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January 26, 2012
Mr. President:
The Revenue and Taxation Committee reports a favorable recommendation on S.B. 129,
UNEMPLOYMENT INSURANCE MODIFICATIONS, by Senator C. Bramble, with the
following amendments:
Curtis S. Bramble
Voting: 5-0-2
1. Page
3, Lines 65 through 76
:
65
(2) (a) Subject to Subsection (2)(b), the division shall [calculate] determine the
social
66
contribution rate by dividing all social costs as defined in Subsection
35A-4-307
(1)
applicable
67
to the preceding four fiscal years by the total taxable wages of all employers subject to
68
contributions for the same period, calculated to four decimal places, disregarding any
69
remaining fraction, and [rounded] rounding the result to three decimal places[,
disregarding any
70
further fraction,] as follows:
71
(i) if the fourth decimal place is
.0004
}
four
or less, [or rounding up to
the next higher
72
number,] the third decimal place does not change; or
73
(ii) if the fourth decimal place is
.0005
}
five
or more, rounding the third
decimal place up.
74
75
Subsection (2)(a) is greater than .004, the social contribution rate for calendar year 2012 is
76
.004.
Respectfully,
Committee Chair
3 SB0129.SC1.wpd /PVD PLA/BNC 1/26/12 3:45 pm
Bill Number
*SB0129*
SB0129