§ 60.2-537 Reduced tax rate permissible under federal amendment
Notwithstanding the provisions of §§ 60.2-500 through 60.2-536, if § 3303 of the Internal Revenue Code is amended so as to allow an additional credit under § 3302 (b) of the Internal Revenue Code to employers not otherwise eligible for a reduced rate by reason of the lapse of insufficient time since first becoming subject to this title, the Commission, by a regulation promulgated under § 60.2-111, shall fix and determine the tax rate of all such employers at such reduced rate as shall then be permissible under such federal amendment.
History
The record of this law’s original creation isn’t available online. It has been modified 3 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1956, chapter 440; in 1968, chapter 738; in 1986, chapter 480.
Code 1950, § 60-76.1; 1956, c. 440; 1968, c. 738, § 60.1-90; 1986, c. 480.