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Unemployment Benefits Bill Helps Ensure Wisconsin Businesses Continue to Bounce Back PDF Print E-mail
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Written by GOV Press Wisconsin   
Friday, 09 July 2021 10:19

construction-jobsNew law keeps current unemployment tax rates on employers by transfer of $60 million each fiscal year from general fund.


MADISON — Gov. Tony Evers signed Assembly Bill 406 , now 2021 Wisconsin Act 59, on Thursday which prevents the increase of unemployment insurance (UI) contribution rates, otherwise known as the UI tax rates, on employers by ensuring the state remains in Schedule D in tax years 2022 and 2023, while offsetting lost revenue by requiring $60 million GPR be transferred to the trust fund each of the next two fiscal years. 

tony-evers“I am glad to be signing this bill today to ensure Wisconsin businesses and employers that were hit hard by the pandemic can continue to recover without having an undue burden of an increase in their UI tax rates,” said Gov. Evers. “We're going to continue to provide targeted relief to workers and employers who need it most and make sure our workers, families, and economy bounce back from the COVID-19 pandemic better than before it hit.”

Assembly Bill 406, now 2021 Wisconsin Act 59:

  • Prevents the increase of unemployment tax rates on employers by ensuring the state remains in Schedule D in tax years 2022 and 2023; and
  • Requires $60 million GPR be transferred to the trust fund in each fiscal year of the biennium to offset lost revenue.
 
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