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AB-1596 Unemployment: federal unemployment account: advances repayment.(2021-2022)



Current Version: 01/03/22 - Introduced

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AB1596:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2021–2022 REGULAR SESSION

Assembly Bill
No. 1596

Introduced by Assembly Member Choi
(Coauthors: Assembly Members Chen, Fong, Gallagher, Mathis, Nguyen, and Voepel)
(Coauthors: Senators Borgeas, Jones, and Ochoa Bogh)

January 03, 2022

An act relating to unemployment, and making an appropriation therefor.


LEGISLATIVE COUNSEL'S DIGEST


AB 1596, as introduced, Choi. Unemployment: federal unemployment account: advances repayment.
Existing law authorizes the Director of Employment Development to apply for an advance to the Unemployment Fund and accept the responsibility for the repayment of the advance in accordance with the conditions specified in Title XII of the Social Security Act, as amended, to secure the advantages available under the provisions of that title. Existing law authorizes the federal government to make advances to the states from the federal unemployment account in the federal Unemployment Trust Fund and requires repayment of those advances, with interest, as specified. Existing law authorizes the governor of any state to request that funds be transferred from a state account to the federal unemployment account in repayment of part or all of the balance of advances, as specified.
This bill would appropriate $19,300,000,000 from the General Fund to the Employment Development Department for the purpose of repaying all advances from the federal unemployment account, as specified.
Vote: 2/3   Appropriation: YES   Fiscal Committee: YES   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 (a) The sum of nineteen billion three hundred million dollars ($19,300,000,000) is hereby appropriated from the General Fund to the Director of Employment Development for the purpose of fully repaying, prior to September 30, 2022, all advances from the federal unemployment account.
(b) Notwithstanding any other law, the Director of Finance may augment the amount appropriated pursuant to subdivision (a) as necessary to fully repay all advances from the federal unemployment account as of the date of the repayment.
(c) Any funds appropriated in excess of the amount necessary to fully repay all advances from the federal unemployment account shall revert to the General Fund on October 15, 2022.
(d) Within 30 days of the repayment required by subdivision (a), the Director of Finance shall report the total amount paid in writing to the chairpersons of the fiscal committees in each house of the Legislature and the Chairperson of the Joint Legislative Budget Committee.