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MO SB220
Bill
AI Summary
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Unemployment benefit duration would vary from 13 to 20 weeks based on Missouri's average unemployment rate, replacing the previous fixed maximum of 20 weeks (20 weeks at 9%+ unemployment, down to 13 weeks below 6% unemployment)
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Raises the unemployment compensation trust fund balance thresholds that trigger employer contribution rate decreases from $600 million/$750 million to $720 million/$870 million
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Requires the Board of Unemployment Fund Financing to meet and consider issuing credit instruments when federal advances to the unemployment fund exceed $300 million
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Interest assessments under section 288.128 must continue at the same rate until any credit instruments issued to cover federal debt are fully financed
Legislative Description
Modifies the duration of unemployment compensation, the method to pay federal advances, and raises the fund trigger causing contribution rate reductions
Last Action
S Informal Calendar S Bills for Perfection--SB 220-Kehoe
5/15/2015