SB 2

DEL. BLOXOM

1. After line 866, substitute

insert

4. That, if the payroll contribution rate fixed by the Commissioner of the Virginia Employment Commission pursuant to subsection B of § 60.2-806 of the Code of Virginia, as created by this act, is equal to or greater than 2.55 percent of employee wages, then the provisions of this act shall expire. Upon such expiration, no employer shall be required to remit any contributions pursuant to § 60.2-806 of the Code of Virginia, as created by this act; however any person receiving benefits at the time of such expiration shall continue to receive such benefits for the duration described in § 60.2-803 of the Code of Virginia, as created by this act. Once all such benefits have been paid, the Virginia Employment Commission shall provide a refund to employers and covered individuals of any remaining funds in the Family and Medical Leave Trust Fund established under § 60.2-805 of the Code of Virginia, as created by this act.