Unemployment bill eases employers' burden

Florida businesses can expect future savings on rising unemployment compensation taxes resulting from a comprehensive unemployment compensation reform measure.

The minimum tax rate for businesses nearly tripled this year from last year and faces further increases to cover interest and principal payments on more than $2 billion borrowed from the federal government to pay claims.

Gov. Rick Scott signed House Bill 7005, which creates a sliding scale for benefits beginning in 2012 by tying the maximum weeks of benefits to the unemployment rate. The bill reduces the maximum number of benefits available from 26 weeks to 23 when the unemployment rate is 10.5% or greater. The number of weeks scales back to 12 weeks of benefits when the unemployment rate is 5% or less.