MO HB226

Repeals and replaces section 288.330 of Missouri's Revised Statutes relating to unemployment compensation fund financing.

Establishes the Board of Unemployment Fund Financing with five members: the governor (chair), lieutenant governor (vice chair), attorney general, director of the department of labor, and commissioner of administration (secretary).

Authorizes the board to issue credit instruments (bonds, commercial lines of credit, tax anticipation notes) with fixed or variable interest rates maturing no later than 10 years after issuance to fund unemployment benefits or maintain adequate fund balances.

Allows the board to enter financial agreements with state or national banks for unemployment fund purposes, with repayment from the special employment security fund subject to general assembly appropriation.

Provides that credit instruments and financial agreements are not state debts and do not pledge the state's faith, credit, or taxing power, and are exempt from state and local taxation.