AZ HB2115

Amends Arizona Revised Statutes Section 23-621 to redefine "severance pay" for unemployment insurance purposes.

Expands the definition of severance pay to include all amounts paid by employers due to employee resignation, termination, participation in exit incentive programs, reduction in force, or in consideration for release of employment-related claims.

Clarifies that severance pay excludes amounts paid for health benefits or pursuant to employee benefit plans.

Removes "dismissal pay" from the language regarding wages in lieu of notice and severance pay allocations.

Effective April 25, 2014.