Bill > HB482

This bill proposes to reduce certain unemployment benefits by amending Section 51-1-4 of the New Mexico Statutes Annotated (NMSA) 1978. Specifically, it lowers the maximum percentage of an individual's average weekly wage that can be used to calculate their weekly benefit amount from fifty-three and one-half percent to forty-five percent, and also reduces the maximum total benefit amount an individual can receive during a benefit year from sixty percent of their base period wages to thirty-three percent. The bill also makes changes to how dependency benefits are calculated and paid, though the specific details of those changes are not detailed in the provided text. These changes aim to adjust the financial structure of unemployment compensation in New Mexico.