Page 60

No. 76 Page 60 of 74 2023

VT LEG #371318 v.1 (I) For 1972, two-tenths of one percent of its total payroll for 1971. (II) For years after 1972, such a percentage of its total payroll for the immediately preceding calendar year as that the Commissioner shall determine. The determination shall be determines to be appropriate based each year on the average benefit costs attributable to service in the employ of nonprofit organizations during the preceding calendar year. (III) For The Commissioner may determine a different rate for any organization which that did not pay wages throughout the four calendar quarters of the preceding calendar year, such percentage of its payroll during that year as the Commissioner shall determine. (iii) At the end of each calendar year, the Commissioner may modify the quarterly percentage of payroll thereafter payable by the nonprofit organization in order to minimize excess or insufficient payments. (iv) At the end of each calendar year, the Commissioner shall determine whether the total of payments for such the year made by a nonprofit organization is less than, or in excess of, the total amount of regular benefits plus one-half of the amount of extended benefits paid to individuals during such the taxable year based on wages attributable to service in the employ of such the organization. Each nonprofit organization whose total payments for such the year are less than the amount so determined shall be liable for payment of the unpaid balance to the Trust Fund in accordance with