GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1993

S	1 

SENATE BILL 852*

Short Title:  Unemp. Insurance Tax Cut.	(Public)
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Sponsors: Senators Kerr; Basnight, Cochrane, Conder, Daniel, Harris, Hoyle, Hunt, Kincaid, Parnell, Plyler, Shaw, Sherron, Soles; Marshall, Carpenter, Warren, Codington, Blackmon, Forrester, Albertson, Martin of Pitt, and Seymour.
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Referred to:  Finance.
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April 14, 1993

A BILL TO BE ENTITLED
AN ACT TO PROVIDE FOR THE REDUCTION OF THE STATE UNEMPLOYMENT INSURANCE TAX RATE UNDER CERTAIN CIRCUMSTANCES.
The General Assembly of North Carolina enacts:
Section 1. G.S. 96-9(b)(3) is amended by adding the following new subparts to read:
"k.	Notwithstanding any other provisions of this Chapter, effective the quarter beginning April 1, 1993, through December 31, 1993, the tax rate assigned to any employer by the experience rating formula table found in G.S. 96-9(b)(3)d. shall be reduced by thirty percent (30%).
l.	Notwithstanding any other provisions of this Chapter, on the computation date in 1993 (August 1) and each computation date thereafter, for any year in which the balance in the Unemployment Insurance Fund as defined in G.S. 96-6(a) equals or exceeds eight hundred million dollars ($800,000,000), the tax rate assigned to any employer by the experience rating formula table found in G.S. 96-9(b)(3)d. shall be reduced by thirty percent (30%)."
Sec. 2. This act is effective upon ratification.