MN HF3853

Reduces future unemployment insurance taxes when the trust fund balance on December 31 exceeds the average high cost multiple of 1.0 by four percent or more, with reductions distributed proportionally based on each employer's share of total taxes paid.

Defines "average high cost multiple of 1.0" by reference to federal regulations (20 CFR 606.3) as a federal measure of adequate reserves relative to the state's economy.

Requires the commissioner to calculate and publish the trust fund balance and the equivalent amount of an average high cost multiple of 1.0 using actual wages paid, without estimates.

Exempts employers at maximum experience rating and high experience rating industry employers from tax reductions, and excludes these computations from rounding requirements and refund provisions.

Applies tax reductions to unemployment taxes paid between March 1 and December 15 of the year following the December 31 computation, with a retroactive effective date of December 31, 2015.