HI HB2469

Establishes an Unemployment Compensation Insolvency Special Fund to receive legislative appropriations and interest earnings for resolving unemployment trust fund insolvencies.

Allows the Governor to declare an Unemployment Compensation Trust Fund insolvency emergency when the Director of Finance determines the fund balance is insufficient to meet state obligations.

Permits the Governor to transfer all or part of the Insolvency Special Fund balance into the Unemployment Compensation Trust Fund to resolve declared emergencies, with written notification to legislative leaders required.

Allows temporary expenditure of Insolvency Special Fund moneys during emergencies, severe economic downturns, or unforeseen revenue reductions upon two-thirds majority vote approval by both houses of the legislature.

Appropriates an unspecified amount from general revenues into the Unemployment Compensation Insolvency Special Fund for fiscal year 2022-2023; becomes effective December 25, 2040.