                                 CODE OF VIRGINIA

TAX FOR ADMINISTRATIVE FUND (§ 65.2-1000)

For the purpose of paying the salaries and necessary expenses of the
Workers&#8217; Compensation Commission and its assistants and employees in
administering and carrying out the provisions of this title, an administrative
fund shall be created and maintained in the following manner:

1. Every person, partnership, association, corporation, whether organized under
the laws of this or any other state or country, company, mutual company or
association, the parties to any interindemnity contract or reciprocal plan or
scheme, and every other insurance carrier, insuring employers in this
Commonwealth against liability for personal injuries to their employees or death
caused thereby, under the provisions of this title, shall, as hereinafter
provided, pay a tax upon the premiums received, whether in cash or notes, in
this Commonwealth or on account of business done in this Commonwealth, for such
insurance in this Commonwealth, at the rate of 2.5 percent of the amount of such
premiums.

2. However, premiums received for insuring liability which exists concurrently
under this title and the Federal Coal Mine Health and Safety Act of 1969, as
amended, shall be modified in accordance with an equitable premium modification
plan approved by the Commission. Such tax shall be in lieu of all other taxes on
such premiums, except as provided in &#xA7;&#xA7; 65.2-1101, 65.2-1201, and
Chapter 4 (&#xA7; 38.2-400 et seq.) of Title 38.2, and shall be assessed and
collected as hereinafter provided. But such insurance carriers shall be credited
with all cancelled or returned premiums, actually refunded during the year on
such insurance, and with premiums on reinsurance assumed.

HISTORY: Code 1950, § 65-120; 1968, c. 660, § 65.1-129; 1975, c. 365; 1977, c.
345; 1984, c. 606; 1991, c. 355; 1996, c. 56.