Plain English Breakdown
The specific effective date is missing from the provided source material, so it cannot be stated when the new rate begins.
SB 159: Increasing Contributions for State Training and Employment
This bill increases the contribution rate collected from employees to support Alaska's State Training and Employment Program.
What This Bill Does
- Changes the law so that each employee pays a contribution equal to 0.20 percent of their wages, replacing the previous one-tenth of one percent (0.10 percent).
- Requires the Department of Labor and Workforce Development to collect this money from employees.
- Directs the department to send the collected funds to the Department of Revenue.
Who It Names or Affects
- Employees in Alaska who are required to make contributions under state law for contracts entered into on or after the effective date.
- The Department of Labor and Workforce Development, which collects the money.
- The Department of Revenue, which receives the remitted funds.
Terms To Know
- State Training and Employment Program
- A state program that receives increased contributions to support its operations.
- Contribution
- Money collected from employees based on a percentage of their wages.
Limits and Unknowns
- The new contribution rate only applies to contracts entered into on or after the effective date of this Act.
- The official text does not state when the law will take effect.