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                                          ENGROSSED SENATE BILL NO. 4638

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State of Washington                              49th Legislature                              1986 Regular Session

By Senators Goltz, Newhouse and Vognild

Read first time 1/17/86 and referred to Committee on Commerce & Labor.

AN ACT Relating to industrial insurance; and amending RCW 51.16.050.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1.  Section 51.16.050, chapter 23, Laws of 1961 as amended by section 1, chapter 274, Laws of 1971 ex. sess. and RCW 51.16.050 are each amended to read as follows:

          The premiums of employers of the building industry, which shall include all field activities in connection with the erection, alteration, repairing, renovation, or demolishing of any building or buildings or parts thereof or appurtenance thereto, adapted to ((residential,)) business, governmental, educational, or manufacturing uses, except those building activities directly related to residential construction, shall be computed on a base rate only but appropriate annual dividends shall be returned to such employers based upon a protective premium formula promulgated by the director which encourages accident prevention incentives:  PROVIDED, That the total base rate premium shall not exceed one hundred twenty per centum of a rate necessary to assure that premiums assessed against such employers will be neither excessive nor inadequate for payment of all claims incurred by such employers.