§ 781.8. Trigger rate redeterminations
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 43 P.S. LaborEffective: June 12, 2012
Effective: June 12, 2012
43 P.S. § 781.8
§ 781.8. Trigger rate redeterminations
(a) Beginning in 1992 and each fifth year thereafter, the secretary shall redetermine the rates of the surcharge, employe tax, additional contributions and benefit reduction otherwise applicable under sections 301.7 and 404(e)(4).1 The secretary shall redetermine the rates so that the unrounded rates yield contribution increases and benefit reductions, on a calendar year basis, approximately equal to the dollar amounts specified in subsection (b). The rates as redetermined shall take effect on January 1 of the following calendar year and shall remain in effect for five years.
(b)(1) For calendar years 2013 through the year determined under paragraph (4), if the trigger percentage as of July 1 of the preceding calendar year is less than two hundred fifty per centum (250%), the rates determined under paragraph (2) shall apply. For calendar years following the year determined under paragraph (4), if the trigger percentage as of July 1 of the preceding calendar year is less than two hundred fifty per centum (250%), the rates determined under paragraph (3) shall apply.
(2) The secretary shall redetermine the rates such that the surcharge assessed under section 301.52 shall yield one hundred million dollars ($100,000,000), the additional contribution under section 301.23 shall yield two hundred twenty-five million dollars ($225,000,000), the employe tax under section 301.44 shall yield one hundred sixty-six million six hundred sixty-six thousand six hundred sixty-six dollars ($166,666,666), and the benefit reduction under section 404(e)(4) shall yield fifty-two million dollars ($52,000,000).
(3) The secretary shall redetermine the rates such that the surcharge assessed under section 301.5 shall yield one hundred thirty-eight million dollars ($138,000,000), the additional contribution under section 301.2 shall yield the sum of three hundred ten million dollars ($310,000,000) plus the amount determined under paragraph (5), the employe tax under section 301.4 shall yield two hundred thirty million dollars ($230,000,000), and the benefit reduction under section 404(e)(4) shall yield seventy-two million dollars ($72,000,000).
(ii) There are no outstanding bond obligations under Article XIV of this act5 and no bond administrative expenses under Article XIV of this act and no such obligations and no such expenses will be due in the following year.
(i) twenty per centum (20%) of the amount paid from the Unemployment Compensation Fund pursuant to section 1407(c)6 during the sixty (60) consecutive calendar months ending on June 30 of the year in which the redetermination occurs, plus
(ii) twenty per centum (20%) of that portion of the amount paid from the Unemployment Compensation Fund pursuant to section 1407(c) during the immediately preceding sixty (60) consecutive calendar months that is not recovered by additional contributions paid for calendar years through the calendar year in which the redetermination occurs.
Credits
1936, Dec. 5, 2nd Sp.Sess., P.L. (1937) 2897, No. 1, § 301.8, added 1988, Oct. 19, P.L. 818, No. 109, § 2, effective Jan. 1, 1989. Amended 2012, June 12, P.L. 577, No. 60, § 5, imd. effective.
Footnotes
43 P.S. §§ 781.7, 804(e)(4).
43 P.S. § 781.5.
43 P.S. § 781.2.
43 P.S. § 781.4.
43 P.S. § 917.1 et seq.
43 P.S. § 917.7.
43 P.S. § 781.8, PA ST 43 P.S. § 781.8
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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