State Codes and Statutes
Statutes > Virginia > Title-60-2 > Chapter-5 > 60-2-537§ 60.2-537. Reduced tax rate permissible under federal amendment.
Notwithstanding the provisions of §§ 60.2-500 through 60.2-536, if § 3303 ofthe Internal Revenue Code is amended so as to allow an additional creditunder § 3302 (b) of the Internal Revenue Code to employers not otherwiseeligible for a reduced rate by reason of the lapse of insufficient time sincefirst becoming subject to this title, the Commission, by a regulationpromulgated under § 60.2-111, shall fix and determine the tax rate of allsuch employers at such reduced rate as shall then be permissible under suchfederal amendment.
(Code 1950, § 60-76.1; 1956, c. 440; 1968, c. 738, § 60.1-90; 1986, c. 480.)
