                                 CODE OF VIRGINIA

POOL COST CHARGES (§ 60.2-532)

A. As of January 1 of each year, to all experience rating tax rates established
pursuant to &#xA7; 60.2-531, to all assigned tax rates established pursuant to
&#xA7;&#xA7; 60.2-515, 60.2-526, 60.2-527 and 60.2-538, there shall be added the
pool cost charges as determined in subsection B of this section.

B. The pool cost charge rate rounded to the nearest one-hundredth of a percent
shall be determined as follows:

   1. Pool costs for a given calendar year shall be those costs defined in
   subdivision 2 of this subsection for the thirty-six consecutive calendar month
   period ending on June 30 immediately preceding that calendar year. The pool
   cost charge rate shall be pool costs divided by payrolls for such period.

   2. Pool costs shall consist of (i) benefit charges which cannot be assigned to
   an individual employer pursuant to &#xA7;&#xA7; 60.2-210, 60.2-212 through
   60.2-219, or subsection C of &#xA7; 60.2-528, or cannot be charged to an
   individual employer due to his becoming an inactive account pursuant to &#xA7;
   60.2-210 or &#xA7; 60.2-509, (ii) the difference in the amount the Commission
   pays pursuant to subdivision 2 of subsection A of &#xA7; 60.2-609 and the
   amount the Commission receives pursuant to subdivision 3 of subsection A of
   &#xA7; 60.2-609, and (iii) the difference between the benefit charges of all
   employers with a maximum experience rating tax rate and the amount of the
   taxes resulting from applying the maximum experience rating tax rate against
   the payrolls of the same employers. The term &#8220;payrolls&#8221; as used in
   this section shall mean the taxable payroll on which taxes have been paid on
   or before September 30 immediately following such June 30.

   3. When the fund balance factor for the most recent twelve-month period ending
   on June 30 of the immediately preceding calendar year is greater than fifty
   percent, interest earned on the balance which shall stand to the credit of the
   account of the Commonwealth of Virginia in the Unemployment Trust Fund in the
   treasury of the United States shall be subtracted from pool costs, except that
   in no instance shall pool costs be less than zero.

HISTORY: 1981, c. 606, § 60.1-84.2; 1984, c. 458; 1986, c. 480; 1987, c. 114;
1990, c. 908; 1993, c. 249.