MO SB673

Eliminates the maximum benefit cap of 20 times weekly benefit amount or 33.3% of wage credits, replacing it with a variable duration system based on Missouri's unemployment rate ranging from 13 to 20 weeks per benefit year.

Creates the Board of Unemployment Fund Financing with power to issue credit instruments (bonds, notes) to pay federal unemployment trust fund advances without pledging state faith and credit, with repayment from employment security funds.

Raises the unemployment compensation trust fund balance threshold triggering employer contribution rate reductions from $600-750 million to $720-870 million, and increases the maximum rate reduction cap from 7% to 10% for employers with 6%+ contribution rates.

Requires the board to meet and consider issuing credit instruments for the entire debt owed if federal advancements exceed $300 million, with interest assessments continuing at the issuance rate until instruments are fully financed.

Establishes enhanced verification procedures for unemployment claims including Social Security and date of birth verification, with cross-checking against federal Social Security Administration data weekly and state driver's license databases monthly.