FL H1337

Beginning January 1, 2020, employers with contribution rates below the maximum 5.4 percent rate shall have their rate reduced by 0.01 percent (one one-hundredth of 1 percent).

The 0.01 percent adjustment shall not apply in any year when the Unemployment Compensation Trust Fund balance is low enough to require computation of a positive adjustment factor.

Amendments conform contribution rate calculation procedures under Florida Statutes section 443.131 to accommodate the new adjustment provision.

The act takes effect July 1, 2019.