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HB 1278 - Reduces the Unemployment Insurance Contribution Rates - Hawaii Key Vote

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Title: Reduces the Unemployment Insurance Contribution Rates

Signed by Governor David Ige


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Title: Reduces the Unemployment Insurance Contribution Rates

Vote Smart's Synopsis:

Vote to pass a bill that reduces the unemployment insurance contribution tax rates.

Highlights:

 

  • Defines “benefit year” as a period of 52 consecutive weeks beginning with the first day of the week in which an individual files a new valid claim for benefits; except that the benefit year will be 53 weeks if the filing of a new valid claim would result in overlapping any quarter of the base year of a previously filed new claim. A subsequent benefit year cannot be established until the expiration of the current benefit year (Sec. 1-1).

  • Specifies for weeks of unemployment beginning March 15, 2020, and ending on March 20, 2021, any base period employer charged with benefits that are not a direct result of the COVID-19 pandemic shall be entitled to relief in the form of a 50% credit against the amount owed by the reimbursable employer (Sec. 3.a).

  • Establishes the contribution rate schedule for the following calendar year will be determined based on the relationship between the most recent current reserve fund and the most recent adequate reserve fund in the following ways (Sec. 4.c):

    • Whenever the ratio of the current reserve fund to the adequate reserve fund is greater than 1.69, contribution rate schedule A shall apply.

    • Whenever the ratio of the current reserve fund to the adequate reserve fund is 1.3 to 1.69, contribution rate schedule B shall apply.

    • Whenever the ratio of the current reserve fund to the adequate reserve fund is 1.0 to 1.29, contribution rate schedule C shall apply.

    • Whenever the ratio of the current reserve fund to the adequate reserve fund is .80 to .99, contribution rate schedule D shall apply.

    • Whenever the ratio of the current reserve fund to the adequate reserve fund is .60 to .79, contribution rate schedule E shall apply.

    • Whenever the ratio of the current reserve fund to the adequate reserve fund is .40 to .59, contribution rate schedule F shall apply.

    • Whenever the ratio of the current reserve fund to the adequate reserve fund is .20 to .39, contribution rate schedule G shall apply.

    • Whenever the ratio of the current reserve fund to the adequate reserve fund is less than .20, contribution rate schedule H shall apply.

  • Requires the director of the Department of Labor and Industrial Relations for calendar years 2021 and 2022 to modify the annual computation to omit benefits charged for all employers to address the disruptions caused by the COVID-19 pandemic (Sec. 5).

Title: Reduces the Unemployment Insurance Contribution Rates

Title: Reduces the Unemployment Insurance Contribution Rates

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