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What Does Unemployment Insurance Modernization Act (UIMA) Do?

April 26, 2017ACT Insurance modernization uima unemployment

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What Does Unemployment Insurance Modernization Act (UIMA) Do?

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• It extends the 0.2 percentage point FUTA payroll tax until 2012. • It provides $7 billion in federal incentive payments over five years to states that make certain changes to their unemployment insurance (UI) systems. • One-third of the incentive payments would go to states that modify the base period used to calculate eligibility for UI benefits to include the most recently finished calendar quarter.