| SB 0982 | Changes interest calculations for worker's compensation payments |
| Sponsor: | Schneider | |||
| LR Number: | S4032.01I | Fiscal Note: | 4032-01 | |
| Committee: | Judiciary | |||
| Last Action: | 03/02/98 - Referred S Judiciary Committee | Journal page: | S310 | |
| Title: | ||||
| Effective Date: | August 28, 1998 | |||
SB 982 - This act changes interest calculations for worker's compensation payments under subsection 3 of Section 287.160, RSMo. Uncontested late payments accrue interest at 10% per annum from the date when due upon being ten days late. Contested payments must be made within ten days after an award of compensation or accrue interest. Current law allows 30 days until a payment is late, and provides for interest after the 30 day period.
The act provides for annual review of the interest rate on
late payments based on an economic price index.
CHARLES HATCHER