Vermont § 1309 Reports; solvency of Trust Fund

Vermont Statutes

§ 1309 — Reports; solvency of Trust Fund

Vermont § 1309

Title 21Title 21: Labor

Ch. 17Chapter 017: Unemployment Compensation

This text of Vermont § 1309 (Reports; solvency of Trust Fund) is published on Counsel Stack Legal Research, covering Vermont primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Vt. Stat. Ann. tit. 21, § 1309 (2026).

Text

(a)(1) On or before January 31 of each year, the Commissioner shall submit to the Governor and the Chairs of the Senate Committees on Economic Development, Housing and General Affairs and on Finance and the House Committees on Commerce and Economic Development and on Ways and Means a report covering the administration and operation of this chapter during the preceding calendar year.

(2)The report shall include:

(A)a balance sheet of the monies in the Fund and data as to probable reserve requirements based upon accepted actuarial principles, with respect to business activity, and other relevant factors for the longest available period;

(B)recommendations for amendments of this chapter as the Board considers proper; and

(C)an accounting of the amount of supplemental benefits paid to clai

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(a)(1) On or before January 31 of each year, the Commissioner shall submit to the Governor and the Chairs of the Senate Committees on Economic Development, Housing and General Affairs and on Finance and the House Committees on Commerce and Economic Development and on Ways and Means a report covering the administration and operation of this chapter during the preceding calendar year.
(2) The report shall include:
(A) a balance sheet of the monies in the Fund and data as to probable reserve requirements based upon accepted actuarial principles, with respect to business activity, and other relevant factors for the longest available period;
(B) recommendations for amendments of this chapter as the Board considers proper; and
(C) an accounting of the amount of supplemental benefits paid to claimants pursuant to subdivision 1338(e)(2) of this chapter.
(b) Whenever the Commissioner believes that the solvency of the Fund is in danger or the balance of the Fund drops below $180,000,000.00, the Commissioner shall promptly inform the Governor and the Chairs of the Senate Committees on Economic Development, Housing and General Affairs and on Finance and the House Committees on Commerce and Economic Development and on Ways and Means and make recommendations for preserving an adequate level in the Trust Fund. The provisions of 2 V.S.A. § 20(d) (expiration of required reports) shall not apply to the report to be made under this section. (Amended 1959, No. 329 (Adj. Sess.), § 22, eff. March 1, 1961; 1961, No. 210, § 5, eff. July 11, 1961; 2009, No. 124 (Adj. Sess.), § 1; 2013, No. 142 (Adj. Sess.), § 36; 2021, No. 51, § 13, eff. June 1, 2021.)