SB 23-232

  • Colorado Senate Bill
  • 2023 Regular Session
  • Introduced in Senate Apr 05, 2023
  • Passed Senate Apr 04, 2023
  • Passed House Apr 15, 2023
  • Signed by Governor May 01, 2023

Unemployment Insurance Premiums Allocation Federal Law Compliance

Abstract

For purposes of complying with requirements of the "Federal Unemployment Tax Act", the act reduces employer premium rates by 10% across all rates in the standard premium rate schedule. Additionally, the act creates a schedule for the support surcharge rate (schedule), which is used to establish contributions to the employment support fund, the employment and training technology fund, and the benefit recovery fund. The new schedule uses the same methodology as is used in calculating an employer's percent of excess, which is the percentage resulting from the calculation of an employer's excess of premiums paid over benefits charged, divided by the average chargeable payroll. The act changes the cap on the amount of money in the employment support fund at the end of any state fiscal year from an amount calculated based on a portion of the employer premium plus $17 million to a total of $32.5 million for the next state fiscal year, which amount is adjusted annually based on changes in average weekly earnings. The act expands the authorized use of money in the Title XII repayment fund to allow the division of unemployment insurance (division) in the department of labor and employment to use the money for costs associated with bonds or notes issued by the division, including interest on the bonds or notes, to the extent permitted by federal law. The act eliminates the requirement for employers to submit premium reports to the division and instead requires employers to submit wage reports. APPROVED by Governor May 1, 2023 EFFECTIVE May 1, 2023 (Note: This summary applies to this bill as enacted.)

Bill Sponsors (4)

Votes


Actions


May 01, 2023

Office of the Governor

Governor Signed

Apr 27, 2023

Office of the Governor

Sent to the Governor

House

Signed by the Speaker of the House

Apr 26, 2023

Senate

Signed by the President of the Senate

Apr 18, 2023

Senate

Senate Considered House Amendments - Result was to Pass

Senate

Senate Considered House Amendments - Result was to Reconsider

Senate

Senate Considered House Amendments - Result was to Concur - Repass

Apr 15, 2023

House

House Third Reading Passed - No Amendments

Apr 14, 2023

House

House Second Reading Special Order - Passed with Amendments - Committee

House

House Committee on Appropriations Refer Amended to House Committee of the Whole

  • Committee-Passage
  • Referral-Committee
House Committee of the Whole Appropriations

Apr 05, 2023

House

Introduced In House - Assigned to Appropriations

  • Introduction
Appropriations

Apr 04, 2023

Senate

Senate Third Reading Passed - No Amendments

Apr 03, 2023

Senate

Senate Second Reading Passed with Amendments - Floor

Mar 30, 2023

Senate

Senate Second Reading Laid Over to 04/03/2023 - No Amendments

Mar 28, 2023

Senate

Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole

  • Committee-Passage
  • Referral-Committee
Senate Committee of the Whole Appropriations

Mar 24, 2023

Senate

Introduced In Senate - Assigned to Appropriations

  • Introduction
Appropriations

Bill Text

Bill Text Versions Format
Signed Act (05/01/2023) PDF
Final Act (04/27/2023) PDF
Rerevised (04/15/2023) PDF
Revised (04/14/2023) PDF
Reengrossed (04/04/2023) PDF
Engrossed (04/03/2023) PDF
Introduced (03/24/2023) PDF
PA1 (04/14/2023) PDF
Committee Amendment PDF

Related Documents

Document Format
Fiscal Note SA1 (03/27/2023) PDF
Fiscal Note SA2 (04/13/2023) PDF
Fiscal Note FN1 (03/27/2023) PDF
Fiscal Note FN2 (03/31/2023) PDF
Fiscal Note FN3 (04/06/2023) PDF
Fiscal Note FN4 (04/14/2023) PDF
Fiscal Note FN5 (05/24/2023) PDF

Sources

Data on Open States is updated periodically throughout the day from the official website of the Colorado General Assembly.

If you notice any inconsistencies with these official sources, feel free to file an issue.