ND HB1462

Reduces the period for construction employers to qualify for reduced unemployment compensation rates from 24 consecutive calendar months to 12 consecutive calendar months, if the account was assigned the negative employer minimum rate

Adds a second pathway for construction employers to qualify for reduced rates based on a 24-month period if the account was assigned the negative employer maximum rate

Changes industrial classification assignment for unemployment compensation purposes from three-digit to four-digit major group codes under the North American Industrial Classification System Manual

Establishes that new construction employers' rates are determined by calculating cumulative lifetime reserve balance by four-digit major group, with positive balances assigned the negative employer minimum rate and negative balances assigned the negative employer maximum rate

Allows annual recalculation and potential annual rate changes for new construction employers based on four-digit major group reserve balances, without affecting the duration of the new employer rate assignment period