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131st MAINE LEGISLATURE |
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LD 1464 |
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LR 1109(01) |
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An Act to Remove
the Waiting Period for Benefits Under Maine's Unemployment Insurance System |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Sen. Daughtry of Cumberland |
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Committee: Labor and Housing |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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Undetermined current biennium cost increase - All Funds
Undetermined future biennium revenue increase - Other Funds |
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FY 2023-24 |
FY 2024-25 |
Projections FY 2025-26 |
Projections FY 2026-27 |
| Appropriations/Allocations |
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Employment Security Trust
Fund |
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$7,500,000 |
$7,500,000 |
$7,500,000 |
$7,500,000 |
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| Fiscal Detail
and Notes |
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The Department of
Labor has indicated that the Unemployment Compensation Benefit Account within
the Department of Labor will require ongoing Other Fund allocations of $7.5
million per year beginning in fiscal year 2023-24 for the estimated cost
associated with eliminating the one week waiting period that must be served
before an individual can begin collecting unemployment benefits. |
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This expansion of
benefits may potentially affect the contribution rate schedule in future
biennia. The impact to all employers
and the timing of the impact can not be determined at this time and will
depend on the level of benefits paid, contributions received and the balance
of the trust fund when the contribution schedule is calculated. |
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The State and
other direct reimbursement employers will be required to repay the
Unemployment Compensation Trust Fund for additional benefit payments made as
a result of this legislation beginning with the current biennium. |
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