Bill Text: HI SB1272 | 2014 | Regular Session | Amended

Hawaii Senate Bill 1272 (Prior Session Legislation)

Bill Title: Employment Security; Contribution Rate Schedules; Schedule F

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Engrossed - Dead) 2013-12-18 - Carried over to 2014 Regular Session. [SB1272 Detail]

Download: Hawaii-2014-SB1272-Amended.html

THE SENATE	S.B. NO.	1272
TWENTY-SEVENTH LEGISLATURE, 2013		S.D. 1
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO EMPLOYMENT SECURITY.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Section 383-68, Hawaii Revised Statutes, is amended by amending subsection (c) to read as follows:

"(c) Effective with calendar year 1992 and thereafter, before December 31 of the previous year the contribution rate schedule for the following calendar year shall be determined on the basis of the relationship between the most recent current reserve fund and the most recent adequate reserve fund, in accordance with this subsection and subsection (d).

(1) Whenever the ratio of the current reserve fund to the adequate reserve fund is greater than 1.69, contribution rate schedule A shall apply.

(2) Whenever the ratio of the current reserve fund to the adequate reserve fund is 1.3 to 1.69, contribution rate schedule B shall apply.

(3) Whenever the ratio of the current reserve fund to the adequate reserve fund is 1.0 to 1.29, contribution rate schedule C shall apply.

(4) Whenever the ratio of the current reserve fund to the adequate reserve fund is .80 to .99, contribution rate schedule D shall apply.

(5) Whenever the ratio of the current reserve fund to the adequate reserve fund is .60 to .79, contribution rate schedule E shall apply.

(6) Whenever the ratio of the current reserve fund to the adequate reserve fund is .40 to .59, contribution rate schedule F shall apply.

(7) Whenever the ratio of the current reserve fund to the adequate reserve fund is .20 to .39, contribution rate schedule G shall apply.

(8) Whenever the ratio of the current reserve fund to the adequate reserve fund is less than .20, contribution rate schedule H shall apply.

Notwithstanding the ratio of the current reserve fund to the adequate reserve fund, contribution rate schedule D shall apply for calendar year 2010 and contribution rate schedule F shall apply for calendar years 2011 [~~and~~], 2012[.], 2013, and 2014."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval; provided that section 1 shall apply retroactively to January 1, 2013.

Report Title:

Employment Security; Contribution Rate Schedules; Schedule F

Description:

Sets the employer contribution rate for calendar years 2013 and 2014 at schedule F. Applies retroactively to 01/01/13. (SD1)

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.