SB790: Unemployment compensation bills; impact statement.
Be it enacted by the General Assembly of Virginia:
1. That § 30-19.03:1.2 of the Code of Virginia is amended and reenacted as follows:
§ 30-19.03:1.2. Unemployment compensation bills affecting net revenues of the Commonwealth.
A. The Virginia Employment Commission, in consultation with
the Department of Planning and Budget, shall prepare a statement reflecting the potential revenue losses, in
the form of decreased tax revenues, attributable to projected impact on the
solvency level of the unemployment trust fund and the average increase in state
unemployment tax liability of employers on a per-employee basis over the ensuing eight years that would result
from the enactment of any bill that enhances the benefits
payable to an individual pursuant to Title 60.2.
B. No bill enhancing the benefits payable to an individual
pursuant to Title 60.2 shall be considered by the General Assembly at a regular
session unless the bill contains a revenue loss
statement prepared in accordance with subsection A as a second or final
enactment clause in the bill.
C. For the purposes of this section, legislation that "enhancingenhances
the benefits payable to a claimant an individual"
includes any legislation that would facilitate the receipt, or increase the
amount, of unemployment compensation benefits that an otherwise qualified claimant
is eligible to receive on an annual basis.