121st Maine Legislature
Office of Fiscal and Program Review
LD 117
An Act Relating to Unemployment Compensation      
LR 0026(01)
Fiscal Note for Original Bill
Sponsor: Rep. Bryant
Committee: Labor
Fiscal Note Required: Yes
   
             
Fiscal Note
Undetermined current biennium cost increase - All Funds
Current biennium revenue increase - Other Funds
Fiscal Detail and Notes
This bill will increase benefit costs to all employers beginning in fiscal year 2003-04 by approximately $6,000,000 per year based on the unemployment rate assumptions of the Consensus Economic Forecasting Commission.  Also, under the Omnibus Reconciliation Act, the federal share of the cost of the first week of Extended Benefits will be eliminated in any state which does not have a non-compensable waiting week for regular benefits.  This is estimated to increase the State share of extended benefits by an additional $1,000,000 to $2,000,000 depending on the duration of the extended benefits.  The cost increase would move the unemployment contributions schedule from B to C for rate year 2005, increasing collections by $12,200,000 in 2005 and an additional $1,500,000 in 2006.  The State and all other direct reimbursment employers will be required to repay the Unemployment Compensation Trust Fund for the additional benefit payments.