HB4248 98TH GENERAL ASSEMBLY

98TH GENERAL ASSEMBLY State of Illinois 2013 and 2014
HB4248

Introduced , by Rep. Dwight Kay

SYNOPSIS AS INTRODUCED:

820 ILCS 405/1506.7 new

Amends the Unemployment Insurance Act. Provides that an employer that has been assigned a contribution rate based upon an experience rating, and has no amounts past due under the Act, may, upon the payment of an amount equivalent to any portion or all of the unemployment benefits used in computing the experience rating, obtain a cancellation of unemployment benefits used equal to the payment made. Contains provisions regarding: application of payments; computation of a new experience rating and contribution rate; and the method and time for making payments.

LRB098 17118 JLS 52205 b

FISCAL NOTE ACT MAY APPLY

A BILL FOR

HB4248

LRB098 17118 JLS 52205 b

1 AN ACT concerning employment.

2 Be it enacted by the People of the State of Illinois,

3 represented in the General Assembly:

4 Section 5. The Unemployment Insurance Act is amended by

5 adding Section 1506.7 as follows:

6 (820 ILCS 405/1506.7 new)

7 Sec. 1506.7. Contribution rate buydown.

8 (a) Upon the payment of an amount equivalent to any portion

9 or all of the unemployment benefits used in computing the

10 experience rating, an employer that has been assigned a

11 contribution rate based upon an experience rating and has no

12 amounts past due under this Act may obtain a cancellation of

13 unemployment benefits used equal to the payment made. The

14 payment shall be applied to the most recent unemployment

15 benefits paid that are used in computing the experience rating.

16 Upon the payment, the Department must compute a new experience

17 rating for the employer and compute a new contribution rate.

18 (b) Payments for a contribution rate buydown may be made

19 only by electronic payment and must be received within 120

20 calendar days from the beginning of the calendar year for which

21 the contribution rate is effective.