§ 3-114. Estimate of financial condition of fund--Surcharge
Oklahoma Statutes AnnotatedTitle 40. LaborEffective: July 1, 2021
Effective: July 1, 2021
40 Okl.St.Ann. § 3-114
§ 3-114. Estimate of financial condition of fund--Surcharge
ESTIMATE OF FINANCIAL CONDITION OF FUND--SURCHARGE. Prior to the beginning of each calendar quarter, the Oklahoma Employment Security Commission shall prepare an estimate of the financial condition of the fund for the quarter. If the estimate for any quarter shows a balance at any time during the quarter of less than Twenty-five Million Dollars ($25,000,000.00), the Commission shall assess and collect a surcharge for that calendar quarter in an amount sufficient to keep the balance at Twenty-five Million Dollars ($25,000,000.00), except as otherwise provided in this section.
The surcharge shall be charged to each employer in proportion to the employer's total tax liability as of the last completed quarter for the current calendar year and shall not exceed thirty-three and one-third percent (33 ⅓ %) per taxable year.
In a state of emergency declared by the Governor, the Oklahoma Legislature, the United States President or the U.S. Congress, the Commission shall have the following authority:
Credits
Laws 1983, c. 270, § 14, emerg. eff. June 23, 1983; Laws 1986, c. 205, § 9, emerg. eff. June 6, 1986; Laws 1992, c. 318, § 4, eff. July 1, 1992; Laws 2021, c. 56, § 2, eff. July 1, 2021.
40 Okl. St. Ann. § 3-114, OK ST T. 40 § 3-114
Current with emergency effective legislation through Chapter 378 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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