Bill Description: House Bill 518 would remove the requirement that makes worker's compensation settlements first obtain the permission of the state the Industrial Commission. It would allow such a requirement to stay in place for settlements involving minors or legally incompetent persons.
Does it give government any new, additional, or expanded power to prohibit, restrict, or regulate activities in the free market? Conversely, does it eliminate or reduce government intervention in the market?
House Bill 518 would repeal and replace Section 72-404, Idaho Code, which concerns worker's compensation settlements. Under the existing statute, no one can receive such a settlement unless the industrial commission approves it. Under the proposed new version of the section, such approval would be required only in cases "where a party is a minor child or legally incompetent person."
In addition to expediting the settlement process, House Bill 518 would allow for settlements that are voluntarily entered into, without any state involvement.
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