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91_HB2980ham003
LRB9107003WHcsam08
1 AMENDMENT TO HOUSE BILL 2980
2 AMENDMENT NO. . Amend House Bill 2980, AS AMENDED,
3 by replacing the title with the following:
4 "AN ACT in relation to workers' compensation."; and
5 by replacing everything after the enacting clause with the
6 following:
7 "Section 5. The Workers' Compensation Act is
8 amended by adding Section 10.1 as follows:
9 (820 ILCS 305/10.1 new)
10 Sec. 10.1. Compromise lump sum settlement. The parties,
11 by agreement and with approval of an arbitrator or the
12 Commission, may enter into a compromise lump sum settlement
13 in either permanent total or permanent partial disability
14 cases which prorates the lump sum settlement over the life
15 expectancy of the injured worker. When such an agreement has
16 been approved, neither the weekly compensation rate paid
17 throughout the case nor the maximum statutory weekly rate
18 applicable to the injury shall apply. No compensation rate
19 shall exceed the maximum statutory weekly rate as of the date
20 of the injury. Instead, the prorated rate set forth in the
21 approved settlement documents shall control and become the
-2- LRB9107003WHcsam08
1 rate for that case. This Section shall be retroactive in
2 effect.".