AZ HB2619

Repeals and replaces section 23-730.01 of Arizona Revised Statutes to establish a special assessment on employers for calendar years 2011 and 2012 to address unemployment insurance trust fund obligations.

Requires employers to pay a special assessment at a rate determined by the Department of Economic Security, with assessments under $10 per quarter waived, and collected alongside quarterly unemployment insurance contributions.

Creates the unemployment special assessment fund to collect assessment monies, with funds first used to pay interest charges on outstanding unemployment insurance loans and then to retire principal by November 10, 2012.

Limits assessment rates: 0.4% of taxable wages in 2011, 0.6% in 2012, and up to 0.2% additional increase in 2012 if needed, with interest charge waivers reducing the rate by 0.1%.

Automatically repeals section 23-730.01 effective December 31, 2012, and transfers any remaining fund monies to the general unemployment compensation fund.