- Eliminates the allocation of the technology fund balance to the unemployment compensation fund when the unemployment compensation fund balance falls below $100 million;
- Eliminates the $10 million cap on annual allocations to the technology fund and adds a new, $7 million annual cap starting July 1, 2023;
Eliminates theAdds a cap of $31 million on cumulative revenue to the technology fund until June 30, 2023 ;
- Transfers any amounts credited to and remaining in the technology fund between July 1, 2020, and the effective date of the bill to the unemployment compensation fund; and
- Repeals the assessment for the technology fund on June 30, 2031.
(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)