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Relating to the computation of the replenishment ratio used to determine an employer's unemployment compensation tax rate.
No significant fiscal implication to the State is anticipated. However, the Unemployment Trust Fund Account, held outside the State Treasury, would incur an
estimated deficit of $5.4 billion for tax years 2021 and 2022.
HB 7 would bar the unemployment commission from including the amount of benefits paid to be charged to an employer if the Governor declares at least 50% of the counties in Texas to be in a state of disaster or emergency.
Texas Action is neutral on HB 7. While HB 7 does increase government spending, it also protects small businesses who lost employees due to forced government shutdowns.