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HOUSE OF REPRESENTATIVES |
H.B. NO. |
635 |
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THIRTY-FIRST LEGISLATURE, 2021 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to Taxation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 383-68, Hawaii
Revised Statutes is amended by amending subsection (c) to read as follows:
"(c) Effective with
calendar year 1992 and thereafter, before December 31 of the previous year the
contribution rate schedule for the following calendar year shall be determined
on the basis of the relationship between the most recent current reserve fund and
the most recent adequate reserve fund, in accordance with this subsection and
subsection (d).
(1) Whenever the ratio of the
current reserve fund to the adequate reserve fund is greater than 1.69,
contribution rate schedule A shall apply.
(2)
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.
(3)
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.
(4)
Whenever the ratio of the current reserve fund to the adequate reserve fund is
.80 to .99, contribution rate schedule D shall apply.
(5)
Whenever the ratio of the current reserve fund to the adequate reserve fund is
.60 to .79, contribution rate schedule E shall apply.
(6)
Whenever the ratio of the current reserve fund to the adequate reserve fund is
.40 to .59, contribution rate schedule F shall apply.
(7)
Whenever the ratio of the current reserve fund to the adequate reserve fund is
.20 to .39, contribution rate schedule G shall apply.
(8)
Whenever the ratio of the current reserve fund to the adequate reserve fund is
less than .20, contribution rate schedule H shall apply.
Notwithstanding the ratio of the current reserve fund to the adequate reserve
fund, contribution rate schedule D shall apply for calendar year years
2010 2021 through 2023. and contribution rate schedule F shall
apply for calendar years 2011 and 2012."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This act shall take effect upon approval.
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INTRODUCED BY: |
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Report Title:
Employment Security; Weekly Benefit Amounts; Contribution Rate Schedules; Unemployment Compensation Fund
Description:
Sets the maximum weekly benefit amount at seventy-five per cent of the average weekly wage from June 1, 2021 to December 31, 2023.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.