Workers' compensation-professional athletes.

03LSO-0201.C2

                                                         

FISCAL NOTE (SF0025)

 

 

 

FY 2004

FY 2005

FY 2006

NON-ADMINISTRATIVE IMPACT

 

 

 

Anticipated Revenue Increase(Decrease):

 

 

 

WORKERS COMPENSATION FUND

23,216

26,330

29,846

 

 

 

 

 

Source of revenue increase:

 

Workers’ Compensation Taxes

 

 

Assumptions:

 

At the current time, this bill would provide workers’ compensation coverage for one employer in Wyoming.  It will provide coverage to 25 athletes, working six months each year.  The annual statewide average wage is estimated at $28,013, $29,134 and $30,300 in FY04-FY06 (assumes a 4% annual increase).  The base tax rate for this industry is estimated at 6.63%, 7.23% and 7.88% in FY04-FY06 (assumes a 9% annual increase).

 

 

 

FY 2004

FY 2005

FY 2006

NON-ADMINISTRATIVE IMPACT

 

 

 

Anticipated Expenditure Increase (Decrease):

 

 

 

WORKERS COMPENSATION FUND

24,015

26,176

28,532

 

 

Source of Expenditure Increase:

 

Claims paid from the Workers Compensation Fund

 

Assumptions:

 

FY04 costs are based on a two-year average of medical costs incurred by the employer that will be covered with this bill.  FY05 and FY06 increases assume a 9% increase in costs each year.

 

 

Prepared by:

Beth Nelson, Dept of Employment

Phone:

777-6402