SB1053 HFIN AMT

McO

The Committee on Finance moves to amend the title of the bill to read as follows:

Com. Sub. for Com. Sub. for S. B. 1053 -- “A BILL to amend and reenact §21A-5-5 of the Code of West Virginia, 1931, as amended; and to amend the code by adding a new section, designated §21A-9-10, relating to authorizing an Unemployment Automation and Administration Fund to be used to modernize and enhance WorkForce West Virginia automation and initiatives; directing temporary seven percent reduction of employer contributions to the Unemployment Compensation Fund; requiring payment of an annual unemployment automation and administration fee into the Unemployment Automation and Administration Fund; terminating collections of fees and reimposition of full employer contributions upon occurrence of certain events; limiting said deposits when the Unemployment Automation and Administration Fund reaches $18 million in a given fiscal year or when balance of the Unemployment Compensation Fund falls below $300 million; authorizing Commissioner of WorkForce West Virginia to disburse funds  from Unemployment Automation and Administration Fund  to modernize unemployment compensation system, upgrade job search system, cover essential administrative costs, and engage in additional initiatives designed to bolster workforce development initiatives; authorizing rulemaking; requiring compliance with federal law; and establishing an effective date.”.

ADOPTED

REJECTED