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125th MAINE LEGISLATURE |
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LD 1725 |
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LR 2554(07) |
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An Act To
Strengthen the Unemployment Insurance Laws and Reduce Unemployment Fraud |
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Fiscal Note for
Senate Amendment " " to
Committee Amendment "B" |
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Sponsor: Sen. Martin, Jr. of Kennebec |
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Fiscal Note Required: Yes |
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Fiscal Note |
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Potential current biennium savings - Unemployment Compensation
Trust Fund
Potential future biennium revenue
decrease - Unemployment Compensation Trust Fund |
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Fiscal Detail
and Notes |
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Including
vacation pay that exceeds one week of an individual's wages as deductible
income when calculating a claimant's unemployment compensation benefit will
reduce costs to the Unemployment Compensation Trust Fund in the current
biennium beginning in fiscal year 2012-13 due to a decrease in benefit
payments. |
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This reduction in
benefits may potentially affect the contribution rate schedule in future
biennia. The impact to all employers
and the timing of the impact can not be determined at this time and will
depend on the level of benefits paid, contributions received and the balance
of the trust fund with the contribution schedule is calculated. |
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This amendment
will reduce unemployment costs for executive branch departments and agencies
that are in direct reimbursement status. |
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