5702-S.E AMH .... CORD 8

ESSB 5702 - H AMDS 000427 LOST 4-14-93

By Representative Sheldon and others

     On page 11, beginning on line 16, strike all of subsection (2) and insert the following:

     "(2) An individual's weekly benefit amount shall be an amount equal to one twenty-fifth of the average quarterly wages of the individual's total wages during the two quarters of the individual's base year in which such total wages were highest.  The maximum and minimum amounts payable weekly shall be determined as of each June 30th to apply to benefit years beginning in the twelve-month period immediately following such June 30th.  The maximum amount payable weekly shall be ((fifty-five)) sixty percent of the "average weekly wage" for the calendar year preceding such June 30th((:  PROVIDED, That if as of the first December 31st on which the ratio of the balance in the unemployment compensation fund to total remuneration paid by all employers subject to contributions during the calendar year ending on such December 31st and reported to the department by the following March 31st is 0.024 or more, the maximum amount payable weekly for benefit years beginning with the first full calendar week in July next following, and thereafter, shall be sixty percent of the "average weekly wage".  The computation for this ratio shall be carried to the fourth decimal place with the remaining fraction, if any, disregarded:  PROVIDED FURTHER, That for benefit years beginning before July 7, 1985, the maximum amount payable weekly shall not exceed one hundred eighty-five dollars)), except that if a determination is made under RCW 50.29.025 that tax schedule AA will be in effect for the following rate year, then the maximum amount payable weekly shall be sixty-six and two-thirds percent of the average weekly wage.  The minimum amount payable weekly shall be fifteen percent of the "average weekly wage" for the calendar year preceding such June 30th.  If any weekly benefit, maximum benefit, or minimum benefit amount computed herein is not a multiple of one dollar, it shall be reduced to the next lower multiple of one dollar."

     On page 30, line 11, after "effect" strike "July 3, 1993" and insert "immediately"

EFFECT:  The amendment changes the increase in the maximum weekly benefit from 70 percent to 60 percent of the state average weekly wage (the maximum currently in effect) but provides that when tax schedule AA is scheduled to be in effect during the next tax year, then the maximum is 66-2/3 percent of the state average weekly wage.  A correction is made in the effective date for the section.