Friday, July 1, 2011

Scott signs Fla. unemployment comp benefit cut

The unemployment bill (HB 7005) is intended to cut employers' taxes by reducing maximum state benefits for jobless workers.

The cap will drop from 26 to 23 weeks if Florida's unemployment rate is at least 10.5 percent. If it falls below that level the maximum benefits also will decline on sliding scale to as little as 12 weeks for a jobless rate of 5 percent or less. Florida's unemployment rate stood at 10.6 percent in May.

The new law applies only to state benefits, not those provided by the federal government. It won't affect this year's tax rates but is expected to cut them by about $18 per worker in 2012

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