H 4548 Session 112 (1997-1998)
H 4548 General Bill, By Haskins, Allison, Bailey, Barrett, Bowers, Campsen,
Canty, Chellis, Clyburn, Davenport, Easterday, Fleming, Gamble, Govan, Hamilton,
Harvin, Hawkins, Hinson, Keegan, M.H. Kinon, Kirsh, Knotts, Koon, Law, Leach,
Mason, McCraw, McGee, W. McLeod, Neilson, Phillips, Quinn, Rice, Riser,
Robinson, Rodgers, Sandifer, Simrill, Stille, Tripp, Walker, Woodrum,
Young-Brickell and W.J. Young
A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION
41-31-85 SO AS TO PROVIDE FOR THE APPLICABLE CONTRIBUTION RATES WITH RESPECT
TO THE COMPUTATION OF THE STATEWIDE RESERVE RATIO FOR EMPLOYER CONTRIBUTIONS
TO THE STATE UNEMPLOYMENT COMPENSATION FUND FOR THE PERIOD JANUARY 1, 1998
THROUGH DECEMBER 31, 1998 AND FOR EACH SUCH ANNUAL PERIOD THEREAFTER.
01/28/98 House Introduced and read first time HJ-58
01/28/98 House Referred to Committee on Ways and Means HJ-58
A BILL
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA,
1976, BY ADDING SECTION 41-31-85 SO AS TO PROVIDE FOR
THE APPLICABLE CONTRIBUTION RATES WITH RESPECT
TO THE COMPUTATION OF THE STATEWIDE RESERVE
RATIO FOR EMPLOYER CONTRIBUTIONS TO THE STATE
UNEMPLOYMENT COMPENSATION FUND FOR THE PERIOD
JANUARY 1, 1998 THROUGH DECEMBER 31, 1998 AND FOR
EACH SUCH ANNUAL PERIOD THEREAFTER.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. The 1976 Code is amended by adding:
"Section 41-31-85. (A) Notwithstanding any provision contained
in Section 41-31-80, with respect to the computation of the statewide
reserve ratio for employer contributions to the State Unemployment
Compensation Fund, for the period January 1, 1998 through
December 31, 1998, and for each such annual period thereafter, the
following contribution rates apply:
If the resultant percentage of the employer's reserve balance
divided by the annual payroll equals or exceeds 9%, then the
contribution rate is .54%;
If the resultant percentage of the employer's reserve balance
divided by the annual payroll equals 8% but is less than 9%, then the
contribution rate is .89%;
If the resultant percentage of the employer's reserve balance
divided by the annual payroll equals 7% but is less than 8%, then the
contribution rate is 1.24%;
If the resultant percentage of the employer's reserve balance
divided by the annual payroll equals 6% but is less than 7%, then the
contribution rate is 1.59%;
If the resultant percentage of the employer's reserve balance
divided by the annual payroll equals 5% but is less than 6%, then the
contribution rate is 1.94%;
If the resultant percentage of the employer's reserve balance
divided by the annual payroll equals 4% but is less than 5%, then the
contribution rate is 2.29%;
If the resultant percentage of the employer's reserve balance
divided by the annual payroll is less than 4%, then the contribution
rate is 2.64%.
(B) All other provisions of Chapters 27 through 42 of Title 41 are
applicable for the period January 1, 1998 through December 31, 1998
and for each such annual period thereafter."
SECTION 2. This act takes effect upon approval by the Governor.
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