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--- version:Acts Chapter 188
+++ version:(document, no version)
@@ -1,62 +1,32 @@
-CHAPTER 188
-Legislative Research Commission PDF Version
+SENATE
 
-1
-CHAPTER 188
-( SB 129 )
-AN ACT relating to unemployment insurance.
-Be it enacted by the General Assembly of the Commonwealth of Kentucky:
-Section 1.   KRS 341.243 is amended to read as follows:
-(1) There is created within the State Treasury a special fund known as the service capacity upgrade fund that shall
-be administered separate and apart from all public money or funds of the state.
-(2) The service capacity upgrade fund shall be used solely for a cquisition and upgrading of the technology base,
-program integrity functions, and service delivery capacity in support of the programs administered by the
-Office of Unemployment Insurance. The secretary shall have full power, authority, and jurisdiction ov er the
-fund, including all money, property, and securities belonging thereto, and shall perform any act necessary or
-convenient in the administration of the fund consistent with this section. Any expenditure of the fund to
-upgrade the technology base  shall be coordinated with and approved by the Commonwealth Office of
-Technology, and nothing in this section shall be construed as reducing or limiting the authority of the
-Commonwealth's chief information officer over all technology expenditures. The secretary  shall provide an
-annual report to the Interim Joint Committee on Economic Development and Workforce Investment detailing
-all receipts and expenditures of the fund.
-(3) Any money collected under the provisions of this section shall be invested at interest in banks or other interest-
-bearing obligations of the United States. Investments shall at all times be made so that all the assets of the
-service capacity upgrade fund shall be convertible into cash when needed for the payment of expenses incurred
-in upgra ding the service capacity of the Office of Unemployment Insurance. All interest income received
-under this section shall be credited to the fund. The State Treasurer shall dispose of securities or other property
-belonging to the fund only under the directi on of the secretary and the secretary of the Finance and
-Administration Cabinet.
-(4) From[Beginning] October 1, 2018, to December 31, 2026,  all rates otherwise established under KRS 341.270
-and 341.272 shall be adjusted by subtracting seventy -five thousand ths percent (0.075%) from each rate, but
-only if the unemployment insurance trust fund balance exceeds the balance of the trust fund as of December
-31, 2017.
-(5) (a) Beginning January 1, 2027, all rates otherwise established under KRS 341.270 and 341.272 s hall be
-adjusted by subtracting one hundred fifteen ten-thousandths percent (0.0115%) from each rate;
-(b) The secretary shall annually set the adjustment percentage to be effective January 1 of the
-subsequent year, not to exceed twenty-five thousandths percent (0.025%).
-(c) The secretary shall suspend the subtraction from each rate as prescribed in this subsection at any
-time:
-1. The service capacity upgrade fund balance is fifteen million dollars ($15,000,000) or more; or
-2. The unemployment insurance trus t fund does not exceed the balance of the trust fund as of
-December 31, 2022.
-(6)[(5)] For any calendar year in which all rates have been reduced in accordance with subsection (4) or (5) of
-this section, all contributory employers shall pay into the servic e capacity upgrade fund an amount equal to the
-percentage by which rates were reduced multiplied by their taxable wages paid during that calendar year.
-Payments shall be made at the same time and in the same manner as prescribed for payment of contribution s
-under KRS 341.260 and all regulations prescribed by the secretary in support of that section. The restrictions
-in KRS 341.470(1) apply equally to the provisions of this section. Failure to make these payments shall be
-subject to interest and all other co llection actions provided for failure to make contributions under KRS
-341.300.
-(7)[(6)] All payments required under subsection (6)[(5)] of this section, along with any interest due to late
-payment of these assessments, shall be deposited in the service capacity upgrade fund.
-ACTS OF THE GENERAL ASSEMBLY 2
-(8)[(7)] Notwithstanding subsection (4) or (5) of this section, the secretary may exercise his or her discretion to
-reduce the percentage rate prescribed in subsection (4) or (5) of this section or suspend required payments to
-the service capacity upgrade fund at any time.[
-(8) The secretary shall suspend the reduction of the rate prescribed in subsection (4) of this section at any time
-when collections for the service capacity upgrade fund exceed a cumulative amount of sixty million dol lars
-($60,000,000). At the time payments are suspended, any funds thus far collected under subsection (4) of this
-section in excess of those necessary to fund technology upgrades, shall be deposited into the unemployment
-insurance trust fund. Any future co llection of past due payments to the service capacity upgrade fund,
-including any applicable penalty and interest funds, shall be deposited into the penalty and interest fund.]
-Signed by Governor April 17, 2026.
+KENTUCKY GENERAL ASSEMBLY AMENDMENT FORM
+
+2026 REGULAR SESSION
+
+Amend printed copy of SB 129
+
+Amendment No. SFA 1  Rep. Sen. Michael J. Nemes
+
+Committee Amendment   Signed:
+
+Floor Amendment   LRC Drafter:
+
+Adopted:   Date:
+
+Rejected:   Doc. ID: XXXX
+
+Page 1 of 1
+  On page 2, delete lines 7 through 11 in their entirety and insert the following in lieu
+thereof:
+"(5) (a) Beginning January 1, 2027, all rates otherwise established under KRS 341.270 and
+341.272 sh all be adjusted by subtracting one hundred fifteen ten -thousandths
+percent (0.0115%) from each rate.
+(b) The secretary shall annually set the adjustment percentage to be effective January
+1 of the subsequent year, not to exceed twenty-five thousandths percent (0.025%).
+(c) The secretary shall suspend the subtraction from each rate as prescribed in this
+subsection at any time:
+1. The service capacity upgrade fund balance is fifteen million dollars
+($15,000,000) or more; or
+2. The unemployment insurance trus t fund balance exceeds the balance of the
+trust fund as of December 31, 2022."