Senate Bill No. 911 amends the Employment Security Act of 1980 by adjusting the unemployment tax rates for employers. The bill reduces the applicable percentages for various conditional factors, changing them from 42.5% to 41.25%, from 45% to 42.5%, from 47.5% to 43.75%, and from 50% to 45%. It also introduces a new Conditional Factor Rate table that specifies contribution rates based on employers' benefit wage ratios and the balance of the unemployment compensation fund. Additionally, the bill removes the formula for benefit wage ratio increases, simplifying the calculation process for employers.

Moreover, the bill raises the minimum balance requirement for the Unemployment Compensation Fund from $25 million to $50 million, ensuring its financial stability. It grants the Oklahoma Employment Security Commission additional authority to manage the fund during a state of emergency, including the ability to claim federal emergency relief funds and adjust surcharges. The effective date for these amendments is set for November 1, 2025, contingent upon a favorable committee report.