Montana Lawmakers Add Tax to Workers’ Comp Bill

 Thursday, May 5, 2011

 Insurance Journal

On the last day of the Montana legislative session, lawmakers added a 2.75 percent premium tax on insurance sold by the Montana State Fund to pay for continuing claims for workers injured before July 1990. The new fee takes effect on July 1. The proceeds will be used to pay down the costs of the so-called “Old Fund,” which still has an estimated liability of $50 million. The 2011 Legislature passed a bill to decrease workers’ comp premiums for businesses but also had to develop a way to repay money the state borrowed from the “old fund” account to balance the budget eight years ago.
Workers' CompensationLegislation & Regulation