50.29.041 - Contribution rate -- Solvency surcharge. - Washington Statutes

Contribution rate — Solvency surcharge.

Beginning with contributions assessed for rate year 2005, the contribution rate of each employer subject to contributions under RCW 50.24.010 shall include a solvency surcharge determined as follows:

     (1) This section shall apply to employers' contributions for a rate year immediately following a cut-off date only if, on the cut-off date, the balance in the unemployment compensation fund is determined by the commissioner to be an amount that will provide fewer than seven months of unemployment benefits.

     (2) The solvency surcharge shall be the lowest rate necessary, as determined by the commissioner, but not more than two-tenths of one percent, to provide revenue during the applicable rate year that will fund unemployment benefits for the number of months that is the difference between nine months and the number of months for which the balance in the unemployment compensation fund on the cut-off date will provide benefits.

     (3) The basis for determining the number of months of unemployment benefits shall be the same basis used in *RCW 50.29.025(2)(b)(i)(B).

[2006 c 13 § 5; 2003 2nd sp.s. c 4 § 16.]

Notes: *Reviser's note: RCW 50.29.025 was amended by 2009 c 3 § 14 and by 2009 c 493 § 2, changing the subsection numbering.

Application -- 2006 c 13 §§ 4 and 5: See note following RCW 50.29.025.

Conflict with federal requirements -- Part headings not law -- Severability -- 2006 c 13: See notes following RCW 50.20.120.

Conflict with federal requirements -- Severability -- Effective date -- 2003 2nd sp.s. c 4: See notes following RCW 50.01.010.