Adjusts unemployment insurance rates and establishes a fund for technology upgrades.

This bill modifies unemployment insurance rates in Kentucky. It reduces rates by a specific percentage if the unemployment insurance trust fund balance exceeds a certain amount. It also creates a service capacity upgrade fund for technology improvements at the Office of Unemployment Insurance. Payments from employers go into this fund, which is managed by the secretary of the Finance and Administration Cabinet. The fund's income is invested to ensure liquidity for technology upgrades.

Adjusts unemployment insurance rates and establishes a fund for technology upgrades.

This bill modifies unemployment insurance rates in Kentucky. It reduces rates by a specific percentage if the unemployment insurance trust fund balance exceeds a certain amount. It also creates a service capacity upgrade fund for technology improvements at the Office of Unemployment Insurance. Payments from employers go into this fund, which is managed by the secretary of the Finance and Administration Cabinet. The fund's income is invested to ensure liquidity for technology upgrades.