HARRY HUGHES, Governor

3231

.0145—.0153	1.8%	.0370—.0378	4.3%
.0154—.0162	1.9%	.0379—.0387	4.4%
.0163—.0171	2.0%	.0388—.0396	4.5%
.0172—.0180	2.1%	.0397—.0405	4.6%
.0181—.0189	2.2%	.0406—.0414	4.7%
.0190—.0198	2.3%	.0415—.0423	4.8%
.0199—.0207	2.4%	.0424—.0432	4.9%
.0208—.0216	2.5%	.0433—and over	5.0%

[The maximum basic contribution rate for fiscal years
beginning on or after July 1, 1978 shall be as follows:

Maximum Basic
Fiscal Year Beginning                                   Contribution Rate

July 1, 1978                                                 4.2%

July 1, 1979                                                 4.6%

July 1, 1980                                                 5.0%

The basic rates in the above table increased by 2.0
percent shall apply for the fiscal year beginning July 1,
1978 provided, however, that in no event shall an employer
be required to pay a total contribution rate greater than
5.0 percent.] For any fiscal year beginning on or after
July 1, [1979] 1980 when the fund balance on the computation
date equals or exceeds 4.5 percent but is not in excess of
5.5 percent of the total taxable wages in covered
employment for the immediately preceding calendar year, the
table of basic rates shall apply.

For any fiscal year beginning on or after July 1,
[1979,] 1980, when the fund balance on the computation date
is less than 4.5 percent or equals or is in excess of 5.5
percent of the total taxable wages in covered employment for
the immediately preceding calendar year, the rates at which
employers shall be required to pay contributions shall be in
accordance with the table of basic rates, adjusted as shown
in the table of basic rate adjustments set forth below, but
in no event shall an employer be granted less than an 0.1
percent nor more than [5.0] 6.0 percent rate in any fiscal
year. HOWEVER, FOR THE FISCAL YEAR BEGINNING ON JULY 1,
1980, THE ADJUSTMENT TO ANY EMPLOYER'S BASIC RATE MAY NOT
EXCEED AN INCREASE OF 1.5 PERCENT.

For the purposes of this subsection, the term "fund
balance" means the total amount available for benefits in
the unemployment insurance fund, including amounts
receivable by the fund as federal reimbursements for
sharable benefits under the "Federal-State Extended
Unemployment Compensation Act of 1970" and all amounts
receivable from any eligible employer who elects to
reimburse the fund for benefit charges to his account in
lieu of contributions and the term "total taxable wages"
means the wages paid in a calendar year by all employers
subject to this article, except governmental entities who
elect in accordance with Section 8(f) to be liable for
payments in lieu of contributions.