3240

LAWS OF MARYLAND

Ch. 879

The basic rates in the above table increased by [2.0]
1.5 percent shall apply for the fiscal year beginning July
1, [1978] 1980 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] 1981 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] 1981 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 § 8(f) to be liable for payments in
lieu of contributions.

SCHEDULE OF BASIC RATE ADJUSTMENTS

When Ratio Between Fund Balance Employer's Contribution
on Computation Date and Total Basic Rate Shall
Taxable Wages for Prior Year Is

A up to [3.5%] 2.5%--------------------------------Increase by 3.0%

B [3.5%] 2.5% but less

  than [3.6%] 2.7%----------------------------------Increase by 2.7%

C [3.6%] 2.7% but less

than [3.7%] 2.9%----------------------------------Increase by 2.4%

D [3.7%] 2.9% but less

  than [3.8%] 3.1%----------------------------------Increase by 2.1%

E [3.8%] 3.1% but less

than [3.9%] 3.3% -----------------Increase by 1.8%

F [3.9%] 3.3% but less

than [4.0%] 3.5%----------------------------------Increase by 1.5%

G [4.0%] 3.5% but less