§ 15220.6. New Self Insurers Fair Share Contribution Surcharge Fee.

(a) The Security Fund shall develop and track an annual historical schedule of cash contributions covering the initial ten years of the alternative security deposit program to build the net worth of the Default Loss Fund. A private self insured employer issued a Certificate to Self Insure after January 1, 2004, shall be surcharged a fair share contribution for the portion of the initial ten years that they did not contribute to the Default Loss Fund. This initial ten-year contribution for new self insurers shall be called the “New Self Insurer Fair Share Contribution Surcharge Fee” and shall be assessed and collected as a surcharge in addition to any other payment required of that new private self insurer into the Default Loss Fund. The Self Insurers Fair Share Contribution may be calculated as an average over a period of up to ten years.

(b) All funds collected from the New Self Insurer Fair Share Contribution Surcharge Fee shall be subject to the requirements of Section 15220.8.

HISTORY

1. New section filed 5-30-2003 as an emergency; operative 5-30-2003 (Register 2003, No. 22). A Certificate of Compliance must be transmitted to OAL by 9-29-2003 or emergency language will be repealed by operation of law on the following day.

2. Certificate of Compliance as to 5-30-2003 order transmitted to OAL 9-29-2003 and filed 11-12-2003 (Register 2003, No. 46).

Note

Note: Authority cited: Sections 3701.8 and 3702.10, Labor Code. Reference: Section 3701.8, Labor Code.