HB 168 Summary

• Establishes a one-week waiting period as a condition of eligibility for unemployment insurance benefits for claims beginning January 1, 2014, which sunsets January 1, 2017.

• Increases the taxable wage base from $10,500 based on a tiered system tied to the UI Trust Fund balance as of September 30, with rates ranging from $18,500 (when fund balance is $125 million or less) down to $10,500 (when fund balance is $275 million or greater), effective calendar year 2014.

• Adjusts the special assessment (training tax) rates inversely with the taxable wage base, ranging from .085% to .15% depending on which wage base tier applies.

• Authorizes the Department to borrow state funds to repay federal loans to the UI Trust Fund, with reimbursement from unemployment insurance tax receipts.

• Defines "waiting period" as the first week of a benefit year for which no benefits are payable and for which the individual has timely applied and is otherwise eligible for regular benefits.