124th MAINE LEGISLATURE
		LD 1543		LR 2315(01)
	An Act To Make Maine Laws Consistent with Recent Amendments to the United States Trade Act of 1974
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Rep. Tuttle, Jr. of Sanford
	Committee: Labor
	Fiscal Note Required: No
Preliminary Fiscal Impact Statement
Minor savings - Unemployment Compensation Trust Fund
Fiscal Detail and Notes
	Making statutory changes to 26 MRSA §1191 and §1192 to reflect recent amendments to the United States Trade Act of 1974 may result in minor savings to the Unemployment Compensation Trust Fund due to a small decrease in the amount of benefits being paid out of the Trust Fund.
	This legislation, if approved, will allow Maine to remain in conformity with the Federal Unemployment Tax Act (FUTA).  Being ruled out of conformity could result in the loss of certification for tax credits for all employers liable for the FUTA tax and the potential loss of administrative funding.  The loss of the FUTA tax credits for all Maine employers is estimated at $223 million. The loss of administrative funding to the Bureau of Unemployment Compensation is estimated to be approximately $11.8 million. Additional administrative grant funding to the Bureau of Employment Services and the Center for Workforce Research and Information could also be jeopardized.