1. Each mutual or interinsurance association, stock company, CompSource Mutual Insurance Company or other insurance carrier writing workers' compensation insurance in this state shall pay to the Oklahoma Tax Commission an assessment at a rate of one percent (1%) of all gross direct premiums written during each quarter of the calendar year for workers' compensation insurance on risks located in this state after deducting from such gross direct premiums, return premiums, unabsorbed portions of any deposit premiums, policy dividends, safety refunds, savings and other similar returns paid or credited to policyholders. Such payments to the Oklahoma Tax Commission shall be made not later than the fifteenth day of the month following the close of each quarter of the calendar year in which such gross direct premium is collected or collectible. Contributions made by insurance carriers and CompSource Mutual Insurance Company, under the provisions of this section, shall be considered for the purpose of computing workers' compensation rates; and

2. When an employer is authorized to become a self-insurer, the Commission shall so notify the Oklahoma Tax Commission, giving the effective date of such authorization. The Oklahoma Tax Commission shall then assess and collect from the employers carrying their own risk an assessment at the rate of two percent (2%) of the total compensation for permanent total disability awards, permanent partial disability awards and death benefits paid out during each quarter of the calendar year by the employers. Such assessment shall be payable by the employers and collected by the Oklahoma Tax Commission according to the provisions of this section regarding payment and collection of the assessment created in paragraph 1 of this subsection.

1. Five Million Five Hundred Thousand Dollars ($5,500,000.00) shall be payable each fiscal year in equal monthly installments to the credit of the Workers' Compensation Commission Revolving Fund established in Section 28.1 of this title to be used to implement the provisions of this title; and

2. One Million Seven Hundred Fifty Thousand Dollars ($1,750,000.00) shall be payable in equal monthly installments to the credit of the Workers' Compensation Administrative Fund established in Section 401.1 of this title for the fiscal year ending June 30, 2023, and Two Hundred Fifty Thousand Dollars ($250,000.00) payable in equal monthly installments to such fund for the fiscal year beginning July 1, 2023, and each subsequent fiscal year.

Monies deposited in the Workers' Compensation Administrative Fund shall be used by the Workers' Compensation Court of Existing Claims to implement provisions provided for in this title. All unencumbered funds remaining in the Workers' Compensation Administration Fund on July 1, 2027, shall be transferred to the State Treasurer to be returned to the Multiple Injury Trust Fund.