The proposed bill HB2592 amends the duration of unemployment insurance (UI) benefits based on the unemployment rate in the prior calendar quarter. Under current law, individuals can receive a maximum of 26 weeks of benefits if the unemployment rate is 5% or higher, and 24 weeks if it is below 5%. The new bill modifies this structure significantly, establishing a tiered system where the duration of benefits ranges from 12 weeks for an unemployment rate of 5% or less, to 26 weeks for rates exceeding 8%.

Additionally, the bill introduces specific increments for unemployment rates between 5% and 8%, allowing for 14 weeks for rates above 5% but not exceeding 5.5%, and progressively increasing the duration up to 26 weeks for rates above 8%. This change aims to provide a more responsive UI benefit structure that aligns with fluctuations in the unemployment rate, potentially offering shorter benefits during lower unemployment periods and extending them during higher unemployment rates.

Statutes affected:
Introduced Version: 23-780