SC H4745

Extends the lookback period for calculating employer unemployment insurance tax benefit ratios from 12 calendar quarters (3 years) to 16 calendar quarters (4 years) beginning in tax year 2027

Further extends the lookback period to 20 calendar quarters (5 years) starting in tax year 2028

Maintains the existing calculation method: dividing total benefits charged to an employer by the employer's taxable payroll over the lookback period

Allows use of available data if fewer quarters exist than the required lookback period (but more than one quarter)

Takes effect upon Governor's approval