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