Ark. Code § 11-10-1002

Current with legislation from 2024 Fiscal and Special Sessions.

Section 11-10-1002 - Legislative findings and intent

The General Assembly finds that:

(1) With a recession or economic slowdown now underway, the state's unemployment trust fund faces higher claims levels and longer benefit durations that accompany any economic downturn;

(2) The Arkansas Unemployment Trust Fund:

(A) Provides partial wage replacement to workers who find themselves out of work;

(B) Provides economic stability for a community when major unemployment occurs; and

(C) Encourages workers to remain in the community and to be available for work recalls by employers;

(3) The state is in debt to the federal government for unemployment funds paid to citizens of the State of Arkansas; and

(4) The bonds should be payable from revenues raised by an unemployment obligation assessment.

Ark. Code § 11-10-1002

Acts 2011, No. 1125, § 1.