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SB 1698 - Amends Unemployment Insurance Law - Illinois Key Vote

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Title: Amends Unemployment Insurance Law

Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that amends the unemployment insurance law.

Highlights:

  • Establishes that “If and only if funds from the State treasury are not appropriated on or before January 31, 2023 that are dedicated to pay all outstanding advances made to the State's account in the Unemployment Trust Fund pursuant to Title XII of the federal Social Security Act, then this Part (I) is inoperative retroactive to January 1, 2023” (Page 1).

  • Increases maximum amount includable as “wages” (Page 1).

  • Reduces weekly benefit amount from 42.4% to 40.6% of prior weekly wage (Page 11).

  • Reduces weekly benefit amount from 51.4% to 49.6% for person with nonworking spouse (Page 17).

  • Specifies benefit payments to persons with dependent child(ren) (Page 28).

  • Amends solvency rate adjustment schedule (Page 34).

  • Increases Unemployment Trust Fund target balance to $1.7 billion, starting in 2023 (Page 39).

  • Authorizes increase of state experience factor for unemployment insurance contributions (Page 44).

  • Establishes effective date of January 1, 2023 (Page 54).




Full Bill Text

See How Your Politicians Voted

Title: Amends Unemployment Insurance Law

Vote Smart's Synopsis:

Vote to amend and pass a bill that amends the unemployment insurance law.

Highlights:

  • Establishes that “If and only if funds from the State treasury are not appropriated on or before January 31, 2023 that are dedicated to pay all outstanding advances made to the State's account in the Unemployment Trust Fund pursuant to Title XII of the federal Social Security Act, then this Part (I) is inoperative retroactive to January 1, 2023” (Page 1).

  • Increases maximum amount includable as “wages” (Page 1).

  • Reduces weekly benefit amount from 42.4% to 40.6% of prior weekly wage (Page 11).

  • Reduces weekly benefit amount from 51.4% to 49.6% for person with nonworking spouse (Page 17).

  • Specifies benefit payments to persons with dependent child(ren) (Page 28).

  • Amends solvency rate adjustment schedule (Page 34).

  • Increases Unemployment Trust Fund target balance to $1.7 billion, starting in 2023 (Page 39).

  • Authorizes increase of state experience factor for unemployment insurance contributions (Page 44).

  • Establishes effective date of January 1, 2023 (Page 54).




Full Bill Text

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