AR SB592

Authorizes the Department of Workforce Services to use the Unemployment Insurance Administration Fund for personal services and operating expenses of the unemployment insurance program through June 30, 2019.

Sets a stabilization tax of 0.025% of taxable wages to be deposited into the fund, with a maximum annual deposit cap of $2,500,000 per fiscal year.

Allows the Department of Workforce Services to deposit up to an additional $3,500,000 in any fiscal year if the $2,500,000 is insufficient to meet administrative needs, subject to approval by the Chief Fiscal Officer of the State.

Amends Arkansas Code § 11-10-706(f)(2) and § 19-5-1232(b)(2) to clarify fund usage and administration authority vested with the Director of the Department of Workforce Services.

Approved April 6, 2017.