Budget Amendment ID: FY2022-S3-67

GOV 67

Federal Funds to shore up the UI Solvency Fund

Messrs. Tarr and Lesser moved that the proposed new text be amended by inserting after section _ the following:-

"SECTION _. Notwithstanding any general or special laws to the contrary the comptroller of the commonwealth shall deposit not more than $4,000,000,000 into the unemployment trust fund as established under section 53A of chapter 151ACh 151A §53A from federal sources including but not limited to the American rescue Plan Pub.L. 117-2, to the extent allowed under Federal Laws, Rules, and Regulations, for the purpose of offsetting the deficit in said fund.

SECTION_. Following deposit of said funds, the department of unemployment assistance shall adjust employer accounts accordingly through credits or other such mechanisms to reflect the adjusted fund balance based on the deposit of funds authorized and directed by section 1 of this act."