| SB 0714 | Changes interest calculations for workers' compensation payments |
| Sponsor: | Schneider | |||
| LR Number: | 2995S.02I | Fiscal Note: | 2995-02 | |
| Committee: | Labor and Industrial Relations | |||
| Last Action: | 02/01/00 - Hearing Conducted S Labor & Industrial Relations | Journal page: | ||
| Committee | ||||
| Title: | ||||
| Effective Date: | August 28, 2000 | |||
SB 714 - 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 ten days after the due date. Current law allows thirty days until a payment is late, and provides for interest after the thirty day period.
The act provides for annual review of the interest rate on late payments based on an economic price index.
This act is similar to SB 111 (1999).
DAVID VALENTINE