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Bill > S1216


MA S1216

To establish a Commission on Unemployment Trust Fund Solvency


summary

Introduced
03/29/2021
In Committee
03/29/2021
Crossed Over
Passed
Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

For legislation to establish a Commission on Unemployment Trust Fund Solvency. Labor and Workforce Development.

AI Summary

This bill establishes a Commission on Unemployment Trust Fund Solvency to study the long-term solvency of the unemployment trust fund in Massachusetts. The commission will have 15 members, including state officials, representatives from labor organizations, business associations, and other stakeholder groups. The commission will evaluate the experience rating system, examine increasing or indexing the taxable wage base, review solvency efforts in other states, and determine what changes are necessary to benefit from federal tax credits and interest-free borrowing. The commission is required to hold public hearings and submit a report by October 1, 2021, with recommendations for legislation to ensure the long-term solvency of the trust fund and meet solvency criteria under federal law.

Committee Categories

Labor and Employment

Sponsors (3)

Last Action

Accompanied a new draft, see S3023 (on 07/21/2022)

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