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 language that specifies the calculation of the state's reserve ratio, which will now be based on "total wages for contributory employers" and defines this term as all remuneration paid by a "contributory" employer. Additionally, the bill adjusts the threshold for the commissioner to lower the yield factor based on the state's reserve ratio, changing it from 1.00 percent to 0.70 percent.

Furthermore, the bill establishes a specific rate for category twelve in tax year 2025, setting it at 0.48, while also allowing for voluntary contributions by employers to qualify for a rate category reduction. The original section 48-649.03 is repealed, and the bill declares an emergency, allowing it to take effect immediately upon passage and approval.

Statutes affected:
Introduced: 48-649.03