Fiscal Note
HB0018 - Unemployment Insurance Amendments
State Impact:
Enactment of this bill would require an additional appropriation of $125,000 from Federal Funds in FY 2010 and $1,755,000 from Federal Funds and the Unemployment Trust Fund in FY 2011. This bill would increase the Unemployment Insurance Trust Fund balance by $20,332,400 in FY 2010, $387,500 in FY 2011, and $1,550,000 in FY 2012. The State as an employer may incur additional costs for unemployment benefits depending upon changes in the overall state workforce.
| Funding Source | FY 2010 Approp. | FY 2011 Approp. | FY 2012 Approp. | FY 2010 Revenue | FY 2011 Revenue | FY 2012 Revenue |
| Federal Funds | $125,000 | $205,000 | $160,000 | $0 | $0 | $0 |
| Trust Funds | $0 | $1,550,000 | $3,100,000 | $20,332,400 | $387,500 | $1,550,000 |
| Total | $125,000 | $1,755,000 | $3,260,000 | $20,332,400 | $387,500 | $1,550,000 |
Individual, Business and/or Local Impact:
Local governments may be impacted due to potential increase in unemployment benefit costs. Business may be impacted due to increased Unemployment Insurance tax rates. Individuals may benefit from changes in the proposed statute.
| 1/4/2010, 12:41:09 PM, Lead Analyst: Schoenfeld, J.D./Attny: JLW | Office of the Legislative Fiscal Analyst |