Relating to administration of public funds; and prescribing an effective date.
Catchline/Summary:
Increases the percentage points of the employer tax rate that are used to determine the amount of wages paid into the Supplemental Employment Department Administration Fund each calendar quarter.Digest: The Act would change the amount of unemployment insurance tax moneys that are paid into certain funds used for the UI program. (Flesch Readability Score: 61.4).
[Digest: The Act tells the State Treasurer to study public funds. (Flesch Readability Score: 78.2).]
[Requires the State Treasurer to study the administration of public funds. Directs the State Treasurer to submit findings to the interim committees of the Legislative Assembly related to ways and means not later than September 15, 2026.]
[Sunsets January 2, 2027.]
Increases the percentage points of the employer tax rate that are used to determine the amount of wages paid into the Supplemental Employment Department Administration Fund each calendar quarter. Changes the formula for determining the amount of excess moneys in the Supplemental Employment Department Administration Fund that are transferred to the Unemployment Compensation Trust Fund each biennium.
Takes effect on the 91st day following adjournment sine die.
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