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1997 SESSION
HB 2668 Unemployment compensation; taxation of successor entities.
Introduced by: Robert Tata | all patrons ... notes | add to my profiles
SUMMARY:
Unemployment compensation; taxation of successor entities. Authorizes successors in ownership to existing businesses to elect either retaining the unemployment tax experience rating of the preceding owner on obtaining a "new employer" rate. Under current law, the predecessor's experience record automatically follows the acquired business. However, prior to 1983 (when the current law was enacted), a successor (with the consent of the preceding owner) was permitted to make the election proposed by this bill. The provisions of this bill are applicable to acquiring entities that--prior to acquisition--are not employers subject to unemployment compensation taxation. New owners must notify the Commission of their election to choose the new employer rate by the later of 60 days following (i) the effective date of the bill or (ii) the date of the business acquisition.
FULL TEXT
- 01/20/97 House: Presented & ordered printed 970572482 pdf
- 01/31/97 House: Printed as engrossed 970572482-E pdf
- 02/20/97 House: Bill text as passed House and Senate (HB2668ER) pdf
- 03/19/97 Governor: Acts of Assembly Chapter text (CHAP0409) pdf
AMENDMENTS
HISTORY
- 01/20/97 House: Presented & ordered printed 970572482
- 01/20/97 House: Referred to Committee on Labor and Commerce
- 01/29/97 House: Reported from L. & C. with amendment (22-Y 0-N)
- 01/30/97 House: Read first time
- 01/31/97 House: Read second time
- 01/31/97 House: Committee amendment agreed to
- 01/31/97 House: Engrossed by House as amended
- 01/31/97 House: Printed as engrossed 970572482-E
- 02/01/97 House: Read third time and passed House (Block Vote) (98-Y 0-N)
- 02/01/97 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 02/01/97 House: Reconsideration of passage agreed to by House
- 02/01/97 House: Passed House (Block Vote) (100-Y 0-N)
- 02/01/97 House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
- 02/01/97 House: Communicated to Senate
- 02/03/97 Senate: Constitutional reading dispensed (36-Y 4-N)
- 02/03/97 Senate: Referred to Committee on Commerce and Labor
- 02/10/97 Senate: Reported from Commerce and Labor (14-Y 0-N 1-A)
- 02/11/97 Senate: Const. reading disp., passed by for the day (40-Y 0-N)
- 02/11/97 Senate: VOTE: CONST. READING DISPENSED (40-Y 0-N)
- 02/12/97 Senate: Read third time
- 02/12/97 Senate: Passed Senate (40-Y 0-N)
- 02/12/97 Senate: VOTE: PASSAGE (40-Y 0-N)
- 02/20/97 House: Bill text as passed House and Senate (HB2668ER)
- 02/26/97 House: Enrolled
- 02/26/97 House: Signed by Speaker
- 02/27/97 Senate: Signed by President
- 03/15/97 Governor: Approved by Governor-Chapter 409 (effective 7/1/97)
- 03/19/97 Governor: Acts of Assembly Chapter text (CHAP0409)