HI HB1077

Adds payment of interest on Title XII federal unemployment insurance loans as an approved use of the Employment and Training Fund under Section 383-128.

Authorizes the Director of Labor and Industrial Relations to increase the Employment and Training Fund assessment rate in increments of 0.01 percent for calendar year 2011 to pay interest due on Title XII advances by September 30, 2011.

Removes the previous exemption that allowed employers assigned minimum (0%) or maximum (5.4%) contribution rates from paying the Employment and Training Fund assessment.

Requires that if federal law subsequently waives interest payments on Title XII loans, collected interest assessments become the total 2012 employment and training assessments with no additional collections or retroactive refunds to employers.

Automatically repeals on January 1, 2012, with retroactive application to January 1, 2011.