(a) For the calendar year 1974 and for each calendar year thereafter, insurers of employers, as defined in § 386-1, shall pay a levy determined by the director which shall be based on a percentage on gross premiums, as defined in section 431:7-202(a), derived from workers’ compensation insurance issued during the prior year in accordance with chapter 386 and chapter 431, if the levying and collecting of such a levy is required pursuant to § 386-152, which levy shall be collected in the same manner as the tax provided for in § 431:7-202 is collected and shall be deposited in the special compensation fund established in § 386-151. This levy shall be in addition to any tax imposed in chapter 431 on gross premiums derived from workers’ compensation insurance.
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Terms Used In Hawaii Revised Statutes 386-153

  • Compensation: means all benefits accorded by this chapter to an employee or the employee's dependents on account of a work injury as defined in this section; it includes medical and rehabilitation benefits, income and indemnity benefits in cases of disability or death, and the allowance for funeral and burial expenses. See Hawaii Revised Statutes 386-1
  • Director: means the director of labor and industrial relations. See Hawaii Revised Statutes 386-1
(b) Notwithstanding subsection (a), from its inception through December 31, 2007, the Hawaii Employers’ Mutual Insurance Company, Inc., shall be exempt from this levy; provided that this exemption shall apply to the first $25,000,000 of written premiums in each calendar year; and provided further that annual written premiums in excess of $25,000,000 shall be subject to this levy at the same rate as other insurers. Any moneys heretofore paid by Hawaii Employers’ Mutual Insurance Company, Inc., to the special compensation fund shall be retained by the special compensation fund to be credited to future levy balances owed by Hawaii Employers’ Mutual Insurance Company, Inc.

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