SB 2848 Summary

• Amends Hawaii Revised Statutes Section 383-61(c) to extend the $13,000 wage ceiling for unemployment insurance contributions beyond its scheduled expiration date.

• Changes the taxable wage base limitation from a temporary provision set to expire after 2010 to a permanent policy effective January 1, 2011 and thereafter.

• Maintains the condition that the $13,000 ceiling applies only as long as the unemployment trust fund balance does not fall below the adequate reserve fund specified in Section 383-63.

• Makes permanent a wage base cap that was previously scheduled to apply only for calendar years 2008, 2009, and 2010.