Senate Bill 580 Summary

• Raises the minimum number of unemployment insurance benefits weeks from 12 to 16 weeks for areas with unemployment rates at or below 7.5%.

• Replaces the seasonal adjusted statewide unemployment rate with a "modified MSA unemployment rate" that accounts for regional variation by calculating the mean of metropolitan statistical area (MSA) unemployment rates plus one standard deviation.

• Extends the maximum number of unemployment benefits weeks to 20 weeks for areas with unemployment rates greater than 9%.

• Establishes state funding for the Unemployment Insurance Fund by appropriating 10% of quarterly surtax collections from the General Fund when employers are subject to the surtax under G.S. 96-9.7.

• Becomes effective July 1, 2017, for claims filed on or after that date and for tax calculations on or after that date.