This bill amends the current unemployment benefits law in Iowa, specifically addressing the maximum amount of benefits payable to individuals laid off due to their employer going out of business. Under the new provisions, the maximum total amount of unemployment benefits that an eligible individual can receive during a benefit year will be increased from 26 times to 39 times their weekly benefit amount. This change applies specifically to individuals who were laid off at the factory, establishment, or other premises where they were last employed.

Additionally, the bill maintains the existing structure for calculating wage credits, which are based on one-third of the wages for insured work during the individual's base period. However, for those laid off due to their employer's closure, the wage credits will be recalculated to one-half of the wages earned. The overall intent of the bill is to provide greater financial support to individuals affected by business closures, thereby enhancing their unemployment benefits during challenging economic times.

Statutes affected:
Introduced: 96.3