk the corporation has insured for employers during the past three years and reduce the premium the corporation charges the employer to reflect any reductions or mitigations in risk that result from an agreement between the employer and the corporation.
Digest: The Act would allow for lower premiums for a type of insurance in some situations.
What This Bill Does
- Digest: The Act would allow for lower premiums for a type of insurance in some situations.
- (Flesch Readability Score: 61.8).
- Permits the State Accident Insurance Fund Corporation to evaluate the risk the corporation has insured for employers during the past three years and reduce the premium the corporation charges the employer to reflect any reductions or mitigations in risk that result from an agreement between the employer and the corporation.
- Permits the corporation to specify in an agreement with the person that owns a new business or that assumes ownership of an existing business conditions under which the corporation will charge the person a reduced premium rate for a probationary period during which the corporation evaluates the person's adherence to the terms of the agreement.
Limits and Unknowns
- This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.