OK SB1385

Creates the Shared Work Unemployment Compensation Program under Oklahoma law, allowing employers to voluntarily reduce employee hours instead of laying off workers while those employees receive partial unemployment benefits.

Requires employers to submit written shared work plans to the Oklahoma Employment Security Commission for approval, with plans identifying affected units of at least 2 employees and reducing normal weekly hours by 20-40% with corresponding wage reductions.

Eligible employees in approved shared work plans receive weekly shared work benefits equal to their regular unemployment benefit amount multiplied by the percentage of hours reduced, with benefits paid from the Unemployment Compensation Fund.

Participating employers must reimburse the Unemployment Compensation Fund for actual shared work benefits paid, with a maximum 3-year repayment period beginning January 1 following the year benefits are paid.

Effective July 1, 2010, with shared work benefit payments beginning January 1, 2011; declared an emergency measure.