AL HB88

Amends Section 25-4-73 of the Code of Alabama 1975 to change the unemployment compensation benefit calculation formula for eligible individuals who are totally or partially unemployed.

Replaces the current $15 wage disregard with a new formula that reduces weekly benefits by wages in excess of one-third of the weekly benefit amount.

Maintains the requirement that benefits be computed to the nearest multiple of one dollar ($1).

Preserves existing provisions for weeks beginning prior to January 1, 1989, and requires a one-week waiting period with no benefits payable for benefit years effective on or after August 1, 2012.

Becomes effective on the first day of the third month following passage and approval by the Governor.