44-776. Annual report by secretary concerning the employment security fund; recommendations; expiration of section. (a) On or before January 31 of each calendar year, the secretary of labor shall transmit to the standing committee on commerce of the senate and the standing committee on commerce, labor and economic development of the house of representatives or any successor committee, a report, based on information received or developed by the department of labor, concerning the employment security trust fund, unemployment benefit claims and employer contributions to the employment security trust fund. Such report shall contain the following information:

(1) The amount of claims for the 12-month period ending on June 30 of the previous calendar year;

(2) the actual and projected amount of claims for the 12-month period beginning on July 1 of the previous calendar year;

(3) the amount of employer contributions for the 12-month period ending on June 30 of the previous calendar year and current employer contribution rates;

(4) the actual and projected amount of employer contributions for the 12-month period beginning on July 1 of the previous calendar year and ending on June 30 of the current calendar year and projected employer contribution rates for the next succeeding calendar year;

(5) the balance of the employment security trust fund on June 30 of the previous calendar year and the current balance of the fund; and

(6) the projected balance of the employment security trust fund on June 30 of the current calendar year and on January 1 of the next succeeding calendar year.

(b) In arriving at the amount of employer contributions to the employment security trust fund pursuant to subsection (a)(3), and the projected amount of employer contributions pursuant to subsection (a)(4), contributions paid or projected to be paid on or before July 31 following the respective 12-month period ending date of June 30 shall be considered.

(c) The secretary may include in the report any recommendations of the secretary regarding changes in contribution rates or the contribution rate tables. If the secretary makes recommendations, the secretary shall include projections of changes to employer contribution rates and to the balance of the employment security trust fund if the secretary's recommendations were adopted by the legislature.

(d) The provisions of this section shall expire on February 1, 2024.

(e) This section shall be a part of and supplemental to the employment security law.

History: L. 2021, ch. 92, § 7; May 13.