"Taxable wages" means the wages paid to an individual with respect to employment during a calendar year for services covered by the Employment Security Act of 1980 or other state unemployment compensation acts which shall equal fifty percent (50%) 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).

Laws 1983, HB 1223, c. 270, § 2, emerg. eff. June 23, 1983; Amended by Laws 1994, HB 1948, c. 195, § 3, emerg. eff. May 16, 1994.