Report Title:

Employment and Training Fund; Maintains Current Assessment

 

Description:

Amends the formula that determines the amount to be assessed against employers for deposit in the Employment and Training Fund by making the .05% assessment rate permanent.

 

THE SENATE

S.B. NO.

733

TWENTY-FIRST LEGISLATURE, 2001

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO EMPLOYMENT SECURITY.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Section 383-129, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

"(a) [Effective January 1, 1992, through June 30, 1997, and from January 1, 1999, through December 31, 2003, in] In addition to contributions determined by section 383-68, every employer, except an employer who has selected an alternative method of financing liability for unemployment compensation benefits pursuant to section 383-62, or an employer who has been assigned a minimum rate of zero per cent or the maximum rate of five and four-tenths per cent in accordance with section 383-68, shall be subject to an employment and training fund assessment at a rate of[:

(1)] .05 per cent of taxable wages [for 2000;

(2) .03 per cent of taxable wages for 2001; and

(3) .01 per cent of taxable wages for 2002;]

as specified in section 383-61.

[For 2003 and all subsequent years, there shall be no employment and training fund assessments.]"

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect on July 1, 2001.

INTRODUCED BY:

_____________________________