Bill Text: CA AB226 | 2011-2012 | Regular Session | Amended

---

Bill Title: Unemployment insurance: reporting requirements: status

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2012-08-30 - Ordered to inactive file pursuant to Senate Rule 29. Ordered to inactive file at the request of Senator Dutton. [AB226 Detail]

Download: California-2011-AB226-Amended.html

---

BILL NUMBER: AB 226	AMENDED
	BILL TEXT

	AMENDED IN ASSEMBLY  APRIL 14, 2011
	AMENDED IN ASSEMBLY  APRIL 6, 2011

INTRODUCED BY   Assembly Member Solorio

                        FEBRUARY 2, 2011

   An act to amend Section 995 of the Unemployment Insurance Code,
relating to unemployment insurance.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 226, as amended, Solorio. Unemployment insurance: reporting
requirements: status of funds.
   Existing unemployment insurance law requires the Employment
Development Department to submit to the Legislature in May and
October of each year a report on the status of the Unemployment Fund
and the Unemployment Compensation Disability Fund, containing actual
and forecasted information on each fund, as specified.
   This bill would additionally require the department, whenever the
Unemployment Fund indicates a negative balance, to include in the
status report on the Unemployment Fund the estimated impact on
employers from the changes in a specified federal tax credit 
, any estimated impact on employees, and the estimated impact on the
General Fund that would result pursuant to existing law if the
Unemployment Fund is not returned to solvency within 7 years
  and the estimated amount the state is expected to pay
in interest charges on any outstanding loan to the federal government
 .
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 995 of the Unemployment Insurance Code is
amended to read:
   995.  (a) Notwithstanding Section 10231.5 of the Government Code,
the department shall submit to the Legislature in May and October of
each year a report on the status of the Unemployment Fund and the
Unemployment Compensation Disability Fund. Each report shall include
both actual and forecasted information on the fund balances,
receipts, disbursements, claim data, tax rates, and employment
levels. 
   (b) Whenever the Unemployment Fund indicates a negative balance,
the department shall include in the status report on the Unemployment
Fund the estimated impact on employers from the changes in the
Federal Unemployment Tax Act (FUTA) tax credit, any estimated impact
on employees, and the estimated impact on the General Fund that would
result pursuant to existing law if the Unemployment Fund is not
returned to solvency within seven years.  
   (c) For purposes of this section, "solvency" means that the
Unemployment Fund contains a positive balance so that this fund is
able to pay all of its obligations during the calendar year.
 
   (b) Whenever the Unemployment Fund indicates a negative balance,
the department shall include in the status report on the Unemployment
Fund the estimated cost impact on employers from the changes in the
Federal Unemployment Tax Act (FUTA) tax credit and the estimated
amount the state is expected to pay in interest charges on any
outstanding loan to the federal government.