Bill Text: HI SB1159 | 2022 | Regular Session | Amended
Bill Title: Relating To Employment Security.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2021-12-10 - Carried over to 2022 Regular Session. [SB1159 Detail]
Download: Hawaii-2022-SB1159-Amended.html
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THE SENATE |
S.B. NO. |
1159 |
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THIRTY-FIRST LEGISLATURE, 2021 |
S.D. 2 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO EMPLOYMENT SECURITY.
BE IT
ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that the coronavirus disease 2019 (COVID-19) pandemic devastated Hawaii's economy. Many businesses in the State could not continue to keep their employees working the same hours as before, and many employees were laid off. Among the employees who remained employed, many of their work hours were reduced due to lower demand for their respective employers' services. These factors affected the aggregate amount of wages paid, which affected the amount of moneys that employers contributed to the unemployment compensation trust fund. As unemployment reached staggering levels as high as twenty-five per cent, over $600,000,000 from the fund was expended in less than three months.
The legislature also finds that as a result of the reduction of the moneys in the unemployment compensation trust fund, the State, which is responsible for ensuring that there are sufficient moneys in the fund, borrowed hundreds of millions of dollars from the federal government for this purpose. The legislature recognizes the importance of timely paying this loan obligation.
The purpose of this Act is to appropriate moneys from the general fund to repay the federal government for its loan to the State for the purpose of paying unemployment benefit claims.
SECTION 2. There is appropriated out of the general revenues of the State of Hawaii the sum of $ or so much thereof as may be necessary for fiscal year 2021-2022 and the same sum or so much thereof as may be necessary for fiscal year 2022-2023 for the purpose of reimbursing the federal government for moneys lent to the State for the payment of unemployment benefit claims.
The sums appropriated shall be expended by the department of labor and industrial relations for the purposes of this Act.
SECTION 3. This Act shall take effect on July 1, 2050.
Report Title:
Employment Security; Unemployment Compensation Trust Fund; Appropriation
Description:
Appropriates unspecified sums of general fund revenues for fiscal years 2021-2022 and 2022-2023 for the purpose of reimbursing the federal government for moneys lent to the State for the payment of unemployment benefit claims. Effective 7/1/2050. (SD2)
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
