Economic Assistance Program Law (Temporary Provision - Swords of Iron), 5784-2023

The law sets an aid mechanism for businesses and workers harmed by the Swords of Iron war. Aid to businesses: businesses are entitled to compensation for indirect damage caused by the war. Compensation is calculated from turnover in the year before the war and the rate of drop in turnover during the war. It ranges from 30% to 80% of fixed expenses, depending on the drop in turnover. Small and medium businesses not in real estate can get compensation of up to 400,000 shekels, depending on their turnover. Businesses that closed or reported zero turnover in a certain period may be eligible even if they do not meet the turnover-drop condition. Aid to workers: workers whose employment was stopped because of the war are entitled to increased unemployment benefits. The qualifying period for unemployment benefits is shortened to 12 months (instead of 18). The maximum payment period is extended by 30 days. Workers who were fired or put on unpaid leave for at least 14 days can get unemployment benefits even if they did not complete the usual qualifying period. Other provisions: the law also sets a mechanism to reimburse the National Insurance Institute for payments made under it. It allows certain periods related to unemployment benefits and compensation to be extended, and lets the finance minister, with the approval of the Knesset Finance Committee, set further provisions to implement the law. The law is valid for a limited time, from its publication until December 31, 2024.

Source: חוק - פרסום ברשומות