Current Status Bill Number:4548 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19980128 Primary Sponsor:Haskins All Sponsors:Haskins, Campsen, Simrill, Fleming, Bailey, Hinson, Barrett, Mason, Young-Brickell, Canty, Koon, Bowers, Kinon, Knotts, Neilson, Easterday, Chellis, Allison, McGee, Clyburn, Sandifer, Tripp, Robinson, Law, Quinn, Davenport, Stille, Rice, Leach, Rodgers, Hamilton, Keegan, Govan, McCraw, Walker, McLeod, Phillips, Hawkins, Riser, Gamble, Young, Kirsh, Harvin and Woodrum Drafted Document Number:bbm\9617jm.98 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Employers contributions to Unemployment Compensation Fund, rates, reserve ratio; Labor, Employment Security Commission
Body Date Action Description Com Leg Involved
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House 19980128 Introduced, read first time, 30 HWM
referred to Committee
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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 41-31-85 SO AS TO PROVIDE FOR THE APPLICABLE CONTRIBUTION RATES WITH RESPECT TO THE COMPUTATION OF THE STATEWIDE RESERVE RATIO FOR EMPLOYER CONTRIBUTIONS TO THE STATE UNEMPLOYMENT COMPENSATION FUND FOR THE PERIOD JANUARY 1, 1998 THROUGH DECEMBER 31, 1998 AND FOR EACH SUCH ANNUAL PERIOD THEREAFTER.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The 1976 Code is amended by adding:
"Section 41-31-85. (A) Notwithstanding any provision contained in Section 41-31-80, with respect to the computation of the statewide reserve ratio for employer contributions to the State Unemployment Compensation Fund, for the period January 1, 1998 through December 31, 1998, and for each such annual period thereafter, the following contribution rates apply:
If the resultant percentage of the employer's reserve balance divided by the annual payroll equals or exceeds 9%, then the contribution rate is .54%;
If the resultant percentage of the employer's reserve balance divided by the annual payroll equals 8% but is less than 9%, then the contribution rate is .89%;
If the resultant percentage of the employer's reserve balance divided by the annual payroll equals 7% but is less than 8%, then the contribution rate is 1.24%;
If the resultant percentage of the employer's reserve balance divided by the annual payroll equals 6% but is less than 7%, then the contribution rate is 1.59%;
If the resultant percentage of the employer's reserve balance divided by the annual payroll equals 5% but is less than 6%, then the contribution rate is 1.94%;
If the resultant percentage of the employer's reserve balance divided by the annual payroll equals 4% but is less than 5%, then the contribution rate is 2.29%;
If the resultant percentage of the employer's reserve balance divided by the annual payroll is less than 4%, then the contribution rate is 2.64%.
(B) All other provisions of Chapters 27 through 42 of Title 41 are applicable for the period January 1, 1998 through December 31, 1998 and for each such annual period thereafter."
SECTION 2. This act takes effect upon approval by the Governor.