UNEMPLOYMENT INS- SHARED WORK

Amends the Unemployment Insurance Act. Provides for the creation of a program of shared work benefits, under which an employee retained at reduced hours instead of being laid off may receive payment of unemployment insurance benefits reduced proportionately by the employee's weekly hours worked. An employer wishing to participate in this program must submit to the Director of Employment Security a shared work compensation plan in writing identifying specific employees for participation. This application must be done once for each 12-month period of participation in the program. The Director shall approve or reject a plan in writing within 15 days of its receipt. The Director may also revoke the approval of a shared work compensation plan for good cause. Effective July 1, 2011.