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75 PENNSYLVANIA UNEMPLOYMENT COMPENSATION LAW PENNSYLVANIA UNEMPLOYMENT COMPENSATION LAW PENNSYLVANIA UNEMPLOYMENT COMPENSATION LAW
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75 PENNSYLVANIA UNEMPLOYMENT COMPENSATION LAW PENNSYLVANIA UNEMPLOYMENT COMPENSATION LAW PENNSYLVANIA UNEMPLOYMENT COMPENSATION LAW
(iv) fund early, optional, mandatory or other refundings, redemptions
or purchases of outstanding bonds under Article XIV of this act
that will occur in that year;
(v) pay the interest on interest-bearing advances under Title XII of the
Social Security Act (58 Stat. 790, 42 U.S.C. § 1321 et seq.) that is
due in that year; and
(vi) repay outstanding advances under Title XII of the Social Security
Act.
(2) For calendar year 2013 through the year determined under section
301.8(b)(4), the maximum Interest Factor rate shall be one and
one-tenth per centum (1.1%). For calendar years following the year
determined under section 301.8(b)(4), the maximum Interest Factor
rate shall be one per centum (1.0%).
(d) Contributions paid by or on behalf of an employer under this act, other than
employe contributions under section 301.4, shall be allocated first to the
employer's liability under this section. This subsection shall apply to
contributions for any calendar quarter that ends at a time when bonds
issued under Article XIV are outstanding.
(e) In the event the amount of additional contributions collected under this
section for a calendar year exceeds the amount necessary for the purposes
enumerated in subsection (c) for that year, the department may use such
excess contributions for the purposes enumerated in subsection (c) for
the following year and, to the extent available, to reduce the amount of
additional contributions that would be required for the following year.
(f) No Interest Factor shall be required for any year for which funding is not
required for any of the purposes enumerated in subsection (c). (301.6 amended June 12, 2012, P.L.577, No.60). Compiler’s Note: Section 18(2) of Act 60 of 2012, which amended section 301.6, provided that the amendment of section 301.6 shall apply to calculation of the interest factor for calendar year 2013 and thereafter. Section 301.7. Trigger Determination.--
(a) On July 1 of every year, the secretary shall calculate the trigger percentage