HI SR114

Hawaii has borrowed $700,700,000 in federal unemployment insurance loans as of January 2020, ranking eighth highest among all states due to COVID-19 pandemic unemployment.

States currently have approximately two years to repay federal unemployment loans, after which federal unemployment tax rates for businesses automatically increase annually until the debt is repaid.

Urges Congress to forgive Hawaii's outstanding federal unemployment insurance loan balance and not penalize states for debts acquired due to emergency COVID-19-related funding.

Hawaii had the highest unemployment rate in the country at 9.3 percent as of December 2020 and may need to borrow additional federal funds for unemployment benefits.

Requires certified copies of the resolution be sent to the President Pro Tempore of the U.S. Senate, Speaker of the U.S. House of Representatives, and all members of Hawaii's Congressional Delegation.