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2014 SESSION

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SB 110 Unemployment compensation; short-time compensation program, report.

Introduced by: William M. Stanley, Jr. | George L. Barker | all patrons    ...    notes | add to my profiles

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)

Unemployment compensation; short-time compensation program. Establishes a short-time compensation program that provides employers with the option of reducing the hours worked by employees, while permitting the employees whose hours are reduced to receive partial compensation for lost wages. Program participation requires Virginia Employment Commission approval of a plan, which must provide that the reduction in hours of work is in lieu of a layoff of an equivalent percentage of employees and that employees' health and retirement benefits cannot be reduced or eliminated under the plan. An employer is not eligible to participate in the program if it has negative unemployment experience, is assigned the maximum experience rating tax rate, is assigned the tax rate for new employers, or reduced its workforce by 20 percent or more during the preceding six months. Participating employers are required to provide information regarding whether the plan is intended to be a transition to permanent layoffs. An individual who satisfies other requirements for unemployment benefits will be eligible for short-term compensation if he is available for the individual's usual hours of work with the participating employer, which may include participating in certain training programs. The measure requires the Commission to submit reports on the program's implementation and accomplishments, with recommendations to improve its effectiveness. The measure becomes effective January 1, 2015. The bill has an expiration date of January 1, 2020; however, if federal grants covering certain costs of establishing the program are not received by the Commission by July 1, 2016, the bill will expire on that date.


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