Page:United States Statutes at Large Volume 76.djvu/95

 76 STAT. ]

47

PUBLIC LAW 87-424-MAR. 30, 1962

SEC. 2. The first section of the District of Columbia Unemployment Compensation Act (D.C. Code, sec. 46-301) is further amended by adding at the end thereof the following: " (v) The term 'insured work' means employment for employers." SEC. 3. Section 3(c)(1) of the District of Columbia Unemployment Compensation Act (D.C. Code, sec. 46-303 (c)(1)) is amended to read as follows: "(1) The Board shall maintain a separate account for each employer, and shall credit his account with all of the contributions paid by him after June 30, 1939, with respect to employment subsequent to May 31, 1939. Each year the Board shall credit to each of such accounts having a positive reserve on the computation date, the interest earned from the Federal Government in the following manner: Each year the ratio of the credit balance in each individual account to the total of all the credit balances in all employer accounts shall be computed as of such computation date, and an amount equal to the interest credited to the District's account in the unemployment trust fund in the Treasury of the United States for the four most recently completed calendar quarters shall be credited prior to the next computation date on the pro rata basis to all employers' accounts having a credit balance on the computation date. Such amount shall be prorated to the individual accounts in the same ratio that the credit balance in each individual account bears to the total of the credit balances in all such accounts. In computing the amount to be credited to the account of an employer as a result of interest earned by funds on deposit in the unemployment trust fund in the Treasury of the United States to the account of the District, any voluntary contribution made by an employer after June 30 of any year shall not be considered a part of the account balance of the employer until the next computation date occurring after such voluntary contribution was made. Nothing in this Act shall be construed to grant any employer or individual in his service prior claims or rights to the amounts paid by him into the fund either on his own behalf or on behalf of such individuals," SEC. 4. Section 3(c)(8)(i) of the District of Columbia Unemployment Compensation Act (D.C. Code, sec. 46-303(c)(8)(i)) is amended to read as follows: " (i) If as of the computation date the total of all contributions credited to any employer's account, with respect to employment since May 31, 1939, is in excess of the total benefits paid after June 30, 1939, then chargeable or charged to his account, such excess shall be known as the employer's reserve, and his contribution rate for the ensuing calendar year or part thereof shall be— " (A) 2.7 per centum if such reserve is less than 0.8 per centum of his average annual payroll; " (B) 2 per centum if such reserve equals or exceeds 0.8 per centum but is less than 1.3 per centum of his average annual payroll; " (C) 1.5 per centum if such reserve equals or exceeds 1.3 per centum but is less than 1.8 per centum of his average annual payroll; " (D) 1 per centum if such reserve equals or exceeds 1.8 per centum but is less than 2.8 per centum of his average annual payroll; " (E) 0.5 per centum if such reserve equals or exceeds 2.8 per centum but is less than 3.3 per centum of his average annual payroll; " (F) 0.1 per centum if such reserve equals or exceeds 3.3 per centum of his average annual payroll."

68 Stat. 989. •• Insured work.»» 57 Stat. 106. Employer contributions.

68 Stat. 9 9 1. E m p l o y er»!} reserve.

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