HB 6633 Summary

• Increases taxable wage cap from $15,000 (through 2023) to $25,000 starting January 1, 2024, then adjusts annually based on employment cost index starting 2025, effective January 1, 2022

• Modifies employer contribution rates for calendar years 2024-2025 by dividing calculated rates by 1.471 and 1.269 respectively, and expands rate range from 0.5-5.4% to 0.1-10% starting 2024

• Restructures experience period calculation to exclude COVID-19 benefit charges and wages from June 30, 2020 and 2021, with single-year lookback for 2026 and two-year lookback for 2027

• Increases minimum weekly unemployment benefits to $40 starting January 1, 2024 (or $15 if federal supplement provided), then adjusts annually by employment cost index starting 2025

• Changes willful misconduct standard for absences from one or two consecutive days to one day only without cause or notice starting January 1, 2024