AZ HB2592

Reduces maximum unemployment insurance benefits from 26 weeks to 12 weeks when the prior calendar quarter unemployment rate is 5 percent or less.

Increases maximum benefits to 14 weeks when unemployment rate is more than 5 percent but not more than 5.5 percent.

Creates a tiered benefit structure with maximum benefits ranging from 16 to 26 weeks based on unemployment rates, scaling up as unemployment increases above 5.5 percent through 8 percent.

Maintains the existing cap that individuals cannot receive more than one-third of their base period earnings in a benefit year.

Defines "unemployment rate in the prior calendar quarter" as the average of seasonally adjusted unemployment rates for the three months of the most recently published calendar quarter.