Chapter 109

Chapter 109

2003 -- S 0453

Enacted 07/04/03

 

 

A N A C T

RELATING TO EMPLOYMENT SECURITY - TAXABLE WAGE BASE

     

     

     Introduced By: Senator June N. Gibbs

     Date Introduced: February 13, 2003

 

 

It is enacted by the General Assembly as follows:

 

     SECTION 1. Section 28-43-7 of the General Laws in Chapter 28-43 entitled

"Employment Security - Contributions" is hereby amended to read as follows:

     28-43-7. Taxable wage base. -- The taxable wage base under this chapter for the tax year

beginning January 1, 1999, and all tax years thereafter is twelve thousand dollars ($12,000) if the

amount of the employment security fund , not including any federal disbursements made to the

states pursuant to 42 U.S.C. section 1103, is more than two hundred twenty-five million dollars

($225,000,000), or fourteen thousand dollars ($14,000) if the amount of the employment security

fund is more than one hundred seventy-five million dollars ($175,000,000) but less than or equal

to two hundred twenty-five million dollars ($225,000,000), or sixteen thousand dollars ($16,000)

if the amount of the employment security fund is more than one hundred twenty-five million

dollars ($125,000,000) but less than or equal to one hundred seventy-five million dollars

($175,000,000), or eighteen thousand dollars ($18,000) if the amount of the employment security

fund is less or equal to than one hundred twenty-five million dollars ($125,000,000) but more

than seventy-five million dollars ($75,000,000), or nineteen thousand dollars ($19,000) if the

amount of the employment security is less than or equal to seventy-five million ($75,000,000).

The taxable wage base is determined by the amount of the employment security fund on

September 30th of each calendar year and that taxable wage base shall be effective for the tax

year immediately following the determination date.

     SECTION 2. This act shall take effect upon passage.

     

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LC02248

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