summary
Introduced
01/25/2021
01/25/2021
In Committee
02/11/2021
02/11/2021
Crossed Over
Passed
Dead
03/20/2021
03/20/2021
Introduced Session
2021 Regular Session
Bill Summary
AN ACT RELATING TO UNEMPLOYMENT COMPENSATION; PROVIDING A TEMPORARY ADDITION TO THE CONTRIBUTION RATE OF CONTRIBUTING EMPLOYERS AND A TEMPORARY INCREASE TO THE BASE WAGE FOR WHICH EMPLOYER CONTRIBUTIONS TO THE UNEMPLOYMENT COMPENSATION FUND ARE MADE; MAKING AN APPROPRIATION.
AI Summary
This bill:
- Temporarily adds a two-tenths percent contribution rate increase for all contributing employers from January 1, 2022 to January 1, 2024.
- Temporarily increases the base wage for which employer contributions to the unemployment compensation fund are made from 60% of the state's average annual earnings to 88% for the same time period.
- Appropriates $300 million from the general fund to the Workforce Solutions Department to pay unemployment compensation claims in fiscal year 2021. Any unexpended or unencumbered balance will be transferred to the general fund operating reserve if federal funds are deposited in the unemployment compensation fund prior to June 29, 2021, otherwise the balance will be transferred to the unemployment compensation fund.
Committee Categories
Budget and Finance, Military Affairs and Security
Sponsors (1)
Last Action
(on 01/01/1900)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/lcs/legislation.aspx?chamber=H&legtype=B&legno=148&year=21 |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/bills/house/HB0148.pdf |
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