HI SB373

Amends Act 110, Session Laws of Hawaii 2007, section 3 regarding the definition of "wages" under Hawaii's unemployment compensation system.

Removes 2010 from the period during which the maximum taxable wage base is limited to $13,000, changing the applicability from calendar years 2008, 2009, and 2010 to only 2008 and 2009.

For 2010 and beyond, the taxable wage base reverts to being calculated as the average annual wage for the four calendar quarter period ending June 30 of the preceding year, rather than a fixed $13,000 limit.

The $13,000 wage base cap for 2008-2009 remains conditional on the unemployment trust fund balance not falling below the adequate reserve fund level specified in section 383-63.

Takes effect upon approval.