Unemployment Insurance Modernization Act of 2026

SB 3 modernizes Maryland's unemployment insurance system by changing how weekly benefit amounts and employer contributions are calculated. It sets the maximum weekly benefit at 40% of the state's average weekly wage (up from fixed amounts) and bases employer taxable wages on 16% of the state's average annual wage, both updated annually. This directly affects unemployed workers (through revised benefit calculations) and employers (through adjusted contribution rates). The Maryland Department of Labor must publish the state average wage data online by January 31 each year to implement these changes.