§ 60.2-537. Reduced tax rate permissible under federal amendment
Notwithstanding the provisions of §§ 60.2-500 through 60.2-536, if § 3303 of the Internal Revenue Code is amended so as to allow an additional credit under § 3302 (b) of the Internal Revenue Code to employers not otherwise eligible for a reduced rate by reason of the lapse of insufficient time since first becoming subject to this title, the Commission, by a regulation promulgated under § 60.2-111, shall fix and determine the tax rate of all such employers at such reduced rate as shall then be permissible under such federal amendment.
(Code 1950, § 60-76.1; 1956, c. 440; 1968, c. 738, § 60.1-90; 1986, c. 480.)
Sections: Previous 60.2-529 60.2-530 60.2-531 60.2-532 60.2-533 60.2-534 60.2-535 60.2-536 60.2-536.1 60.2-536.2 60.2-536.3 60.2-536.4 60.2-536.5 60.2-537 60.2-538 NextLast modified: April 16, 2009