SB 1771

Abstract

Amends the Unemployment Insurance Act. Provides that, on July 1, 2005 or as soon thereafter as may be reasonably practicable, all remaining funds in the State Employees' Unemployment Benefit Fund shall be transferred to the clearing account, and provides that the State Employees' Unemployment Benefit Fund is abolished upon the transfer of those funds. Provides that, on and after July 1, 2005, transfers to the clearing account for payment of benefits to individuals with respect to whom the State or its wholly owned instrumentalities is the last employer shall be made directly from such funds and accounts as the appropriations to the Department of Employment Security authorize, as designated by the Director of Employment Security. Eliminates certain language regarding transfers in 1989 and earlier years, and makes other changes. Effective July 1, 2005.