AK SB217

Establishes a new 0.4% employer contribution on wages to fund the State Training and Employment Program (STEP), with revenue deposited into the employment assistance and training program account

Allows employers to credit their unemployment insurance contributions against the new 0.4% STEP contribution, reducing or eliminating the additional liability for employers already paying into the unemployment system

Lowers the minimum unemployment contribution rate for employers in Rate Class 1 from 0.40% to 0.0%, while removing the previous 1% floor for experienced employers

Maintains the 6.5% maximum contribution rate and sets minimum rates of 1% for new employers (less than four quarters experience) and 5.4% for employers in Rate Class 21

Takes effect January 1, 2027