1. Each employer liable for contributions pursuant to this chapter, except employers with a contribution rate equal to zero, shall pay an annual unemployment automation adjustment in an amount equal to two one-hundredths of one percent of such employer’s total taxable wages for the twelve-month period ending the preceding June thirtieth.

2. Notwithstanding subsection 1 of this section to the contrary, the division may reduce the automation adjustment percentage to ensure that the total amount of adjustment due from all employers under this section shall not exceed five million dollars annually.

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3. Each employer liable to pay an automation adjustment shall be notified of the amount due under this section by March thirty-first of each year and such amount shall be considered delinquent thirty days thereafter. Delinquent unemployment automation adjustment amounts may be collected in the manner provided under sections 288.160 and 288.170. All moneys collected under this section shall be deposited in the unemployment automation fund established in section 288.132.

4. For the first quarter of each calendar year, the total amount of contribution otherwise due from each employer liable to pay contributions under this chapter shall be reduced by the dollar amount of unemployment automation adjustment due from such employer pursuant to subsection 1 of this section. However, the amount of contributions due from such employer for the first quarter of the calendar year in question shall not be reduced below zero.