AN ACT TO ACCOUNT FOR INFLATION BY ADJUSTING THE MAXIMUM AMOUNT OF COMPENSATION PERMITTED UNDER THE WORKERS' COMPENSATION ACT FOR THE LOSS OF, OR PERMANENT INJURY TO, ANY IMPORTANT EXTERNAL OR INTERNAL ORGAN AND TO PROVIDE FOR THE ANNUAL ADJUSTMENT OF SAID COMPENSATION IN ACCORDANCE WITH THE CONSUMER PRICE INDEX.
House committee substitute to the 3rd edition deletes all of the provisions of the previous edition and replaces it with the following.
Changes the short and long titles.
Amends GS 97-31(a), concerning the schedule of injuries in regards to workers' compensation, raising the maximum amount payable for the loss of, or permanent injury to, any important external or internal organ or part of the body that does not have a corresponding compensation amount under this subsection to $41,600 (was, $20,000).
Enacts new GS 97-31(b), which provides that the maximum amount payable above must be adjusted on July 1 of each year. Sets out that the adjustment is to be based on the consumer price index from year to year. Provides the formula and processes to adjust the amount, with specified limitations. Directs the revised amount to be published in the NC Register with the dollar amount adjusted in the statutes by the Revisor of Statutes.
Applies to claims arising on or after June 30, 2015.
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