ID H0108

Authorizes the Idaho Housing and Finance Association to issue unemployment benefit bonds and notes to finance repayment of federal advances under the Social Security Act when the director of the Department of Labor determines it will result in savings to the state and employers.

Creates a bond principal payment account ($50 million) and bond interest payment account ($20 million) within the employment security reserve fund, with continuous appropriation for bond payments.

Requires the Department of Labor director to obtain federal advances as necessary to pay unemployment insurance benefits when the benefit account balance reaches zero.

Establishes conditions for bond issuance requiring approval and certification from the Department of Labor director and an agreement between the association and director for financing department of labor projects.

Increases the desired fund size multiplier from 0.8 to progressively higher levels (0.9 by 2012, 1.0 by 2013, up to 1.5 by 2018) and declares the bill emergency legislation effective upon passage.