2006 Code of Virginia § 60.2-506 - Financing of benefits to state employees

60.2-506. Financing of benefits to state employees.

A. The Commonwealth of Virginia shall have the option to:

1. Treat all of its branches of government and all of its instrumentalitiesas one employer;

2. Treat each branch of government, judicial, executive, and legislative, asan individual employer; or

3. Treat each of its instrumentalities as an individual employer.

4. The option described herein shall be exercised by the Governor.

B. If the option contained in subdivision 1 of subsection A of this sectionis exercised, the Commonwealth may elect to finance benefits to its employeesby either taxes, as set forth in 60.2-526 through 60.2-533, or payments inlieu of taxes.

C. If the option contained in either subdivision 2 or 3 of subsection A ofthis section is exercised, each such individual employer may elect to financebenefits to its employees by either taxes, as set forth in 60.2-526through 60.2-533, or payments in lieu of taxes.

D. If the election to make payments in lieu of taxes is exercised, paymentsshall be made into the fund in an amount equivalent to the amount of regularand extended benefits paid that is attributable to service in the employ ofthe Commonwealth. If benefits paid to an individual are based on wages paidby more than one employer and one or more employers are liable for paymentsin lieu of taxes, the amount payable to the fund by each employer that isliable for such payments shall be determined in accordance with theprovisions of 60.2-504.

E. Payments made in lieu of taxes by the Commonwealth into the UnemploymentTrust Fund shall be made at such times and in such manner as the Commissionmay determine and prescribe.

(1971, Ex. Sess., c. 235, 60.1-89.1; 1977, c. 330; 1979, c. 634; 1986, c.480.)