MO HB493

Unemployment benefit duration would vary from 13 to 20 weeks based on Missouri's average unemployment rate, replacing the fixed 20-week maximum (20 weeks at 9%+ unemployment, down to 13 weeks below 6% unemployment)

Raises the unemployment compensation trust fund balance thresholds that trigger employer contribution rate reductions by $120 million (from $600M/$750M to $720M/$870M)

Requires the Board of Unemployment Fund Financing to meet and consider issuing credit instruments when federal government advances to the fund exceed $300 million

Maintains the interest assessment under section 288.128 at the same rate until credit instruments are fully financed if bonds are issued under the new federal debt trigger provision