Bill > H95

This bill provides for a program to improve the Unemployment Insurance Trust Fund and provide relief to employers in the Commonwealth. The key provisions are: - Authorizes the issuance of up to $7 billion in special obligation bonds to reduce the need for or repay federal advances to the Unemployment Insurance Trust Fund from 2020-2025. These bonds would be repaid through an unemployment obligation assessment on employers. - Establishes a COVID-19 Emergency Paid Sick Leave program, funded by federal COVID-19 relief funds, that requires employers to provide up to 40 hours of paid sick leave to employees for certain COVID-19-related reasons. Employers can apply for reimbursement from the state for these paid leave costs. - Allows employers to pay a reduced unemployment insurance experience rate in 2021-2022 to provide relief. - Provides temporary tax relief by exempting a portion of unemployment compensation benefits from state personal income taxes for tax years 2020-2021 for lower-income taxpayers. The bill also establishes a special commission to study the long-term solvency of the Unemployment Insurance Trust Fund and make recommendations.

https://malegislature.gov/Bills/192/H95