06 LC
36 0193S
House
Bill 1326 (AS PASSED HOUSE AND SENATE)
By:
Representatives Coan of the
101st,
Williams of the
4th,
Butler of the
18th,
Carter of the
159th,
Cox of the
102nd,
and others
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 34-8-156 of the Official Code of Georgia Annotated, relating
to the State-wide Reserve Ratio for unemployment compensation, so as to change
certain provisions regarding adjustment in contribution rates; to provide for
related matters; to repeal conflicting laws; and for other
purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 34-8-156 of the Official Code of Georgia Annotated, relating to the
State-wide Reserve Ratio for unemployment compensation, is amended by striking
in its entirety subparagraph (d)(4)(B) and inserting in lieu thereof the
following:
"(B)
Except for any year or portion of a year during which the provisions of
paragraph (1) of subsection (f) of Code Section 34-8-155 apply, when the
State-wide Reserve Ratio, as calculated above, is less than 1.7 percent, there
shall be an overall increase in the rate, as of the computation date, for each
employer whose rate is computed under a rate table in Code Section 34-8-155 in
accordance with the following table:
|
If
the State-wide Reserve Ratio:
|
||
|
Equals
or
Exceeds
|
But
Is
Less
Than
|
Overall
Increase
|
|
1.5
percent
|
1.7
percent
|
25
percent
|
|
1.25
percent
|
1.5
percent
|
50
percent
|
|
0.75
percent
|
1.25
percent
|
75
percent
|
|
Under
0.75 percent
|
|
100
percent
|
provided,
however, that for the
period
periods
of January 1 through December 31,
2006
2004; January
1 through December 31, 2005; and January 1 through December 31,
2006, the overall increase in the rate
required under this subparagraph shall be suspended and the provisions of this
subparagraph shall be null and void, except in the event the State-wide Reserve
Ratio, as calculated above, is less than 1.00 percent
on the
computation date with respect to rates applicable to calendar year 2004, 2005,
or 2006, then
for each such
year the Commissioner of Labor shall have
the option of imposing an increase in the overall rate of up to 35 percent, as
of the computation date, for each employer whose rate is computed under a rate
table in Code Section
34-8-155;
and
provided,
further, that for the period of January 1 through December 31, 2007, the overall
increase in the rate required under this subparagraph shall be suspended and the
provisions of this subparagraph shall be null and void, except in the event the
State-wide Reserve Ratio, as calculated above, is less than 1.25 percent on the
computation date with respect to rates applicable to calendar year 2007, then
the Commissioner of Labor shall have the option of imposing an increase in the
overall rate of up to 35 percent, as of the computation date, for each employer
whose rate is computed under a rate table in Code Section
34-8-155."
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.