What changed in SF 607

36. “Taxable wages” means an amount of wages upon which an employer is required to contribute based upon wages which that have been paid in this state during a calendar year to an individual by an employer or the employer’s predecessor, in this state or another state which extends a like comity to this state, with respect to employment, upon which the employer is required to contribute, which equals the greater of the following:

a. Sixty-six and two-thirds Thirty-three and one-third percent of the statewide average weekly wage which that was used during the previous calendar year to determine maximum weekly benefit amounts, multiplied by fifty-two and rounded to the next highest multiple of one hundred dollars.

b. That portion of wages subject to a tax under a federal law imposing a tax against which credit may be taken for contributions required to be paid into a state unemployment compensation fund.

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2. Section 96.7, subsection 2, paragraph c, subparagraphs (1) and (2), Code 2025, are amended to read as follows:

(1) A nonconstruction contributory employer newly subject to this chapter shall pay contributions at the rate specified in the twelfth fourth benefit ratio rank but not less than one percent until the end of the calendar year in which the employer’s account has been chargeable with benefits for twelve consecutive calendar quarters immediately preceding the computation date.

(2) A construction or landscaping contributory employer, as defined under rules adopted by the department pursuant to chapter 17A, which that is newly subject to this chapter shall pay contributions at the rate specified in the twenty-first ninth benefit ratio rank until the end of the calendar year in which the employer’s account has been chargeable with benefits for twelve consecutive calendar quarters.

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3. Section 96.7, subsection 2, paragraph d, subparagraph (1), Code 2025, is amended to read as follows:

(1) The current reserve fund ratio is computed by dividing the total funds available for payment of benefits, on the computation date or on August 15 following the computation date if the total funds available for payment of benefits is a higher amount on August 15, by the total wages paid in covered employment excluding reimbursable employment wages during the first four calendar quarters of the five calendar quarters year immediately preceding the computation date. However, in computing the current reserve fund ratio, beginning July 1, 2007, one hundred fifty million dollars shall be added to the total funds available for payment of benefits on each computation date.

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4. Section 96.7, subsection 2, paragraph d, subparagraph (2), subparagraph division (a), Code 2025, is amended by striking the subparagraph division.

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5. Section 96.7, subsection 2, paragraph d, subparagraph (2), subparagraph division (b), Code 2025, is amended by striking the subparagraph division and inserting in lieu thereof the following: