HB0255 - Workers' compensation-lump sum payments.

 

2001

State of Wyoming

01LSO-0569

 

 

 

HOUSE BILL NO.  HB0255

 

 

Workers' compensation-lump sum payments.

 

Sponsored by:

 

 

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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