We like to keep you updated on all things unemployment, and recently there was an update on the Revise Unemployment Compensation Law bill.
Legislation: On the heels of Ohio Senate Bill (S.B) 235 signed by the governor and effective March 28, 2017, which increased the taxable wage base to $9,500 per employee and freezes the maximum weekly benefit at the 2017 amounts for 2018 & 2019, comes proposed House Bill (H.B.) 382.
Ohio House Bill 382 is recommending raising the taxable wage base to $11,000 per employee, continuing the maximum weekly benefit amount freeze for ten years, reducing the number of maximum benefit weeks from 26 to 24, and requiring employees to pay coinsurance payments when said employee satisfies the monetary requirements to receive unemployment benefits.
The Revise Unemployment Compensation Law bill has been introduced to the House by Representative Schuring and referred to the Government Accountability and Oversight Committee for review.
Sheakley will keep you apprised to all developments in this bill or any other legislation that will influence your business’ unemployment program.
*** Note: Ohio Unemployment rate is currently sitting at 4.7%***