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Restore Unemployment Insurance Fund Balance

Concerning the restoration of the money spent by the state during the COVID-19 pandemic for the state's unemployment insurance program.
2022 Regular Session
Labor & Employment
Bill Summary

The bill:

  • Requires the state treasurer to transfer $1.1 billion from the general fund to the unemployment compensation fund (fund) to restore the balance of the fund to the fund's pre-pandemic level; and
  • Requires the director of the division of unemployment insurance to repay the federal government for $1.014 billion of advances received from the federal government in responding to the COVID-19 pandemic.
    (Note: This summary applies to this bill as introduced.)




Bill Text

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The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details