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. Key changes include the introduction of the phrase "for contributory employers" to clarify the context of total wages and the adjustment of the state's reserve ratio threshold from 1.00 percent to 0.70 percent for determining the yield factor. Additionally, the bill establishes that in tax year 2025, the average combined tax rate will be set at 0.48 for category twelve, with rates for other categories calculated based on this average.

The bill also repeals the original section 48-649.03 and declares an emergency, allowing the act to take effect immediately upon passage and approval. This legislative change aims to refine the tax rate calculation process for employers, ensuring a more equitable distribution of tax responsibilities based on their experience ratings and reserve ratios.

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