MD
Maryland Senate Bill SB104

Maryland 2024 Regular Session

Maryland Senate Bill SB104

Introduced
1/10/24  

Caption

Unemployment Insurance Modernization Act of 2024

Impact

The bill also aims to adjust the taxable wage base used for determining employer contributions to the Unemployment Insurance Trust Fund. The new approach requires adjustments to be made so that the taxable wage base is set as a percentage of the state’s average annual wage. This shift is expected to bolster the funding structure of Maryland's unemployment insurance system, potentially leading to more robust financial support for unemployed residents during economic downturns.

Summary

Senate Bill 104, titled the Unemployment Insurance Modernization Act of 2024, seeks to reform the state's unemployment insurance system in several key ways. One of the primary changes is the establishment of a new methodology for calculating the weekly benefit amounts for unemployed individuals. This involves ensuring that the minimum benefit amount is at least 15% of the state average weekly wage, with plans to increase it to two-thirds of the state average by calendar year 2027. This legislative change aims to ensure that those who are unemployed receive adequate financial support aligned with current economic realities.

Contention

While proponents may see this bill as a necessary update to the unemployment insurance system, there is potential for contention around how these changes will impact businesses. Some may argue that raising the taxable wage base and increasing employer contributions could place additional financial burdens on employers, especially small businesses. On the other hand, advocates for the bill emphasize the importance of providing a safety net for unemployed workers, arguing that a well-funded unemployment insurance trust is crucial for economic recovery and stability.

Latest SB104 Activity

Companion Bills

MD HB205

Crossfiled Unemployment Insurance Modernization Act of 2024

Similar Bills

MD HB205

Unemployment Insurance Modernization Act of 2024

MD HB554

Unemployment Insurance Modernization Act of 2025

MD SB752

Unemployment Insurance Modernization Act of 2025

MD HB724

Unemployment Insurance Modernization Act of 2023

MD SB670

Unemployment Insurance Modernization Act of 2023

KS HB2570

Substitute for HB 2570 by Committee on Commerce, Labor and Economic Development - Defining benefit year, temporary unemployment, wages and other terms in the employment security law, requiring electronic filing for certain employers, establishing qualifications for employment security board of review candidates, extending the deadline for new accounts following business acquisitions, making certain changes to the employer rate schedules and lowering rates for new employers, enabling employers to report claimant work search issues, confirming legislative coordinating council oversight for the new unemployment insurance information technology system implementation, authorizing the secretary to grant additional temporary unemployment in certain circumstances, requiring the secretary to publish certain information, abolishing the employment security interest assessment fund and providing relief for negative account balance employers.

KS SB478

Defining benefit year, temporary unemployment and other terms in the employment security law, requiring electronic filing for certain employers, establishing qualifications for employment security board of review candidates, extending the deadline for new accounts following business acquisitions, making certain changes to the employer rate schedules, enabling employers to report claimant work search issues, confirming legislative coordinating council oversight for the new unemployment insurance information technology system implementation, authorizing the secretary to grant temporary unemployment, requiring the secretary to annually publish certain data and abolishing the employment security interest assessment fund.

KS HB2401

Defining "benefit year" and "temporary unemployment" in the employment security law, allowing the extension of temporary unemployment; requiring electronic report filing by certain employers, permitting discretion in appointments and terms for the temporary employment security board of review, delaying new account formation after certain business acquisitions, requiring the new unemployment insurance system to allow employer reports regarding claimant compliance and authorizing the legislative coordinating council to extend new system implementation deadlines.