(1) "Account balance" means the amount a political subdivision has paid into the Local Government Employer Benefit Trust Fund less the amount of unemployment benefits paid by the Employment Department on behalf of the political subdivision.

(2) "Account reserve ratio" means the ratio, expressed as a percent carried to four decimal places, that is equal to:

(a) The account balance of the political subdivision on June 30, divided by gross wages paid by the political subdivision to individuals subject to ORS chapter 657 during the four calendar quarters ending on June 30; or

(b) For purposes of a redetermination made pursuant to ORS 294.735 (2)(b), the account balance of the political subdivision on the date of the request, divided by gross wages paid by the political subdivision to individuals subject to ORS chapter 657 during the last four-calendar-quarter period ending before the date of the request.

(3) "Aggregate benefit cost rate" means the total unemployment benefits paid during a cost rate period that is attributable to wages paid by all political subdivisions divided by the gross wages paid to individuals subject to ORS chapter 657 during the cost rate period by all political subdivisions. The rate shall be expressed as a percent and rounded to the nearest one-tenth of one percent.

(4) "Benefit cost rate" means the total unemployment benefits paid during a cost rate period that is attributable to wages paid by a political subdivision divided by gross wages paid to individuals subject to ORS chapter 657 during the cost rate period by the political subdivision. The rate shall be expressed as a percent and carried to four decimal places.

(5) "Cost rate period" means:

(a) The prior three-year period ending June 30 of each year; or

(b) For purposes of a redetermination made pursuant to ORS 294.735 (2)(b), the three-year period ending on the last day of the last four-calendar-quarter period that ends before the date of the request.

(6) "Department" means the Employment Department.

(7) "Director" means the Director of the Employment Department.

(8) "Erroneous benefit payments" means any amount paid to an individual to which the individual is not entitled due to:

(a) Any error, whether or not due to misrepresentation or nondisclosure of material fact by the claimant; or

(b) An initial decision to pay benefits that is subsequently reversed by a decision finding the individual was not eligible for the benefits and the decision has become final.

(9) "Local Government Employer Benefit Trust Fund" or "fund" means the fund created by ORS 294.730.

(10) "Political subdivision" means a political subdivision as defined by ORS 657.097.

(11) "Unemployment benefits" or "benefits" means regular and extended benefits paid under ORS chapter 657. [1977 c.491 §3; 1989 c.135 §1; 1993 c.344 §9; 2007 c.71 §91; 2011 c.569 §1]