PUBLIC LAW 100-647—NOV. 10, 1988
102 STAT. 3769
"(20) MAXIMUM CONTRIBUTION LIMIT.—The maximum contribution limit with respect to a calendar year is 12 percent, unless a 3.5 percent surcharge under paragraph (14) is in effect with respect to that calendar year. If such a surcharge is in effect the maximum contribution limit with respect to that calendar year is 12.5 percent. "(21) SPECIAL RULES FOR CERTAIN COMPUTATIONS UNDER PARAGRAPH (1)(c).—(A) Any computation that is to be made under
paragraph (I)(C) on the basis of a 12-quarter period ending on a given June 30 shall be made on the basis of a period— "(i) beginning on the later of— "a) January 1, 1990; "(II) the first day of the first calendar quarter that begins after the date on which the employer first began to pay compensation subject to this Act; or "(III) July 1 of the third calendar year preceding that June 30; and "(ii) ending on that June 30. "(B) The amount computed under subparagraph (A) shall be increased to an amount that bears the same ratio to the amount so computed as 12 bears to the number of calendar quarters on which the computation is based.". (b) EMPLOYEE REPRESENTATIVE CONTRIBUTION.—Subsection (b) of
section 8 is amended to read as follows: "(b) EMPLOYEE REPRESENTATIVE CONTRIBUTION.—Each employee
representative shall pay a contribution with respect to so much of the compensation paid to him for services performed as an employee representative as is not in excess of the monthly compensation base computed in accordance with section l(i), at a rate which shall be determined under subsection (a) in the same manner and with the same effect as if the employee organization by which such employee representative is employed were an employer as defined in this Act.". (c) EXTENSION OF REMEDIES.—Section 8(h) is amended by adding at the end the following: "The remedies available under the first sentence of this subsection for an employer or employee representative who contests the amount of contributions payable by him shall also apply with respect to a contention that the contribution rate determined by the Board under subsection (a) or (b) to be applicable to such employer or employee representative is inaccurate or otherwise improper.". (d) BOARD PROCLAMATION OF BALANCE.—Section 8 is amended—
(1) by redesignating subsections (c) through (h) as subsections (f) through (k), respectively; and (2) by inserting after subsection (b) the following new subsections: "(c) BOARD PROCLAMATION OF BALANCE.—
"(1) IN GENERAL.—Not later than October 15, 1990, and October 15 of each year thereafter the Board shall proclaim— "(A) the balance to the credit of the account as of the preceding June 30 for purposes of paragraphs (12) and (14) of subsection (a); "(B) the balance of any advances to the account under section ICKd) after September 30, 1985, that has not been repaid with interest as provided in such section as of September 30 of that year;
45 USC 358.
�
