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Tex. Lab. Code § 204.061

CEILING AND FLOOR OF COMPENSATION FUND

Known as the Texas Unemployment Compensation Act

The act spans §§ 201–215 (345 sections).

Acts 1993, 73rd Leg., ch. 269, Sec. 1, eff

In computing the tax rates under this subchapter:

(1) the ceiling of the compensation fund is two percent of the total taxable wages for the four calendar quarters ending the preceding June 30; and

(2) the floor of the compensation fund is equal to the greater of:

(A) $400 million; or

(B) one percent of the total taxable wages for the four calendar quarters ending the preceding June 30.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.