Raleigh Chamber: GA Update: Weekly Legislative Session Recap And Related News

Press release from the Raleigh Chamber:

6/7/2021

As the American economy begins to rebound from an unprecedented year of pandemic related hardship, we must rebuild the workforce to meet the job demands of an emerging economy. executive order Senate Bill 116: Putting North Carolina Back to Work Act.

• Withdraw from the Federal Pandemic Unemployment Compensation program (FPUC) agreement that provides an additional $300 per week to unemployment insurance claimants through September 6, 2021.
• Allow individual and corporate taxpayers, for the 2020 and 2021 tax years only, an income tax deduction for expenses paid using a loan forgiven under the Paycheck Protection Program.
• Exclude $10,200 of unemployment insurance benefits received in 2020 from State taxable income for taxpayers with an adjusted gross income below $150,000.

House Bill 128: An Act to Reemploy NC’s Workforce

• $1,500 bonus for accepting reemployment within 30 days of the bill becoming law.
• $800 bonus for accepting reemployment within 60 days of the bill becoming law.
• No bonus paid for accepting reemployment after September 6, 2021 (current expiration date of federal supplemental unemployment insurance payments).

Millions of North Carolinians lost their jobs during the pandemic and relied heavily on unemployment benefits. However, as we are phasing out of the pandemic, local and state governments are working to get North Carolinians employed. learn more webpage

This press release was produced by the Raleigh Chamber. The views expressed here are the author’s own.