5963-S AMH ANDG H3016.1

SSB 5963  - H AMD TO CL COMM AMD (H-2961.2/09)570
     By Representative Anderson

NOT CONSIDERED 04/26/2009

     Beginning on page 13, line 31 of the amendment, strike all material through "date." on page 16, line 5 and insert the following:
     "(b) On the fifteenth day of the first month of each calendar quarter, an amount equaling twenty-five percent of the total social cost shall be transferred from the general fund into the unemployment compensation fund. The maximum amount of the total social cost transfer in any rate year shall be two and five-tenths percent of the taxable wage base. Before January 1, 2011, adjustments to the maximum amount of the total social cost transfer are prohibited, except as specifically authorized upon the affirmative vote of sixty percent of the members of each house of the legislature. For the purposes of this section, "total social cost" means the amount calculated by subtracting the array calculation factor contributions paid by all employers with respect to the four consecutive calendar quarters immediately preceding the computation date and paid to the employment security department by the cut-off date from the total unemployment benefits paid to claimants in the same four consecutive calendar quarters."

     On page 16, line 18 of the amendment, after "(b)" strike "(ii)"

     On page 16, line 28 of the amendment, after "(b)" strike "(ii)"

EFFECT:  Requires that amounts equal to 25 percent of total social costs be transferred from the General Fund to the Unemployment Compensation Fund each quarter. Caps the total social cost transfer in any year at 2.5 percent of the taxable wage base. Requires, before January 1, 2011, approval of 60 percent of the members of each house of the Legislature to change the cap.

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