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1998 SESSION

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SENATE JOINT RESOLUTION NO. 77 Continuing the Joint Subcommittee Studying the Funding Requirements of the Virginia Unemployment Trust Fund.

Agreed to by the Senate, February 17, 1998 Agreed to by the House of Delegates, March 12, 1998

WHEREAS, each year since 1977 a joint subcommittee consisting of five members of the Senate Commerce and Labor Committee and five members of the House Labor and Commerce Committee has met to study the funding requirements of the Virginia Unemployment Trust Fund; and

WHEREAS, such joint subcommittee met in 1996 and 1997 pursuant to Senate Joint Resolution No. 29 (1996) to review the current status and long-term projections for the Unemployment Trust Fund; and

WHEREAS, the Unemployment Trust Fund is financed by Virginia's employers and drawn on by working Virginians who become unemployed and must rely on such Fund for unemployment compensation benefits; and

WHEREAS, continued legislative oversight of such Fund is warranted to ensure its adequacy to meet current and projected benefit payments; now, therefore, be it

RESOLVED by the Senate, the House of Delegates concurring, That the Joint Subcommittee Studying the Funding Requirements of the Virginia Unemployment Trust Fund be continued. The joint subcommittee's membership shall remain the same, with any vacancies to be filled by the Senate Committee on Privileges and Elections and the Speaker of the House, as appropriate.

The direct costs of this study shall not exceed $3,000.

The Division of Legislative Services shall provide staff support for the study. All agencies of the Commonwealth shall provide assistance to the joint subcommittee, upon request.

The joint subcommittee shall complete its work in time to submit its findings and recommendations to the Governor and the 1999 Session of the General Assembly as provided in the procedures of the Division of Legislative Automated Systems for the processing legislative documents.

Implementation of this resolution is subject to subsequent approval and certification by the Joint Rules Committee. The Committee may withhold expenditures or delay the period for the conduct of the study.