This bill amends existing laws regarding unemployment compensation in Wyoming, specifically addressing the maximum contributions that employers may be charged for the unemployment compensation fund. The base rate of contributions assigned to employers is set at eight and one-half percent (8.5%) for 1988 and each subsequent year, with provisions for rate variations. Notably, the bill introduces a cap stating that no employer shall be required to contribute more than one dollar ($1.00) per employee in a calendar year when combining the base rate with any rate variations or adjustment factors. Additionally, it specifies that the total contribution required from an employer in any calendar year cannot exceed this maximum amount.

The bill also outlines the consequences for employers who fail to pay their contributions, interest, and penalties, including the assignment of a delinquent rate that includes a two percent (2%) tax rate increase. For new employers, the contribution rate will be based on the average rate of contributions paid by their major industrial classification, with a minimum rate of one percent (1%) and a similar maximum contribution cap. The adjustments to the contribution rates and the establishment of experience periods for new employers are also detailed, ensuring that the total contributions do not exceed the specified maximum. The act is set to take effect on January 1, 2026.

Statutes affected:
Introduced: 27-3-503, 27-3-505