§40-6-205. Technology Fund balance.
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/ok/title-40-labor/40-6-205·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
TECHNOLOGY FUND BALANCE.
The balance of the OESC Technology Fund on July 1 of any given year shall be used in the calculation of conditional factors pursuant to Section 3-113 of this title as long as the OESC Technology Fund has a balance greater than zero (0).
The balance of the fund shall not exceed Twenty-five Million Dollars ($25,000,000.00) prior to June 30, 2024, or be greater than the calculated amount of Twenty-five Million Dollars
($25,000,000.00). All funds in excess of these amounts shall be transferred to the Unemployment Compensation Fund.
The calculation shall be conducted in the following manner: The balance of the OESC Technology Fund as of July 1 of any given year shall be aggregated with the balance of the Unemployment Compensation Fund as of July 1 of the same year, with the resulting sum to be used in the calculation of the conditional factors as set out in Section 3-113 of this title. The aggregate of the two fund balances shall only be for the purpose of the calculation and in no way shall balances in these two funds be commingled. Added by Laws 2017, c. 345, § 13, eff. July 1, 2017. Amended by Laws 2023, c. 346, § 7, eff. Nov. 1, 2023.