HB0255 - Workers' compensation-lump sum payments.
2001 |
State of Wyoming |
01LSO-0569 |
HOUSE BILL NO. HB0255
Workers' compensation-lump sum payments.
Sponsored by: Representative(s) Landon
A BILL
for
1 AN ACT relating to
workers' compensation; specifying
2
calculation method for payment of lump sum benefits as
3 specified;
and providing for an effective date.
4
5 Be It Enacted by the Legislature of the State of Wyoming:
6
7 Section 1. W.S. 27-14-403(f) is amended to read:
8
9 27-14-403. Awards generally; method of payment.
10
11 (f) Awards to an
employee or a spouse for permanent
12 partial disability, permanent total
disability or death
13 may, upon application to the division with a
showing of
14 exceptional necessity and notice to the
employer, be paid
15 in whole or in part in a lump sum. In no
event shall an
16 award for permanent partial impairment under
W.S. 27-14-405
17 be paid in a lump sum. Lump sum awards under this section
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1 shall be discounted to their present value as of the date
2 of the award using as a discount
factor the average rate of
3 return of United States treasury
bills.
4
5 Section 2. This act is effective July 1, 2001.
6
7 (END)
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