The regular session of the 2013-2014 biennium of the North Carolina General Assembly is underway and it got off to a quick start. A major piece of legislation, UI Fund Solvency & Program Changes "House Bill 4" has already passed the House and is on the Senate calendar for the 12th of February. This is very quick action by the General Assembly. Here are some of the details of the bill:
- cuts
the maximum benefits paid to unemployed workers by roughly one-third, from $535
a week to $350
- helps
pay down the $2.57 billion that the state borrowed from the federal government
- reduces the maximum weeks of benefits from 26 to a sliding scale of between 12
and 20 weeks, depending on the unemployment rate.
The bill would shave approximately three
years off of the time it would take to repay the federal government by slightly raising state unemployment taxes paid by most
businesses and expanding the number of employers that contribute to the
state unemployment trust fund. This is not going to play well for those business that are not currently subject to the unemployment tax but the debt owed to the federal government is a drag on our economic development efforts. If you want to make any comments to your state legislators you had better do it quickly but it might just be to late.
This is first of many bills that will have a significant impact on you as a business person. I understand that the state's tax structure will undergo some changes that will impact business and there are some proposals that will impact the education of our children. This always has an impact on business. So stand by and keep your eyes and ears open. Things are going to pop quickly.
Read more here: http://www.newsobserver.com/2013/02/05/2658339/jobless-bill-advances-to-senate.html#emlnl=Politics#storylink=cpy
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