Floor on the maximum benefit

(a) In general Section 3304(a) of the Internal Revenue Code of 1986, as amended by sections 501 and 502(a), is amended— (1) in paragraph (20), by striking and at the end; (2) by redesignating paragraph (21) as paragraph (22); and (3) by inserting after paragraph (20) the following new paragraph: (21) the maximum weekly benefit amount may not be less than 2/3 of the State's average weekly wage (as determined by the Secretary of Labor) as of October 1 of each calendar year and applied for claims effective on or after January 1 of the subsequent calendar year; and. (b) Effective date The amendments made by subsection (a) shall apply to weeks of unemployment beginning on or after the earlier of— (1) the date the State changes its statutes, regulations, or policies in order to comply with such amendments; or (2) the date that is 6 months after the date of a submission of recommendations by the Council under section 101(c)(4)(A) that includes a declaration that a significant labor market disruption has occurred or is likely to occur in a given fiscal year.