VA HB1320

Increases weekly unemployment benefit amounts for claims filed on or after July 1, 2026, by establishing a new benefit table (Division D) with higher payment levels based on wages earned in the two highest quarters of the claimant's base period

Amends § 60.2-602 of the Code of Virginia to create a fourth tier of benefit calculations, following previous benefit structures that took effect in 2008, 2014, and January 2026

Projected to reduce the solvency level of Virginia's Unemployment Trust Fund by an average of 7.43 percent annually over the next eight years

The impact on employer state unemployment tax liability per employee is indeterminate according to the Virginia Employment Commission and Department of Planning and Budget