MS SB3183

Creates the Mississippi Level Payment Plan (MLPP) allowing eligible employers to spread unemployment tax payments evenly across four quarterly installments instead of paying based on actual quarterly wages, with elections due by April 1 each year and eligibility requiring no delinquent reports or taxes in the prior two years and electronic filing/payment.

Doubles the taxable wage base from $7,000 to $14,000 effective after December 31, 2010, and lowers the unemployment tax rate for newly subject employers from 2.4% to 1.0% in the first year (1.1% second year, 1.2% third year and beyond) after that date.

Reduces the Workforce Enhancement Training contribution rate from 0.3% to 0.15% of taxable wages after December 31, 2010, with automatic suspension if the insured unemployment rate exceeds 5.5% for three consecutive months and resumption when it drops below 4.5%.

Revises the Size of Fund Index (SOFI) to set target levels based on the insured unemployment rate, with a target of 1.0 under normal conditions, 0.8 when unemployment exceeds 4.5%, and 1.2 when unemployment falls below 2.5%, and establishes a minimum general experience (tax) rate of 0.2% for years after 2010.

Authorizes interception of state payments owed to delinquent political subdivisions to satisfy unemployment compensation debts, reduces the contribution rate for political subdivisions electing to pay into the fund from 2% to 1% of taxable wages after 2010, and removes the July 1, 2010 repeal date on the provision capping weekly unemployment benefits at $235.