Section 288.122

There are multiple enactments of 288.122

Title XVIII LABOR AND INDUSTRIAL RELATIONS

Chapter 288

Effective - 01 Jan 2005, 4 histories, see footnote   (history) 

  288.122.  If cash in fund exceeds certain amounts, contribution rate to decrease, amount — table — effective when. — On October first of each calendar year, if the average balance, less any federal advances, of the unemployment compensation trust fund of the four preceding quarters (September thirtieth, June thirtieth, March thirty-first and December thirty-first of the preceding calendar year) is more than five hundred million dollars, then each employer's contribution rate calculated for the four calendar quarters of the succeeding calendar year shall be decreased by the percentage determined from the following table:

Balance in Trust Fund
		Percentage
More Than	Equal to or Less Than	of Decrease
$600,000,000	$750,000,000	7%
$750,000,000		12%

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Notwithstanding the table in this section, if the balance in the unemployment insurance compensation trust fund as calculated in this section is more than seven hundred fifty million dollars, the percentage of decrease of the employer's contribution rate calculated for the four calendar quarters of the succeeding calendar year shall be no greater than ten percent for any employer whose calculated contribution rate under section 288.120 is six percent or greater.

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(L. 1982 H.B. 1521, A.L. 1984 H.B. 1251 & 1549, A.L. 1988 H.B. 1485, A.L. 1992 S.B. 626, A.L. 1994 S.B. 559, A.L. 2004 H.B. 1268 & 1211)

Effective 1-1-05