Wisconsin Statutes 16.48 – Unemployment reserve financial statement
Current as of: 2023 | Check for updates
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Terms Used In Wisconsin Statutes 16.48
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Minority leader: See Floor Leaders
- Year: means a calendar year, unless otherwise expressed; "year" alone means "year of our Lord". See Wisconsin Statutes 990.01
(1) No later than May 31 of each even-numbered year, the secretary of workforce development shall prepare and furnish to the governor, the speaker of the assembly, the minority leader of the assembly, the majority and minority leaders of the senate, and the council on unemployment insurance, a statement of unemployment insurance financial outlook, which shall contain all of the following, together with the secretary’s recommendations and an explanation for such recommendations:
(am) Projections of unemployment insurance operations under current law through at least the 2nd year following the close of the biennium, including benefit payments, tax collections, borrowing or debt repayments and amounts of interest charges, if any.
(bm) Specific proposed changes, if any, in the laws relating to unemployment insurance financing, benefits, and administration.
(c) Projections specified in par. (am) under the proposed laws.
(d) The economic and public policy assumptions upon which the projections are based, and the impact upon the projections of variations from those assumptions.
(e) If significant cash reserves in the unemployment reserve fund are projected throughout the forecast period, a statement giving the reasons why the reserves should be retained in the fund.
(f) If unemployment insurance program debt is projected at the end of the forecast period, the methods proposed to liquidate the debt.
(3) Biennially, no later than January 31 of each even-numbered year, the secretary of workforce development shall submit to the governor, the speaker of the assembly, the minority leader of the assembly, the majority and minority leaders of the senate, and the council on unemployment insurance the statement of unemployment insurance financial outlook prepared under sub. (1), together with a report that summarizes the deliberations of the council and the position of the council regarding any proposed change to the unemployment insurance laws submitted under sub. (1).
(4) The department shall post the most recent version of the statement prepared under sub. (1) and the most recent version of the report prepared under sub. (3) on the department’s Internet site.