HB305 Summary

• Extends the expiration date of a special assessment on employer wages from September 30, 2011 to September 30, 2013, maintaining a 0.06% assessment rate on all wages paid to employees by subject employers.

• Creates the Employment Security Enhancement Fund to receive all assessed revenues, with funds available to the director for expenditure on employment security programs and services without lapsing.

• Authorizes use of Enhancement Fund moneys for special claimant assistance programs providing job search and placement assistance, general employment security administration, and program overhead costs.

• Establishes a five-member oversight committee composed of state department directors, employer representatives selected by the Business Council of Alabama, and employee representatives selected by the Alabama Labor Council to plan and monitor the program.

• Provides that if programs funded by the Enhancement Fund cease, all remaining moneys shall be transferred to the state's Unemployment Compensation Trust Fund within 90 days of fulfilling outstanding obligations.