Unemployment Compensation

The act: Amends the existing authority of the division of unemployment insurance (division) to issue bonds by clarifying that the division may issue the bonds through the state treasurer and granting the division the authority to levy bond assessments; Makes a temporary increase in partial unemployment benefits provided in current law permanent; Repeals the requirement that an individual wait at least one week before becoming eligible for unemployment compensation. This repeal will take effect when the unemployment compensation fund reaches a balance of at least $1 billion. Requires the division to study how to implement a dependent allowance for individuals receiving unemployment compensation. Requires the department of labor and employment to award grants to one or more third-party administrators for the purpose of providing recovery benefits to eligible individuals. The grants to the third-party administrators and the recovery benefits are funded through .00035 of the premium each employer is required to submit to the division. Provides that an individual is eligible to receive recovery benefits if the individual, regardless of the individual's immigration status: Separated from employment through no fault of the individual; received income from employment during a qualified base period or alternative base period; attests that the individual is not currently receiving any state-administered wage replacement assistance; is not eligible for state-administered wage replacement assistance for reasons related to the individual's authorization to work; and has a pay stub or form W-2 to verify the individual's employment and wage withholding. Requires an employer to provide an employee with certain information about unemployment compensation upon the employee's separation from employment; Extends the hold on an employer's solvency surcharge through calendar year 2023; Requires the state treasurer to transfer $600 million to a newly created fund. The transfer is from money received by the state through the federal "American Rescue Plan Act of 2021". The money in the fund may be used only to repay the outstanding balance of federal advances provided to the state through the unemployment insurance trust fund and interest owed on the advances. Sets forth factors that the division must consider in determining whether the repayment of overpaid unemployment compensation benefits repayment would be inequitable.(Note: This summary applies to this bill as enacted.)