HB 1676 Summary

• Changes the effective date for maximum unemployment benefits from January 1, 2018 to January 1, 2023, and ties benefit amounts to the state unemployment rate in a tiered structure.

• Reduces maximum benefits from 16 times the weekly benefit amount to 12 times if the state unemployment rate is at or below 5.5%, increasing to 16 times if the rate exceeds 7%.

• Establishes a progressive indexing system with four intermediate tiers: 13 times benefits at 6% or below unemployment, 14 times at 6.5% or below, and 15 times at 7% or below.

• Requires the Division of Workforce Services to promulgate rules necessary to implement the act and file proposed rules with the Legislative Council by January 1, 2023.

• Addresses solvency of the Unemployment Compensation Fund by linking benefit levels to economic conditions, similar to indexing practices used by other states.