LAUZEN. (MADIGAN,MJ-HOFFMAN-STROGER-LINDNER) 820 ILCS 405/1506.3 from Ch. 48, par. 576.3 Amends the Unemployment Insurance Act. Eliminates provisions specifying fund building rates for certain employers in 2002 and subsequent years. FISCAL NOTE (Department of Employment Security) Elimination of the 0.4% fund builder would equate to a maximum tax break of $36 per covered employee for all affected employ- ers. The estimated first year impact totals $176 million (15% of all projected tax revenues that first year. All 288,584 employers assigned a tax rate for CY 2001 would benefit from the tax reduction in 2002. Unemployment benefit payments would not be affected by this proposal. Illinois' unemployment trust fund, where employer taxes are deposited and from which unem- ployment benefits are paid, has a current balance of $1.7 bil- lion. If future economic changes result in trust fund insolven- cy, State law triggers benefit freezes or reductions and an additional State surcharge on employers, and federal law trig- gers 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 405/1506.3 Adds reference to: 820 ILCS 405/3200 from Ch. 48, par. 820 Deletes everything. Amends the Unemployment Insurance Act. Makes a technical change in a Section concerning the short title of the Act. 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-05-2001 S VERIFIED APR-05-2001 S THIRD READING - PASSED 032-025-000 APR-05-2001 H ARRIVE IN HOUSE APR-05-2001 H HOUSE SPONSOR MADIGAN,MJ 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