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HB 347 - Reduces Unemployment Benefits - Georgia Key Vote

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Vote Smart's Synopsis:

Vote to adopt a conference report that reduces the length of unemployment benefits.

Highlights:

  • Reduces the amount of weeks for state unemployment benefits to a minimum of 14 weeks if the unemployment rate is at or below 6.5 percent, with an additional week being added for each 0.5 percent increase in the unemployment rate up to a maximum of 20 weeks at 9 percent unemployment, beginning July 1st, 2012 (Sec. 3).
  • Specifies that the reserve ratio rate used to calculate unemployment taxes will not be increased from January 1 to December 31, 2013 unless 1 of the following occurs (Sec. 2):
    • The statewide reserve rate is less than 1.25 percent, whereby the Commissioner of Labor then has the option of imposing an increase of up to 50 percent of the rate; or
    • If any funds borrowed by the Commissioner of Laborer from the United States Treasury are unpaid or if the Unemployment Compensation Fund has a balance of less than $1 billion, whereby the Commissioner of Labor is then required to impose an increase of 50 percent of the rate.

Full Bill Text

See How Your Politicians Voted

Title: Reduces Unemployment Benefits

Vote Smart's Synopsis:

Vote to adopt a conference report that reduces the length of unemployment benefits.

Highlights:

  • Reduces the amount of weeks for state unemployment benefits to a minimum of 14 weeks if the unemployment rate is at or below 6.5 percent, with an additional week being added for each 0.5 percent increase in the unemployment rate up to a maximum of 20 weeks at 9 percent unemployment, beginning July 1st, 2012 (Sec. 3).
  • Specifies that the reserve ratio rate used to calculate unemployment taxes will not be increased from January 1 to December 31, 2013 unless 1 of the following occurs (Sec. 2):
    • The statewide reserve rate is less than 1.25 percent, whereby the Commissioner of Labor then has the option of imposing an increase of up to 50 percent of the rate; or
    • If any funds borrowed by the Commissioner of Laborer from the United States Treasury are unpaid or if the Unemployment Compensation Fund has a balance of less than $1 billion, whereby the Commissioner of Labor is then required to impose an increase of 50 percent of the rate.

Full Bill Text

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