§ 27-3-303 — Weekly amount; computation; payment

(a) Subject to subsection (d) of this section, the weekly
benefit amount for an eligible individual is four percent (4%)
of his total wages payable for insured work in that quarter of
his base period in which his wages were highest computed to the
next lower multiple of one dollar ($1.00). The amount shall not
be more than the statewide weekly wage multiplied by fifty-five
percent (55%) and computed to the next lower multiple of one
dollar ($1.00). The statewide weekly wage is the total wages
reported by employers, excluding the limitation on the amount of
wages subject to contributions under this act, for employment
during the calendar year preceding June 1 divided by the product
of fifty-two (52) times the twelve (12) month average of the
number of employees in the pay period and rounded to the nearest
cent. The statewide average annual wage is the total wages
reported by employers, excluding the limitation on the amount of
wages subject to contributions under this act, for employment
during the calendar year preceding June 1 divided by the twelve
(12) month average of the number of employees in the pay period
and rounded to the nearest cent. The pay period reported by
employers shall include the twelfth day of each month during the
same year. The minimum and maximum weekly benefit paid under
this subsection to any individual applies only to the benefit
year beginning on or after July 1.
(b) Repealed by Laws 1985, ch. 175, § 3.
(c) An eligible individual unemployed in any week shall be
paid his weekly benefit for that week less any earnings payable
to him for that week which exceeds fifty percent (50%) of his
weekly benefit amount. The reported earnings and resulting
payment shall be computed to the next lower multiple of one
dollar ($1.00).
(d) Effective April 1, 1984, and any other time
thereafter, when the revenues in the fund excluding legislative
appropriations and interfund borrowing are certified by the
governor to be inadequate to pay the benefits computed as
provided in subsection (a) of this section and inadequate to
repay interfund or federal loans, the weekly benefit of any
individual whose benefits computed under subsection (a) of this
section would equal or exceed ninety dollars ($90.00) per week
shall be reduced to eighty-five percent (85%) of that computed
under subsection (a) of this section rounded to the next lower
multiple of one dollar ($1.00). No individual receiving benefits
of ninety dollars ($90.00) or more per week shall receive less
than ninety dollars ($90.00) per week because of the reduction
provided under this subsection. The reduced benefits shall
continue until the governor and the state treasurer certify to
the department that the fund is adequately solvent to pay the
benefits computed under subsection (a) of this section. A
reduction in an individual's weekly benefit amount resulting
from the imposition of this provision will not increase the
number of full weeks of benefits to which the individual would
otherwise have been entitled had the provision not been invoked.
The amounts paid under this subsection shall be in complete
satisfaction of a claimant's rights and benefits under this act.
(e) Repealed by Laws 2023, ch. 165, § 2.