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NV AB21

NV AB21
Revises provisions relating to unemployment compensation. (BDR 53-308)


summary

Introduced
02/04/2025
In Committee
05/12/2025
Crossed Over
04/14/2025
Passed
05/23/2025
Dead
Signed/Enacted/Adopted
05/27/2025

Introduced Session

83rd Legislature (2025)

Bill Summary

AN ACT relating to unemployment compensation; eliminating provisions requiring the Administrator of the Employment Security Division of the Department of Employment, Training and Rehabilitation to annually perform certain calculations to determine certain information relating to the solvency of the Unemployment Compensation Fund; revising the amount of certain money that is required to be annually transferred from the Unemployment Compensation Administration Fund to the Unemployment Compensation Fund; and providing other matters properly relating thereto.

AI Summary

This bill revises provisions related to unemployment compensation in Nevada by making two primary changes. First, it eliminates the requirement for the Administrator of the Employment Security Division to perform annual calculations to determine the solvency of the Unemployment Compensation Fund, specifically removing provisions that previously required detailed annual assessments of unemployment risk ratios, potential beneficiaries, and potential annual benefits. Second, the bill modifies the fiscal transfer rules by extending the period for which unencumbered funds from the Unemployment Compensation Administration Fund can be transferred to the Clearing Account from the first 90 days to the first 180 days of the succeeding fiscal year. The bill maintains the existing framework of unemployment compensation law, which requires employers to pay contributions into the Unemployment Compensation Fund and provides benefits to unemployed individuals who meet certain requirements. These changes appear designed to simplify administrative processes and provide more flexibility in managing unemployment compensation funds. The bill will take effect immediately upon passage and approval.

Committee Categories

Business and Industry

Sponsors (0)

No sponsors listed

Other Sponsors (1)

Commerce and Labor (A)

Last Action

Chapter 11. (Effective May 26, 2025) (on 05/27/2025)

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