Wednesday, March 17, 2010
Key House Committee Approves Unemployment Insurance Bill
The House Economic Matters Committee approved the amended version of the Administration’s unemployment insurance bill, SB 107, by a vote of 17-5.
As introduced, the bill made a number of changes to unemployment insurance eligibility and benefits to make the state eligible for $126.8 million of federal stimulus money. The bill was amended to also include benefit reductions to offset these new costs. This was an important element for which the Maryland Chamber and our business allies worked.
The Chamber also worked to ensure the long-term health and stability of the Unemployment Insurance Trust Fund. The amended bill keeps the rate schedule at Table F, rather than moving to Table E. The original bill used much of the federal stimulus funds to provide employers with a small one-year rate deferral. Staying at Table F and dedicating the federal dollars to the trust fund will help rebuild the trust fund faster, which is an important step to reducing unemployment insurance tax rates for all Maryland employers in future years.
The bill will now be considered by the full House of Delegates. For more information, contact Allyson Black at .(JavaScript must be enabled to view this email address).
