SB22-234: Unemployment Compensation

• Increases partial unemployment benefit wage disregard from 25% to 50% of weekly benefit amount, effective through August 31, 2022 when it reverts to 25%

• Creates Benefit Recovery Fund to provide payments (at 55% of average weekly wage, max 13 weeks) to unemployed individuals ineligible for regular unemployment benefits due to immigration status but who have prior work history and wage withholding

• Expands overpayment waiver eligibility to include those receiving public assistance benefits, living at or below 400% of federal poverty level, or experiencing hardship, with division required to review and waive at time of overpayment determination

• Establishes bond assessment authority for unemployment compensation fund to pay principal costs and non-principal costs through employer assessments separate from normal premiums

• Transfers $600 million from revenue loss restoration fund to Title XII repayment fund for federal unemployment trust fund advances within three days of effective date