Last Action | signed by Governor (Acts ch. 52) |
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Title | AN ACT relating to unemployment insurance and declaring an emergency. |
Bill Documents |
Bill
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Impact Statements | Fiscal Note |
Bill Request Number | 1902 |
Sponsors | L. Clark, J. Adams, R. Adams, R. Adkins, L. Belcher, J. Bell, T. Burch, H. Collins, L. Combs, W. Coursey, J. Crenshaw, R. Crimm, B. Damron, M. Denham, T. Edmonds, B. Farmer, J. Glenn, J. Gooch Jr., D. Graham, J. Greer, M. Henley, D. Horlander, R. Huff, W. Hurt, J. Jenkins, D. Keene, M. King, J. Lee, M. Marzian, T. McKee, R. Meeks, C. Miller, T. Mills, L. Napier, R. Nelson, M. Nemes, F. Nesler, D. Osborne, S. Overly, D. Owens, R. Palumbo, T. Pullin, R. Quarles, R. Rand, J. Richards, S. Riggs, T. Riner, C. Rollins II, S. Rudy, S. Santoro, J. Short, K. Sinnette, R. Smart, F. Steele, W. Stone, G. Stumbo, T. Thompson, D. Watkins, J. Wayne, S. Westrom, B. Yonts |
Summary of Original Version | Amend KRS 341.240, relating to the unemployment compensation administration fund, to authorize the secretary to obtain funding through commercially reasonable means to pay interest on federal unemployment loans and to pledge proceeds from a surcharge on contributing employers as security; amend KRS 341.295 and 341.490 to conform; amend KRS 341.595 to require the Governor to make application, if eligible, for a cap on federal unemployment tax credit reductions; amend KRS 341.611 to require that interest on federal unemployment loans be paid from the unemployment compensation administration fund and to assess a surcharge on contributing employers if there are insufficient funds to pay interest; create a new section of KRS Chapter 341 to establish an annual surcharge, beginning on January 1, 2014, on contributing employers if there are insufficient funds to pay interest and costs relating to federal unemployment loans; require that surcharge proceeds be deposited in the interest payment fund; require annual adjustment of surcharge, beginning in January 2015, based on increase in the taxable wage base; permit secretary to reduce or suspend the annual surcharge; impose penalties, including liens, on delinquent surcharge payments; amend KRS 341.612 to provide that balance remaining in interest payment fund be credited to employers' reserve accounts or to unemployment administration fund; EMERGENCY. |
Index Headings of Original Version |
Fiscal Note - Federal unemployment loans, interest payments on Insurance - Unemployment, federal unemployment loans, interest payment provisions Labor and Industry - Unemployment compensation, federal unemployment loans, interest payment financing Personnel and Employment - Unemployment compensation, financing for federal interest payments Unemployment Compensation - Federal unemployment loans, interest payments on Effective Dates, Emergency - BR 1902 |
Proposed Amendments |
House Committee Substitute 1 House Committee Amendment 1 Senate Committee Substitute 1 |
Votes | Vote History |
02/28/12 |
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02/29/12 |
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03/01/12 |
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03/02/12 |
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03/13/12 |
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03/14/12 |
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03/15/12 |
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03/20/12 |
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03/21/12 |
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03/22/12 |
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03/29/12 |
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03/30/12 |
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04/11/12 |
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Amendment | House Committee Substitute 1 |
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Impact Statements | Fiscal Note |
Summary | Make technical changes. |
Index Headings |
Fiscal Note - Federal unemployment loans, interest payments on Insurance - Unemployment, federal unemployment loans, interest payment provisions Labor and Industry - Unemployment compensation, federal unemployment loans, interest payment financing Personnel and Employment - Unemployment compensation, financing for federal interest payments Unemployment Compensation - Federal unemployment loans, interest payments on Effective Dates, Emergency - BR 1902 |
Amendment | House Committee Amendment 1 |
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Sponsor | R. Rand |
Summary | Make title amendment |
Index Headings |
Fiscal Note - Federal unemployment loans, interest payments on Insurance - Unemployment, federal unemployment loans, interest payment provisions Labor and Industry - Unemployment compensation, federal unemployment loans, interest payment financing Personnel and Employment - Unemployment compensation, financing for federal interest payments Unemployment Compensation - Federal unemployment loans, interest payments on Effective Dates, Emergency - BR 1902 |
Amendment | Senate Committee Substitute 1 |
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Summary | Retain original provisions; add requirement that the secretary report on July 1, 2012 and quarterly thereafter on the status of the financing provision, unemployment trust fund, and efforts to obtain a federal tax reduction cap; require that any funds remaining in the interest payment fund be credited to employer reserve accounts; create a new section to require suspension of the taxable wage base increase when the trust fund balance reaches $200 million; limit suspension to the number of years that employers paid additional federal unemployment taxes; permit taxable wage base to increase if trust fund balance is within $20 million of the lower rate schedule trigger amount; provide that increase in maximum weekly benefit amount shall not be limited by suspension of the taxable wage base; and require that suspension of increase in taxable wage base shall not occur if the trust fund balance is less than $200 million or if suspension would violate federal unemployment laws. |
Index Headings |
Fiscal Note - Federal unemployment loans, interest payments on Insurance - Unemployment, federal unemployment loans, interest payment provisions Labor and Industry - Unemployment compensation, federal unemployment loans, interest payment financing Personnel and Employment - Unemployment compensation, financing for federal interest payments Unemployment Compensation - Federal unemployment loans, interest payments on Effective Dates, Emergency - BR 1902 |
Last updated: 8/27/2019 8:05 PM (EDT)