Title XII loans

Connecticut Pays Off Title XII Loan – Avoids FUTA Tax Increase for 2023

By |2023-11-16T22:44:59+00:00November 16th, 2023|Categories: Unemployment Insurance|Tags: , , |

On November 8th, Connecticut Governor Lamont announced that the state was paying of the loan from the federal government that was used to pay unemployment compensation in Connecticut. See the Governor's press release at Governor Lamont 's press release reporting that Connecticut paid off pandemic-era Unemployment Trust Fund debt in advance of the November 10, 2023, [...]

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GAO Report Shows $22 billion of Recovery Funds used to Restore UI Trust Funds

By |2023-10-12T17:58:40+00:00October 12th, 2023|Categories: Unemployment Insurance|Tags: , , |

On October 11, 2023, the Government Accountability Office (GAO) released a report reviewing how State and Local Fiscal Recovery Fuds (SLFRF) were spent and/or obligated. See GAO-24-106753, COVID-19 Relief: States’ and Localities’ Fiscal Recovery Funds Spending as of March 31, 2023 The report shows spending as of March 31st, noting that Contributions to state unemployment insurance trust funds [...]

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