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Legislative Year: 2025 Change
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Bill Detail: SB25-242

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Title Division Unemployment Insurance Funding Mechanism
Status Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole (04/01/2025)
Bill Subjects
  • Labor & Employment
House Sponsors E. Sirota (D)
R. Taggart (R)
Senate Sponsors J. Bridges (D)
J. Amabile (D)
House Committee
Senate Committee Appropriations
Date Introduced 03/31/2025
AI Summary
Summary

Joint Budget Committee. The bill updates the funding
mechanism for the division of unemployment insurance (division). The
bill updates the name of the employment and training technology fund
to the unemployment insurance program support fund and expands the
use of the fund to include information technology and administrative
costs of the division.
Current law specifies how the division must use the employer
support surcharge to credit several funds. The bill modifies the
disbursement to:
  • 11% for the employment support fund (decreased from
35%);
  • 54% for the unemployment insurance program support
fund (increased from 32%);
  • 20% for the workforce development fund (increased from
14%); and
  • 15% for the benefit recovery fund (decreased from 19%).
The bill requires all money collected in each fund that is in excess
of the maximum balance amounts authorized for the fund to be credited
to the unemployment compensation fund. The bill ties the adjustments of
the fund caps to the change in average weekly earnings instead of to the
consumer price index. The bill also adjusts the cap for the unemployment
insurance program support fund.

Committee Reports
with Amendments
Full Text
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Fiscal Notes Fiscal Notes (03/31/2025) (most recent)  
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