5026

VETOES

If the successor is an employer at the time of the
transfer, and has been assigned a contribution rate pursuant
to the provisions of this subsection, he shall continue to
pay contributions at such previously assigned rate from the
date the transfer occurred through the next June 30.

If the successor is not an employer at the time of the
transfer and acquires the business of one employer or the
business of two or more employers with the same rate he
shall pay contributions at the rate assigned to the
predecessor employer or employers from the date the transfer
occurred through the next June 30.

If the successor is not an employer at the time of the
transfer, and simultaneously acquires the businesses of two
or more employers with different rates of contributions, his
rate from the date the transfer occurred through the next
June 30 shall be a recomputed rate based on the combined
experience of his predecessor as of the regular computation
date for the fiscal year in which the transfer occurred.

In all cases, from and after July 1 following the
transfer, the successor's rate of contribution for each
fiscal year shall be based on his experience with payrolls
and benefits combined with the experience of his predecessor
or predecessors, as of the regular computation date for that
fiscal year. A successor employer shall be deemed to have
met the requirements of subsection (c)(3) of this section if
he or any one of his predecessors has had the experience
with benefit charges and payrolls which is required by
subsection (c)(3).

No successor employer shall qualify for a reduced rate
of contributions from the date of transfer by virtue of that
transfer unless he shall report the transfer and apply for a
reduced rate to the Executive Director within 120 days of
the date of the transfer in a manner and form to be
prescribed by the Executive Director. In the event the
transfer is not reported within this time, the earned rate
shall be assigned to the successor as of the first day of
the first quarter after the transfer is actually reported.
Nothing in this section shall be construed as preventing the
Executive Director, where a transfer has occurred as
described above, resulting in a higher rate of contribution
to the successor employer from combining the
experience-rating record of the two employing units and for
purposes of rate determination transferring to the successor
employer the payroll record and benefit charges of the
predecessor at any time.

(7) An employer who transfers all or part of his
operations from another state to this State and has had, in
that other state, for a period of not less than three (3)