Existing unemployment insurance law requires the Employment Development Department to submit to the Legislature in May and October of each year a report on the status of the Unemployment Fund and the Unemployment Compensation Disability Fund, containing actual and forecasted information on each fund, as specified.

This bill would additionally require the department, whenever the Unemployment Fund indicates a negative balance, to include in the status report on the Unemployment Fund the estimated impact on employers from the changes in a specified federal tax credit and the estimated amount the state is expected to pay in interest charges on any outstanding loan to the federal government.