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Summary
The bill revises how the state calculates unemployment insurance benefit ratios, sets a solvency target for the trust fund and creates a surcharge when the fund falls short. It also provides a $10,000 exemption on the net depreciated value of business personal property for qualifying small businesses and lets certain corporations exclude the first $50 million of equity contributions from the corporate license fee. These changes aim to strengthen the unemployment fund while giving tax relief to small businesses and startups.
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