{"data":{"id":"us-ky/krs-341.127","jurisdiction":"us-ky","citation":"KRS 341.127","heading":"Reports by cabinet.","body":"(1) By December 1, 2021, and annually thereafter until December 1, 2025, the cabinet\nshall report to the Governor and the Interim Joint Committee on Economic\nDevelopment and Workforce Investment:\n(a) The status of the unemployment trust fund, including any fed eral advances\nrequired for trust fund solvency;\n(b) The average claim duration for individuals receiving unemployment benefits;\nand\n(c) The average weekly wage for individuals receiving unemployment benefits.\n(2) By December 1, 2021, the cabinet shall report to the Governor and the Interim Joint\nCommittee on Economic Development and Workforce Investment a review of the\namount of wages subject to tax. The review shall include:\n(a) An analysis of the equitable treatment of employers based on the amount of\nwages subject to tax;\n(b) A comparison of the percentage of wages subject to tax for small, medium,\nand large businesses; and\n(c) Examples of how changes to the amount of wages subject to tax would impact\ntrust fund balances and employer contributions.\n(3) By December 1, 2022, and annually thereafter until December 1, 2025, the cabinet\nshall report to the Governor and the Interim Joint Committee on Economic\nDevelopment and Workforce Investment and provide analysis of the impact of the\nshared work benefits desc ribed in KRS 341.4161 to 341.4173, the unemployment\ntrust fund, and unemployment insurance taxes paid by employers.\n(4) By December 1, 2023, the cabinet shall report to the Governor and the Interim Joint\nCommittee on Economic Development and Workforce Inve stment a review of\npotential changes to the computation of employer contribution rates and how these\nchanges could affect employer contribution rates and the unemployment insurance\ntrust fund. Potential changes considered in the analysis shall include:\n(a) Setting the number of consecutive calendar quarters for a new employer to\nreceive his or her own unique experience rating at four (4) consecutive\ncalendar quarters under KRS 341.270 and 341.272;\n(b) Changing the computation of the \"reserve ratio\" formu la in KRS\n341.270(5)(c) to include an annual average of taxable payrolls of twelve (12)\nconsecutive calendar quarters;\n(c) Making any amendments to the rate schedule table in KRS 341.270 based on\nchanges listed in paragraphs (a) and (b) of this subsection to ensure\nunemployment insurance trust fund sustainability;\n(d) Charging benefits to employers in proportion to base period wages rather than\nthat of the most recent employer;\n(e) Indexing the unemployment insurance trust fund balance computations in\nKRS 341.270(3) to inflation and making annual adjustments thereafter; and\n(f) Indexing the taxable wage base to inflation and making annual adjustments\nthereafter, pursuant to KRS 341.030.\n(5) This section expires on January 31, 2026.","path":["KRS Chapter 341"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=54207","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:28Z","sha256":"eae878ac86cb9881190e18128609c6ca8667baf90b967e488176e7a2a5cbdce0","source_id":"us-ky","stale":false,"prev":"us-ky/krs-341.126","next":"us-ky/krs-341.129"},"notice":"GroundRules: Original legal text. Not legal advice."}