Bill > HB1320

This bill, concerning unemployment benefits, proposes to increase the weekly benefit amount for eligible individuals by $48. This increase will take effect either six weeks after the bill becomes law or on July 1, 2026, whichever comes first, and will apply to unemployment compensation claims filed on or after that date. The bill also includes an emergency clause, meaning it will take effect immediately upon becoming law. The legislation amends existing law regarding how an individual's weekly benefit amount is calculated, which is based on their total wages earned during the two highest-earning quarters of their base period, as detailed in a specific "Benefit Table" that is referenced but not fully included in the provided text. The bill also notes that these changes are projected to reduce the solvency of the Unemployment Trust Fund and that the impact on employer unemployment tax liability is indeterminate.

Budget and Finance, Business and Industry

https://lis.virginia.gov/bill-details/20261/HB1320