Committee Passes Bill to Make Assessments More Precise

A bill that would allow the Division of Workers' Compensation to more precisely calculate annual taxes and surcharge rates is moving through the Missouri General Assembly. The Rules Committee for the state House of Representatives on Thursday unanimously passed HB 2855, which would require assessments and taxes to be rounded to the nearest tenth of a percentage point instead of the nearest half. Under the half-point rounding rule, if an actuarial analysis indicated that an assessment rate of 1.2% was appropriate, the division would have to decide between setting the rate at 1% and riskin...