This text of Wyoming § 27-3-516 (Incremental bond for impact industries) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
(a)Any project in Wyoming with an estimated construction
cost equal to or greater than the threshold construction cost
defined by the industrial siting council pursuant to W.S.
35-12-102(a)(vii), a majority of which is planned to be
completed or discontinued within a period of seven (7) years,
and which will require the employment of at least two hundred
fifty (250) people is subject to this section. After the
project is initiated, each employing unit working on a project
which meets the criteria specified under this section shall
report annually to the department any change in contract bids
within the state as may have been determined under subsection
(b)of this section.
(b)If the department determines that the project is
within the criteria stated by this section, it may assess and
co
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(a) Any project in Wyoming with an estimated construction
cost equal to or greater than the threshold construction cost
defined by the industrial siting council pursuant to W.S.
35-12-102(a)(vii), a majority of which is planned to be
completed or discontinued within a period of seven (7) years,
and which will require the employment of at least two hundred
fifty (250) people is subject to this section. After the
project is initiated, each employing unit working on a project
which meets the criteria specified under this section shall
report annually to the department any change in contract bids
within the state as may have been determined under subsection
(b) of this section.
(b) If the department determines that the project is
within the criteria stated by this section, it may assess and
collect from the general or prime contractor or, in those
situations where there is no general or prime contractor, the
owner for whom the project is being constructed, on behalf of
each employing unit, an additional amount of one-half percent
(.5%) times the successful bid amount on the project awarded to
each employing unit but not to exceed one-half percent (.5%)
times the total amount allowed under all bids accepted under the
project. The amount is in addition to any other contribution
required by this act and shall be treated as incremental bond
payments to insure payment for all benefits ultimately claimed.
The payments are not contributions until the ultimate
determination of liability is made under subsection (d) of this
section. The department shall amend the amount assessed under
this section in accordance with any increases in contract bids
reported by an employing unit under subsection (a) of this
section. An employing unit may be enjoined by the department
from engaging or continuing in business until all payments
required under this subsection are made.
(c) Repealed by Laws 1986, ch. 52, § 2.
(d) The amount collected under this section shall be
credited to a separate account. Within one (1) year after
completion or discontinuance of the project or after an
employing unit completes its phase of the work, the department
shall determine the total benefits paid to employees of the
employing unit or units and if total contributions made by the
units under W.S. 27-3-503 exceed total benefits paid to the
employees of the units, the difference plus accrued interest
shall be refunded to the appropriate general or prime contractor
or the owner who paid the additional contribution under
subsection (b) of this section but not exceeding the amount
paid under this section plus accrued interest. The amount not
refunded shall be credited to the unemployment compensation
fund.
(e) Repealed By Laws 2007, Ch. 177, § 2.