Geoff Dornan

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March 28, 2013
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Department: Bonds could more quickly pay unemployment loans

Authorizing bonds to pay down the state’s unemployment-benefit loans could save money and restore the trust fund that pays those benefits faster, the head of Nevada’s Employment Security Division told lawmakers Wednesday. The bonding plan goes hand in hand with authorizing a special assessment on employers to pay the interest on outstanding federal loans taken to pay unemployment benefits through the recession, Renee Olson said. The two are separate because federal law prohibits using trust fund money to make interest payments, she said. According to her economist, David Schmidt, the state’s total loan debt was $695 million as of Tuesday. …

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The Nevada Appeal Updated Mar 28, 2013 01:22AM Published Mar 28, 2013 01:32AM Copyright 2013 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.