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2001 SESSION

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HJ 611 Study; unemployment compensation funding requirements.

Introduced by: John H. Rust, Jr. | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Study; Unemployment compensation funding requirements. Continues the Joint Subcommittee Studying the Funding Requirements of the Virginia Unemployment Trust Fund. The study is expanded to address, but shall not be limited to, (i) the current formula for determining solvency of the Unemployment Trust Fund, (ii) employee benefit eligibility criteria, (iii) the rationale for benefit levels, (iv) the propriety of regional or extended benefit features, (v) the appropriateness and sufficiency of pool charges, (vi) the propriety of diversion of revenue to job training or economic development programs, and (vii) the current tax schedules for employers. This resolution incorporates HJR 784 (Hull), which requires the joint subcommittee to also study the means of calculating the weekly amount of unemployment compensation benefits for displaced employees, and examine the methods used by other states to determine an employee's weekly benefit amount, including the indexing of unemployment benefits and the minimum and maximum benefit amounts provided by those states. This resolution incorporates SJR 395 (Watkins).

SUMMARY AS PASSED HOUSE:

Study; Unemployment compensation funding requirements. Continues the Joint Subcommittee Studying the Funding Requirements of the Virginia Unemployment Trust Fund. The study is expanded to address, but shall not be limited to, (i) the current formula for determining solvency of the Unemployment Trust Fund, (ii) employee benefit eligibility criteria, (iii) the rationale for benefit levels, (iv) the propriety of regional or extended benefit features, (v) the appropriateness and sufficiency of pool charges, (vi) the propriety of diversion of revenue to job training or economic development programs, and (vii) the current tax schedules for employers. This resolution has been amended to incorporate HJR 784 (Hull), which requires the joint subcommittee to also study the means of calculating the weekly amount of unemployment compensation benefits for displaced employees, and examine the methods used by other states to determine an employee's weekly benefit amount, including the indexing of unemployment benefits and the minimum and maximum benefit amounts provided by those states. The joint subcommittee must report its findings and recommendations by November 30, 2001 to the Governor and the 2002 Session of the General Assembly.

SUMMARY AS INTRODUCED:

Study; Unemployment compensation funding requirements. Continues the Joint Subcommittee Studying the Funding Requirements of the Virginia Unemployment Trust Fund. The study is expanded to address, but shall not be limited to, (i) the current formula for determining solvency of the Unemployment Trust Fund, (ii) employee benefit eligibility criteria, (iii) the rationale for benefit levels, (iv) the propriety of regional or extended benefit features, (v) the appropriateness and sufficiency of pool charges, (vi) the propriety of diversion of revenue to job training or economic development programs, and (vii) the current tax schedules for employers.