AK SB156

Amends AS 23.20.290(c) to establish minimum unemployment insurance contribution rates for employers based on 21 rate classes organized by cumulative ratable payroll percentages.

Replaces previous fixed minimum rate of 1 percent and maximum of 6.5 percent with variable minimum tax rates specified in Column D of the rate table, ranging from 0.40 percent to 5.40 percent depending on rate class.

Removes special 5.4 percent minimum rate requirement for employers in rate class 21, incorporating it into the general rate table structure.

Requires all employer contribution rates to be rounded to the nearest 1/100th of one percent.

Takes effect January 1, 2021.