FL S1124

Beginning January 1, 2019, employers with contribution rates below the maximum rate of 5.4 percent receive a reduction of 0.01 percent from their otherwise calculated rate.

The contribution rate adjustment may not be applied in any year when the Unemployment Compensation Trust Fund balance requires computation of a positive adjustment factor.

Clarifies that employer contribution rates may not be rounded to less than 0.1 percent, except for rates adjusted under the new sub-subparagraph.

Takes effect on the same date as SB 1122 or similar legislation, if enacted in the same legislative session.