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Texas Labor Code - Section 203.105. Unemployment Obligation Assessment

Legal Research Home > Texas Lawyer > Labor Code > Texas Labor Code - Section 203.105. Unemployment Obligation Assessment

§ 203.105. UNEMPLOYMENT OBLIGATION ASSESSMENT.  (a) An 
unemployment obligation assessment shall be imposed as provided by 
this section if after January 1 of a year:
		(1)  an interest payment on an advance from the federal 
trust fund will be due and
		the estimated amount necessary to make the interest 
payment is not available in the obligation trust fund or available 
otherwise;  or
		(2)  bond obligations are due and the amount necessary 
to pay in full those obligations, including bond administrative 
expenses, is not available in the obligation trust fund or 
available otherwise.
	(b)  The unemployment obligation assessment rate is the 
total of the amounts required to make the payments necessary under 
Subsections (a)(1) and (2).  The commission shall set the 
unemployment obligation assessment rate in an amount sufficient to 
ensure timely payment of interest under Subsection (a)(1), but not 
exceeding two-tenths of one percent.  The commission shall set the 
unemployment obligation assessment rate in an amount sufficient to 
ensure timely payment of the bond obligations, including 
administrative expenses, and to provide an amount necessary in the 
commission's judgment to enhance investor acceptance of the bonds.  
The rate shall be based on a formula prescribed by commission rule, 
using the employer's experience rating from the previous year.  The 
unemployment obligation assessment rate applies to the same wage 
base to which the employer's unemployment tax applies for the year.
	(c)  The unemployment obligation assessment is due at the 
same time, collected in the same manner, and subject to the same 
penalties and interest as other contributions assessed under this 
subtitle.
	(d)  Revenue from the unemployment obligation assessment 
under this section shall be deposited to the credit of the 
obligation trust fund under Section 203.102.

Acts 1993, 73rd Leg., ch. 269, § 1, eff. Sept. 1, 1993.  Amended 
by Acts 2003, 78th Leg., ch. 317, § 4, eff. June 18, 2003;  Acts 
2003, 78th Leg., ch. 817, § 6.04, eff. June 20, 2003.

Last modified: August 10, 2007