Revises provisions relating to unemployment compensation. (BDR 53-308)

The Unemployment Compensation Law, in general: (1) requires employers to pay contributions into the Unemployment Compensation Fund at a certain rate of the wages paid by the employer for employment; and (2) makes persons who have become unemployed and comply with certain requirements eligible for benefits from the Unemployment Compensation Fund in an amount based on the person's previous wages for employment. (Chapter 612 of NRS) Section 1 of this bill eliminates provisions requiring the Administrator of the Employment Security Division of the Department of Employment, Training and Rehabilitation, on or before September 30 of each year, to perform certain calculations to determine certain information relating to the solvency of the Unemployment Compensation Fund. (NRS 612.550) Existing law requires, with certain exceptions, each employer to make payments, at the rate of .05 percent of the wages the employer pays, into the Unemployment Compensation Administration Fund. (NRS 612.606) Existing law requires the money collected from such payments to be used for certain purposes relating to the employment and training of unemployed persons and persons employed in this State. (NRS 612.606, 612.607) Under existing law, at the end of each fiscal year, the State Controller is required to transfer into the Clearing Account in the Unemployment Compensation Fund the amount by which the unencumbered balance of the money collected from such payments exceeds the amount of that money which the Legislature has authorized for expenditure during the first 90 days of the succeeding fiscal year. (NRS 612.607) Section 2 of this bill revises the amount of the required transfer to be the amount by which the unencumbered balance of the money collected from such payments exceeds the amount of that money which the Legislature has authorized for expenditure during the first 180 days of the succeeding fiscal year.