SB 297 Unemployment compensation; fund balance factor.
Walter A. Stosch | all patrons    ...    notes
| add to my profiles

Summary:
Unemployment compensation; fund balance factor. Expands the net assets considered in determining trust fund adequacy. Current law takes into account the Commonwealth's trust fund account in the U.S. Treasury plus amounts withdrawn from that account, but not expended. The amendment would include those amounts plus (i) employer payments not yet transferred to such account, (ii) net employer taxes receivable, and (iii) amounts due from claimants and from other states. From that amount would be deducted payables due to claimants, employers, other funds of the Virginia Employment Commission, and other states. The bill effectively changes the fund's accounting basis from cash to a modified accrual.

Full text:
01/19/96  Senate: Presented & ordered printed 961037805  pdf
03/08/96  Senate: Bill text as passed Senate and House (SB297ER)  pdf
03/28/96  Governor: Acts of Assembly Chapter text (CHAP0305)  pdf

Status:
01/19/96  Senate: Presented & ordered printed 961037805
01/19/96  Senate: Referred to Committee on Commerce and Labor
01/29/96  Senate: Reported from Commerce and Labor (13-Y 2-N)
01/30/96  Senate: Const. reading disp. (40-Y 0-N), passed by for the day
01/30/96  Senate: VOTE: CONST. READING DISPENSED (40-Y 0-N)
01/31/96  Senate: Read second time and engrossed
02/01/96  Senate: Read third time and passed Senate (32-Y 8-N)
02/01/96  Senate: VOTE: PASSAGE (32-Y 8-N)
02/01/96  Senate: Communicated to House
02/02/96  House: Placed on Calendar
02/05/96  House: Read first time
02/05/96  House: Referred to Committee on Commerce and Labor
02/13/96  House: Assigned to L. & C. sub-committee: 1
02/21/96  House: Reported from Labor and Commerce (22-Y 0-N)
02/22/96  House: Read second time
02/23/96  House: Read third time
02/23/96  House: Passed House (Block Vote) (99-Y 0-N)
02/23/96  House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
03/08/96  Senate: Bill text as passed Senate and House (SB297ER)
03/11/96  Senate: Enrolled
03/11/96  House: Signed by Speaker
03/11/96  Senate: Signed by President
03/22/96  Governor: Approved by Governor-Chapter 305 (effective 7/1/96)
03/28/96  Governor: Acts of Assembly Chapter text (CHAP0305)