May 22, 2003

The Honorable Michael E. Busch
Speaker of the House
State House
Annapolis MD 21401

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the Maryland Constitution, today I have vetoed House Bill 418 - Injured Workers' Insurance Fund - Risk Based Capital - Exemption from Excessive Premium Growth Charge.

This bill exempts the Injured Workers' Insurance Fund from the excessive premium growth charge or other penalty associated with premium growth in any risk based capital calculation. Additionally the bill provides for the termination of a specified exemption.

Senate Bill 85, which was passed by the General Assembly and signed by me, accomplishes the same purpose. Therefore, it is not necessary for me to sign House Bill 418.

Robert L. Ehrlich, Jr.