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ID H0335
Bill
Status
1/31/2018
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
HB 335 Summary
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Reduces the desired fund size multiplier from 1.4 to 1.53 effective January 1, 2018, used in calculating the average high cost multiple for employment security tax rates.
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Allows the director to issue adjusted taxable wage rates as soon as practicable if the fund size multiplier is revised with an effective date prior to January 1 of the following year.
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Provides employers a credit against future taxes for any overpayments resulting from tax payments made before amended taxable wage rates are adjusted.
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Declares an emergency and provides retroactive application to January 1, 2018.
Legislative Description
Amends existing law to revise the calculation of the taxable wage rate by reducing the fund size multiplier and to provide for the issuance of adjusted taxable wage rates by the director under certain circumstances.
EMPLOYMENT SECURITY LAW
Last Action
Reported Signed by Governor on January 31, 2018 Session Law Chapter 1 Effective: Retroactive to 01/01/2018
1/31/2018