2024 Session

Budget Amendments - SB30 (Floor Approved)

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Fee to Support Administration (language only)

Item 356 #3s

Item 356 #3s

Virginia Employment Commission


Page 412, strike lines 13 through 18, and insert:

"K. Notwithstanding any other provision of law, as of January 1, 2025, tax rates established pursuant to §§ 60.2-531,60.2-515, 60.2-526, 60.2-527, and 60.2-538, are hereby reduced by 0.05 percent.  In addition to these rates, a separate administrative fee equal to 0.05 percent of taxable wages shall be assessed and paid quarterly.  The administrative fee is necessary for the proper and efficient administration of the Virginia Unemployment Compensation Act, § 60.2.  Administrative fees shall: (i) be deposited to the Special Unemployment Compensation Administration Fund pursuant to §60.2-314 and will be used solely by the Commission for critical technology and staffing requirements; (ii) be due and payable to the Commission by each employer in accordance with such regulation as the Commission may prescribe; (iii) be collected through the same means available for collecting taxes, penalties, and interest (interest applicable to unpaid taxes will also apply to the administrative fee); (iv) not be used to calculate the employer's amount of state unemployment taxes paid for Federal Unemployment Tax Act (FUTA) tax liability purposes; and (v) not be deducted, in whole or in part, from employees' wages."


(This amendment updates language provided in the introduced budget bill to allow the Commission to collect an administrative fee to support its operations.)