Page 90

76 PENNSYLVANIA UNEMPLOYMENT COMPENSATION LAW PENNSYLVANIA UNEMPLOYMENT COMPENSATION LAW PENNSYLVANIA UNEMPLOYMENT COMPENSATION LAW

to be used in setting surcharge and contribution rates for the contributions

required under sections 301.2, 301.4 and 301.5 and in setting the benefit

reduction required under section 404(e)(4) for the following calendar year.

The secretary shall

(1) add the principal amount of outstanding bonds under Article XIV and the a

mount of outstanding advances under Title XII of the Social Security Act

(58 Stat. 790, 42 U.S.C. § 1321 et seq.) and subtract that sum from the

balance in the Unemployment Compensation Fund;

(2) determine the average of the benefit costs for the three immediately

preceding fiscal years; and

(3) calculate the percentage that the amount determined under paragraph (1)

represents of the average of the benefit costs.

((a) amended June 12, 2012, P.L.577, No.60)