In vetoing a bill on tax credits for his state’s hurricane fund, Florida Gov. Rick Scott also axed several other proposals aimed at streamlining the process that employers use to claim an exemption from buying workers’ compensation coverage.
Under current state law, up to three corporate officers and three members of a limited liability company that have at least a 10 percent stake in the company can claim an exemption. These companies must file a notarized application and construction company officers must show proof they own a share of the company in the form of a stock certificate.
As of June 2011, more than 1 million exemptions were on file with the state, a number that has dropped due to economic conditions. In fiscal year 2010-2011, construction industry exemption applications dropped 9 percent and non-construction exemptions fell 9.6 percent.
The bill would have eliminated those two requirements and allowed employers to file exemption forms electronically. The bill would also have deleted a requirement that regulators publish an annual report on the worker’ compensation market.