LAUZEN. (MADIGAN,MJ-HOFFMAN-STROGER-LINDNER) 820 ILCS 405/1506.1 from Ch. 48, par. 576.1 820 ILCS 405/1506.3 from Ch. 48, par. 576.3 Amends the Unemployment Insurance Act. Makes various changes in employers' contribution rates and fund building rates in 2002 and subsequent years. FISCAL NOTE (Department of Employment Security) The 0.1% reduction in the tax rate paid by employers would equate to a maximum tax break of $9 per covered employee for all affected employers. The estimated first year impact totals $8 million, less than one percent of all projected tax revenues that first year. Of the 288,584 employers assigned a tax rate for CY 2001, 158,305 (55%) are at the minimum tax rate and would likely benefit from the tax reduction in 2002. Unemploy- ment benefit payments would not be affected by this proposal. Illinois' unemployment trust fund, where employer taxes are deposited and from which unemployment benefits are paid, has a current balance of $1.7 billion. If future economic changes result in trust fund insolvency, State law triggers benefit freezes or reductions and an additional State surcharge on employers, and federal law triggers penalty taxes on employers and assesses interest on any debt that must be paid with other State funds. HOUSE AMENDMENT NO. 1. Deletes reference to: 820 ILCS 405/1506.1 820 ILCS 405/1506.3 Adds reference to: 820 ILCS 405/241 from Ch. 48, par. 351 Deletes everything. Amends the Unemployment Insurance Act. Makes a technical change in a Section concerning the definition of "week". FEB-21-2001 S FIRST READING FEB-21-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-28-2001 S ASSIGNED TO COMMITTEE COMM & INDUST MAR-08-2001 S DO PASS 005-004-000 SCED MAR-08-2001 S PLACED ON CALENDAR ORDER OF 2ND READING 01-03-20 APR-03-2001 S SECOND READING APR-03-2001 S PLACED ON CALENDAR ORDER OF 3RD READING 01-04-04 APR-04-2001 S THIRD READING - PASSED 033-023-000 APR-04-2001 H ARRIVE IN HOUSE APR-04-2001 H HOUSE SPONSOR MADIGAN,MJ APR-04-2001 H PLACED CALENDAR ORDER OF FIRST READING APR-05-2001 H FIRST READING APR-05-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES APR-06-2001 H ASSIGNED TO COMMITTEE LABOR APR-17-2001 H ADDED AS A JOINT SPONSOR HOFFMAN APR-18-2001 H ADDED AS A JOINT SPONSOR STROGER APR-26-2001 H FISCAL NOTE FILED APR-26-2001 H COMMITTEE LABOR MAY-03-2001 H AMENDMENT NO. 01-LABOR H MAY-03-2001 H ADOPTED MAY-03-2001 H DO PASS AMENDED/SHORT DEBATE 016-000-000 HLBR MAY-03-2001 H PLACED CALENDAR 2ND READING-SHORT DEBATE MAY-08-2001 H ADDED AS A JOINT SPONSOR LINDNER MAY-16-2001 H SECOND READING-SHORT DEBATE MAY-16-2001 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE MAY-18-2001 H 3RD RDG. DEADLINE EXTENDED-RULE 9(B)- MAY 25, 2001 MAY-18-2001 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE MAY-25-2001 H 3RD RDG. DEADLINE EXTENDED-RULE 9(B)- MAY 31, 2001 MAY-25-2001 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE MAY-31-2001 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL JAN-07-2003 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary