MS HB555

Amends Section 71-5-503 to replace the flat $30.00 minimum weekly unemployment benefit with a tiered minimum benefit based on total base period wages: $1,000/week for wages over $100,000; $750/week for $75,000-$100,000; $650/week for $50,000-$75,000; $500/week for $25,000-$50,000; and $250/week for wages of $25,000 or less.

Removes the previous maximum weekly benefit amount caps of $210, $230, and $235 that were tied to specific effective dates.

Maintains the calculation method for weekly benefit amounts as one-twenty-sixth of the highest quarter's total wages during the base period, rounded down to the nearest dollar.

Brings Section 71-5-505 forward without substantive changes, preserving rules for partial unemployment benefits and the one-week waiting period waiver for federally declared disasters.

Effective date: July 1, 2024.