Rule 4123-21-09 | Rule to transfer funds from coal-workers pneumoconiosis fund to mining regulation and safety fund.
(A) Pursuant to division (B) of section 4131.03 of the Revised Code, the director of natural resources annually may request the administrator of workers' compensation to transfer a portion of the funds from the net position of the coal-workers pneumoconiosis fund to the mining regulation and safety fund created in section 1513.30 of the Revised Code for the purposes specified in that section.
(B) If the administrator receives a request, the administrator may transfer an amount not to exceed one million dollars on the first day of July or as soon as possible thereafter.
(C) The administrator may transfer a portion of the funds from the net position of the coal-workers' pneumoconiosis fund to the mining regulation and safety fund only if the ratio of assets to liabilities of the coal-workers' pneumoconiosis fund at the time of the request is greater than or equal to 1.5. If such ratio is below 1.5 at the time of the request, the administrator may only the transfer funds to the mining regulation and safety fund after the ratio of assets to liabilities rises above 1.5 and a qualified actuary has determined that this ratio is not likely to fall below 1.5 over an acceptable defined period.
Last updated January 4, 2024 at 9:12 AM
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