HD70 - Report on Efforts of the Virginia Employment Commission and the Virginia Liaison Office to Gain Additional Funding from FUTA Dollars


Executive Summary:
The 2006 budget passed by the Virginia General Assembly included an amendment, Item 120 G.2 of the Appropriations Act from the 2006 Special Session 1,directing the Virginia Employment Commission (VEC) and Virginia Liaison Office (VLO) to work with Virginia's Congressional Delegation to seek additional administrative dollars for the unemployment insurance program from taxes paid by Virginia employers. The target is to achieve at least 50 percent of the Federal Unemployment Tax Act (FUTA) taxes returned to Virginia. The amendment also directs the VLO to submit a report to the Governor and the chairs of the Senate Committee on Commerce and Labor, the Senate Committee on Finance, the House Committee on Labor and Commerce, and the House Committee on Appropriations by December 1, 2006, that summarizes the activities by the VEC and the VLO in furtherance of this goal.