HB6927 Summary

• Amends the Unemployment Insurance Act to modify employer contribution rates for calendar year 2011 and beyond, establishing a minimum rate of 0.0% and maximum rate of 7.4% (or product of 7.4% and adjusted state experience factor).

• Creates the Unemployment Insurance Task Force to study and recommend reforms that encourage business growth while protecting involuntarily unemployed workers, including consideration of altering employer contribution rates based on employment loss experience.

• Task Force comprises five members appointed by the Governor (as chairperson), Speaker of the House, Minority Leader of the House, President of the Senate, and Minority Leader of the Senate, with appointments to be made within 90 days of the Act's effective date.

• Requires the Task Force to submit a final report with findings, recommendations, and estimated costs/savings data to the Governor and General Assembly by December 31, 2011, and abolishes the Task Force on January 1, 2012.

• Task Force members serve voluntarily without compensation, with the Department providing staff and administrative support and the Task Force required to hold public hearings before filing its report.