IL SB3314

Allows employers to pay quarterly unemployment insurance contributions for the first three quarters of a calendar year in equal installments upon payment of an annual administrative fee not exceeding $100.

Establishes payment schedule: first quarter contributions split into four equal payments due April 30, July 31, October 31, and January 31 of the following year; second quarter contributions split into three equal payments due July 31, October 31, and January 31; third quarter contributions split into two equal payments due October 31 and January 31.

Waives interest accrual on timely payments made under this installment plan; interest accrues from original due date if employer fails to pay installments when due.

Annual administrative fee must be paid by April 30 and deposited into the Special Administrative Account.

Installment payment option is not available in any calendar year when outstanding bonds exist under the Illinois Unemployment Insurance Trust Fund Financing Act.