Honorable Brian Birdwell, Chair, Senate Committee on Natural Resources & Economic Development
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
SB150 by Springer (relating to the maximum amount of unemployment benefits payable to an individual during a benefit year under the state unemployment insurance program.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
This bill would amend the Labor Code to cap the maximum unemployment compensation benefits on a sliding scale based on this state's average unemployment rate. This bill would be effective January 1, 2024.
This analysis assumes that administrative duties and responsibilities associated with implementing the provisions of the bill could be accomplished by the Texas Workforce Commission utilizing existing resources.
The Texas Workforce Commission anticipates savings to the Unemployment Insurance Trust Fund outside the treasury.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.