H.R.290 - Unemployment Insurance Modernization Act111th Congress (2009-2010)
|Sponsor:||Rep. McDermott, Jim [D-WA-7] (Introduced 01/08/2009)|
|Committees:||House - Ways and Means|
|Latest Action:||01/08/2009 Referred to the House Committee on Ways and Means. (All Actions)|
|Notes:||For further action, see H.R.1, which became Public Law 111-5 on 2/17/2009.|
This bill has the status Introduced
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Summary: H.R.290 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in House (01/08/2009)
Unemployment Insurance Modernization Act - Amends the Social Security Act to require the Secretary of Labor to make unemployment compensation modernization incentive payments in FY2008-FY2011 by certain transfers from the federal unemployment account to the accounts of the states in the Unemployment Trust Fund.
Prescribes a formula for determining the maximum allowable incentive payments.
Specifies requirements state law must meet for the state to qualify for such a payment.
Limits the use of transferred amounts to the payment of cash unemployment benefits to individuals (including for dependents' allowances and for unemployment compensation, exclusive of administrative expenses).
Requires the Secretary of the Treasury to reserve specified funds out of the federal unemployment account for such incentive payments.