Employment support fund-amendments.

Plain English Breakdown

The exact impact on unemployment benefits and administrative expenses is not specified in the official source material.

Changes to Employment Support Fund

This law changes how money is handled and reported for the Employment Support Fund, which helps people who lost their jobs.

What This Bill Does

• Money in the Employment Support Fund will stay in the fund at the end of each fiscal year instead of reverting to another fund.
• The department must report annually about expenditures and balance of the Employment Support Fund.

Who It Names or Affects

• People who receive unemployment benefits
• The department that manages the Employment Support Fund

Terms To Know

Employment Support Fund

A special account with money to help people who lost their jobs and need financial support.

Fiscal Year

The period of time (usually a year) used for budgeting and accounting purposes by the government.

Limits and Unknowns

• This law does not specify how much money will be in the Employment Support Fund.
• It is unclear what specific changes this might bring to unemployment benefits or administrative expenses.

Official Summary Text

Bill Summary - 22LSO-0324
Bill No.:

HB0079

Effective:

Immediately

LSO No.:

22LSO-0324

Enrolled Act No.:

HEA No. 0014

Chapter No.:

22

Prime Sponsor:

Joint Appropriations Committee

Catch Title:

Employment support fund-amendments.

Subject:

Retention of Money in the Employment Support Fund.

Summary/Major Elements:

The Employment Support Fund provides funding for employment compensation benefits and administrative expenses.

Under existing law, unappropriated money in the Employment Support Fund is transferred to the State Unemployment Insurance Trust Fund at the end of each fiscal year.

This act authorizes the money in the Employment Support Fund to remain in the fund at the end of each fiscal year.

The act requires annual reporting on the expenditures and balance of the Employment Support Fund.

Comments:

Requires a report.
The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent.

While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.

Current Bill Text

22LSO-0324

ORIGINAL House

Bill No
.
HB0079

ENROLLED ACT NO. 14,

HOUSE OF REPRESENTATIVES

SIXTY-SIXTH LEGISLATURE OF THE STATE OF WYOMING
2022 Budget Session

AN ACT relating to unemployment compensation; specifying that monies in the fund shall not revert; requiring reporting; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.

W.S. 27
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3
‑
211(a) and by creating a new subsection (c) is amended to read:

27
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3
‑
211.

Employment support fund established.

(a)

There is established the employment support fund. Revenues allocated pursuant to W.S. 27
‑
3
‑
505(a) shall be credited to the employment support fund by the department, with receipt and acknowledgement submitted to the state treasurer. The state treasurer shall invest available revenues in the fund in accordance with law, and earnings from those investments shall be credited to the fund.

Notwithstanding W.S. 9
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2
‑
1008 and 9
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4
‑
207, t
he monies in the employment support fund shall not revert
.
to the general fund at the end of any fiscal year, except that any unappropriated amounts remaining in the fund at the end of any fiscal year shall be transferred by the state treasurer to the state unemployment insurance trust fund created pursuant to W.S. 27
‑
3
‑
209.

(c)

The department shall report annually to the joint appropriations committee and the joint labor, health and social services interim committee not later than September 1 of each year on the status of the employment support fund, detailing fund expenditures and the fund's current balance.

Section 2.

This act is effective immediately upon completion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constitution.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the House.

Chief Clerk

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