| 122nd MAINE LEGISLATURE | |||||||||
| LD 156 | LR 1145(01) | ||||||||
| An Act To Adjust the Wage Base for the Unemployment Compensation System | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Sen. Mills of Somerset | |||||||||
| 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 | |||||||||
| The Department of Labor estimates this bill will increase unemployment contribution due the Unemployment Conpensation Trust Fund. As proposed, this bill increases the employer's unemployment contribution rates for the first two years after each change. The actual amount can not be determined at this time. However, estimates developed by the Department of Labor using a moderate unemployment scenario indicate the increase in contributions due to be approximately $12.8 million for rate year 2006 and $15.0 million in rate year 2007. This legislation will have no fiscal impact on direct reimbursement employers. | |||||||||