First Regular Session H.B. 2805
PROPOSED
SENATE AMENDMENTS TO H.B. 2805
(Reference to House engrossed bill)
Page 5, after line 7, insert:
"Sec. 3. Appropriations; budget stabilization fund; transfer; exemption
A. The sum of $100,000,000 is appropriated from the state general fund in fiscal year 2020-2021 to the budget stabilization fund established by section 35-144, Arizona Revised Statutes, for the purposes prescribed in this section.
B. On or before June 5, 2021, the department of economic security shall report to the state treasurer the balance in the unemployment insurance trust fund as of June 1, 2021 and shall indicate the estimated balance that is projected to be needed to cause the average employer tax rate to be below or approximately at 2.00 percent for calendar year 2022. Based on these two balances, the department shall report a recommended dollar amount to be added to the unemployment insurance trust fund to cause the unemployment insurance trust fund balance to be the lesser of $900,000,000 or the amount to cause the average employer tax rate to be below or approximately at 2.00 percent.
C. Notwithstanding section 35-144, Arizona Revised Statutes, on or before June 20, 2021, the state treasurer shall transfer the amount recommended by the department of economic security in the report prescribed by subsection B of this section from the monies appropriated pursuant to subsection A of this section, up to $100,000,000, to the unemployment trust fund account of the unemployment compensation fund established by section 23-701, Arizona Revised Statutes.
D. If the amount recommended by the department of economic security in the report prescribed by subsection B of this section exceeds $100,000,000, the department of economic security shall report the difference to the joint legislative budget committee on or before June 5, 2021.
E. The appropriation made in subsection A of this section is exempt from the provisions of section 35-190, Arizona Revised Statutes, relating to lapsing of appropriations."
Amend title to conform