HOUSE BILL 482

47th legislature - STATE OF NEW MEXICO - second session, 2006

INTRODUCED BY

Mimi Stewart

AN ACT

RELATING TO UNEMPLOYMENT COMPENSATION; AMENDING THE UNEMPLOYMENT COMPENSATION LAW TO REMOVE A CONTINGENCY FOR DIFFERENT CONTRIBUTION RATES; REMOVING A CONTINGENCY FOR THE EFFECTIVE DATE OF CERTAIN SECTIONS ENACTED BY THE FIRST SESSION OF THE FORTY-SEVENTH LEGISLATURE; DECLARING AN EMERGENCY.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     Section 1. Laws 2005, Chapter 3, Section 11 is amended to read:

     "Section 11. A new section of the Unemployment Compensation Law is enacted to read:

     "TEMPORARY EMPLOYERS' CONTRIBUTION RATE.--Notwithstanding the provisions of Paragraph (2) of Subsection I of Section 51-1-11 NMSA 1978, each employer's rate shall be the corresponding rate in Schedule 0 of the table provided in Paragraph (4) of that subsection for calendar year 2005 and each subsequent calendar year until [the earliest of the following:

          A. January 1, 2008; or

          B. the January 1 following certification to the governor by the secretary of labor that the unemployment compensation fund is less than two and one-half percent of total payrolls pursuant to the computation provided in Paragraph (1) of Subsection I of Section 51-1-11 NMSA 1978] January 1, 2008.""

     Section 2. Laws 2005, Chapter 3, Section 13 is amended to read:

     "Section 13. EFFECTIVE DATE.--The effective date of the provisions of Laws 2005, Chapter 3, Sections 6 through 10 [of this act is the earliest of the following:

          A. January 1, 2008; or

          B. the January 1 following certification to the governor by the secretary of labor that the unemployment compensation fund is less than two and one-half percent of total payrolls pursuant to the computation provided in Paragraph (1) of Subsection I of Section 51-1-11 NMSA 1978] is January 1, 2008."

     Section 3. TEMPORARY PROVISION--COMPILATION INSTRUCTIONS.--The compiler shall compile Laws 2005, Chapter 3, Section 11, as amended by Section 1 of this act as part of the Unemployment Compensation Law.

     Section 4. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.

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