A bill to amend the Federal-State Unemployment Compensation Act of 1978 to maintain current provisions (scheduled to be repealed) relating to the State trigger and to restore a former provision relating to the insured unemployment rate.

Amends the Federal-State Extended Unemployment Compensation Act of 1970 to restore specified provisions of the extended unemployment compensation program which were amended by the Omnibus Budget Reconciliation Act of 1981 (the "Omnibus Act").

Retains the levels of insured unemployment required to trigger the payment of extended benefits to unemployed workers who have exhausted their regular State benefits (these "State trigger" levels are currently scheduled to be raised on September 25, 1982, by the Omnibus Act).

Restores the requirement that claims for extended and sharable regular compensation (as well as for regular compensation) be included in the determination of the rate of insured unemployment.