SP0024, LD 65, item 1, An Act To Increase the Ability of the Maine Wage Assurance Fund To Pay Unpaid Workers

An Act To Increase the Ability of the Maine Wage Assurance Fund To Pay Unpaid Workers

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 26 MRSA §632, sub-§3, as enacted by PL 1979, c. 202, §1, is amended to read:

3. Amount in fund. The Maine Wage Assurance Fund shall be is a nonlapsing, revolving fund limited to a maximum of $100,000 $200,000. All moneys money collected from an employer pursuant to a claim for unpaid wages by an employee who has received payment from the fund, or by the State as his the employee's subrogee, shall be is credited to the fund.

The fund shall must be established and augmented periodically as necessary.

Moneys Money in the fund not needed currently to meet claims against the fund shall must be deposited with the Treasurer of State to be credited to the fund and may be invested in such manner as is provided for by statute. Interest received on that investment shall must be credited to the Maine Wage Assurance Fund.

§632. Information to be furnished to railroad employees

(As enacted by PL 1979, c. 287 is REALLOCATED TO TITLE 26, SECTION 633)

summary

This bill increases the amount that may be held in the Maine Wage Assurance Fund from $100,000 to $200,000.

SP0024 LD 65	First Regular Session - 124th Maine Legislature Text: MS-Word, RTF or PDF		LR 361 Item 1
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