This bill amends section 48-649.03 of the Revised Statutes Cumulative Supplement, 2024, concerning the Employment Security Law, specifically focusing on the calculation of the combined tax rate for employers. The bill introduces new provisions that define the state's reserve ratio, which is now calculated using the total wages for contributory employers, and establishes a new yield factor table based on this reserve ratio. Additionally, it specifies that the average combined tax rate will be assigned to rate category twelve, with a unique rate of 0.48 for tax year 2025.

Furthermore, the bill repeals the original section 48-649.03 and declares an emergency, allowing the act to take effect immediately upon passage and approval. Notably, it includes provisions for voluntary contributions by employers to qualify for a rate category reduction and outlines the consequences for employers who fail to file their combined tax reports on time. The changes aim to streamline the tax rate calculation process and ensure that it reflects the financial status of the Unemployment Trust Fund more accurately.

Statutes affected:
Introduced: 48-649.03
Final Reading: 48-649.03
Slip Law: 48-649.03