MAXIMUM BENEFIT AMOUNT.

An otherwise eligible individual shall be entitled during any benefit year to a total amount of benefits equal to whichever is the lesser of:

1. Twenty-six (26) times the weekly benefit amount of the individual;

2. The applicable percentage of the state's average annual wage for the second preceding calendar year as determined by the Commission, rounded to the nearest multiple of One Hundred Dollars ($100.00). The applicable percentage is determined by the conditional factor in place during the calendar year in which the individual files for benefits. The conditional factor is determined pursuant to the provisions of Section 3-113 of this title. The applicable percentages for this paragraph are as follows:

a.twenty-five percent (25%) during any calendar year in which the balance in the Unemployment Compensation Fund is in excess of the amount required to initiate conditional contribution rates, pursuant to the provisions of Section 3-113 of this title,

b.twenty-three and three-fourths percent (23.75%) during calendar years in which condition "a" exists,

c.twenty-two and one-half percent (22.5%) during calendar years in which condition "b" exists,

d.twenty-one and one-fourth percent (21.25%) during calendar years in which condition "c" exists, and

e.twenty percent (20%) during calendar years in which condition "d" exists; or

3. The applicable percentage of the individual's wages for insured work paid during the base period of the individual. The applicable percentage is determined by the conditional factor in place during the calendar year in which the individual files for benefits. The conditional factor is determined pursuant to the provisions of Section 3-113 of this title. The applicable percentages for this paragraph are as follows:

a.fifty percent (50%) during any calendar year in which the balance in the Unemployment Compensation Fund is in excess of the amount required to initiate conditional contribution rates, pursuant to the provisions of Section 3-113 of this title,

b.forty-seven and one-half percent (47.5%) during calendar years in which condition "a" exists,

c.forty-five percent (45%) during calendar years in which condition "b" exists,

d.forty-two and one-half percent (42.5%) during calendar years in which condition "c" exists, and

e.forty percent (40%) during calendar years in which condition "d" exists.

Added by Laws 1980, c. 323, § 2-106, eff. July 1, 1980. Amended by Laws 1983, c. 270, § 5, emerg. eff. June 23, 1983; Laws 1986, c. 205, § 2, emerg. eff. June 6, 1986; Laws 1998, c. 161, § 6, eff. July 1, 1998.