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122nd MAINE LEGISLATURE |
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LD 309 |
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LR 0581(01) |
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An Act
To Remove the Sunset on Part-time Unemployment Insurance Benefits |
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Fiscal Note for Original Bill |
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Sponsor: Rep.
Smith of Van Buren |
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Committee: Labor |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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| Undetermined future biennium cost increase - All Funds |
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| Future biennium
revenue increase - Other Funds |
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| Fiscal Detail
and Notes |
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The Department of
Labor estimates this bill will increase benefits paid from the Unemployment
Compensation Trust Fund beginning in fiscal year 2005-06. The amount can not be determined at this
time. However, estimates developed by
the Department of Labor using actual data through October 2004 indicate the
increase in benefit costs to be approximately $2,016,000 in fiscal year
2005-06 and $3,326,000 in fiscal year 2006-07. The cost increase in this bill would not impact the
unemployment contributions schedule until 2010 based on projections developed
using the Consensus Economic Forecasting Commission Forecast of October
2004. The State and all other direct
reimbursement employers will be required to repay the Unemployment
Compensation Trust Fund for the additional benefit payments. |
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