(c) Whenever the board determines under the procedures set forth in subsection (d) that an assessment is necessary to ensure that fund beneficiaries, including applicants under section 4(f) of this chapter, continue to receive compensation in a timely manner for a reasonable prospective period, the board shall send notice not later than November 1 in any year to:

1. (1) all insurance carriers and other entities insuring or providing coverage to employers who are or may be liable under this article to pay compensation for personal injuries to or the death of their employees under this article; and

2. (2) each employer carrying the employer's own risk;

   stating that an assessment is necessary. Not later than January 31 of the following year, each entity identified in subdivisions (1) and (2) shall send to the board a statement of total paid losses and premiums (as defined in subsection (d)(4)) paid by employers during the previous calendar year. The board may conduct an assessment under this subsection not more than one (1) time annually. The total amount of the assessment may not exceed two and one-half percent (2.5%) of the total amount of all worker's compensation paid to injured employees or their beneficiaries under IC 22-3-2 through IC 22-3-6 for the calendar year next preceding the due date of such payment. The board shall assess a penalty in the amount of ten percent (10%) of the amount owed if payment is not made under this section within thirty (30) days from the date set by the board. If the amount to the credit of the second injury fund on or before November 1 of any year exceeds one hundred thirty-five percent (135%) of the previous year's disbursements, the assessment allowed under this subsection shall not be assessed or collected during the ensuing year. But when on or before November 1 of any year the amount to the credit of the fund is less than one hundred thirty-five percent (135%) of the previous year's disbursements, the payments of not more than two and one-half percent (2.5%) of the total amount of all worker's compensation paid to injured employees or their beneficiaries under IC 22-3-2 through IC 22-3-6 for the calendar year next preceding that date shall be resumed and paid into the fund. The board may not use an assessment rate greater than twenty-five hundredths of one percent (0.25%) above the amount recommended by the study performed before the assessment.

(d) The board shall assess all employers for the liabilities, including administrative expenses, of the second injury fund. The assessment also must provide for the repayment of all loans made to the second injury fund for the purpose of paying valid claims. The following applies to assessments under this subsection:

1. (1) The portion of the total amount that must be collected from self-insured employers equals:

   1. (A) the total amount of the assessment as determined by the board; multiplied by

   2. (B) the quotient of:

      1. (i) the total paid losses on behalf of all self-insured employers during the preceding calendar year; divided by
      2. (ii) the total paid losses on behalf of all self-insured employers and insured employers during the preceding calendar year.

2. (2) The portion of the total amount that must be collected from insured employers equals:

   1. (A) the total amount of the assessment as determined by the board; multiplied by

   2. (B) the quotient of:

      1. (i) the total paid losses on behalf of all insured employers during the preceding calendar year; divided by
      2. (ii) the total paid losses on behalf of all self-insured employers and insured employers during the preceding calendar year.

3. (3) The total amount of insured employer assessments under subdivision (2) must be collected by the insured employers' worker's compensation insurers. The amount of employer assessments each insurer shall collect equals:

   1. (A) the total amount of assessments allocated to insured employers under subdivision (2); multiplied by

   2. (B) the quotient of:

      1. (i) the worker's compensation premiums paid by employers to the carrier during the preceding calendar year; divided by
      2. (ii) the worker's compensation premiums paid by employers to all carriers during the preceding calendar year.
4. (4) For purposes of the computation made under subdivision (3), "premium" means the direct written premium.

5. (5) The amount of the assessment for each self-insured employer equals:

   1. (A) the total amount of assessments allocated to self-insured employers under subdivision (1); multiplied by

   2. (B) the quotient of:

      1. (i) the paid losses attributable to the self-insured employer during the preceding calendar year; divided by

      2. (ii) paid losses attributable to all self-insured employers during the preceding calendar year.

         An employer that has ceased to be a self-insurer continues to be liable for prorated assessments based on paid losses made by the employer in the preceding calendar year during the period that the employer was self-insured.

(h) If an employee who is entitled to compensation under IC 22-3-2 through IC 22-3-6 either:

1. (1) exhausts the maximum benefits under section 22 of this chapter without having received the full amount of award granted to the employee under section 10 of this chapter; or

2. (2) exhausts the employee's benefits under section 10 of this chapter;

   then such employee may apply to the board, who may award the employee compensation from the second injury fund established by this section, as follows under subsection (i).

(i) An employee who has exhausted the employee's maximum benefits under section 10 of this chapter may be awarded additional compensation equal to sixty-six and two-thirds percent (66 2/3%) of the employee's average weekly wage at the time of the employee's injury, not to exceed the maximum then applicable under section 22 of this chapter, for a period of not to exceed three (3) years upon competent evidence sufficient to establish:

1. (1) that the employee is totally and permanently disabled from causes and conditions of which there are or have been objective conditions and symptoms proven that are not within the physical or mental control of the employee; and
2. (2) that the employee is unable to support the employee in any gainful employment, not associated with rehabilitative or vocational therapy.

(k) All insurance carriers subject to an assessment under this section are required to provide to the board:

1. (1) not later than January 31 each calendar year; and

2. (2) not later than thirty (30) days after a change occurs;

   the name, address, and electronic mail address of a representative authorized to receive the notice of an assessment.

   Formerly: Acts 1929, c.172, s.33a; Acts 1949, c.250, s.1; Acts 1957, c.298, s.2; Acts 1963, c.387, s.8; Acts 1969, c.94, s.2; Acts 1974, P.L.108, SEC.11. As amended by Acts 1979, P.L.227, SEC.3; Acts 1980, P.L.22, SEC.14; P.L.28-1988, SEC.28; P.L.170-1991, SEC.7; P.L.235-1999, SEC.3; P.L.202-2001, SEC.5; P.L.178-2003, SEC.9; P.L.134-2006, SEC.5; P.L.1-2007, SEC.158; P.L.173-2007, SEC.5; P.L.67-2010, SEC.2; P.L.168-2011, SEC.5; P.L.204-2018, SEC.5.