This bill amends Section 96.3 of the Iowa Code to increase the maximum amount of unemployment benefits payable to eligible individuals during a benefit year. Specifically, it raises the cap from 16 times to 26 times the individual's weekly benefit amount for the general population. Additionally, for individuals who are laid off due to their employer going out of business, the maximum benefits payable will increase from 26 times to 39 times their weekly benefit amount.

The changes aim to provide greater financial support to unemployed individuals, particularly those affected by business closures. The bill maintains the requirement that the total benefits cannot exceed the wage credits accrued in the individual's account during their base period, ensuring that the benefits are still tied to the individual's previous earnings.

Statutes affected:
Introduced: 96.3