ColoradoDivision Unemployment Insurance Funding Mechanism
What it does
The act updates the funding mechanism for the division of unemployment insurance (division) by changing the name of the "employment and training technology fund" to the "unemployment insurance program support fund" and expanding the use of the fund to include the information technology and administrative costs of the division.
More detail
Colorado law specifies how the division must disburse money collected from the employer support surcharge. The act modifies the disbursement of this surcharge 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 act 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 act ties the adjustments of the fund caps to the change in average weekly earnings instead of to the consumer price index. The act also adjusts the cap for the unemployment insurance program support fund. (Note: This summary applies to this bill as enacted.)
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Apr 28Governor Jared Polis SignedBecame Law
- Apr 17Sent to the GovernorTo Governor
- Apr 16Signed by the President of the Senate
- Apr 16Signed by the Speaker of the House
- Apr 10House Third Reading Passed - No AmendmentsPassed House
- Vote recorded BILL. Result: pass.Lower
- Apr 9House Second Reading Special Order - Passed - No Amendments
- Apr 8House Committee on Appropriations Refer Unamended to House Committee of the WholeMinor
- Apr 3Senate Third Reading Passed - No AmendmentsPassed Senate
- Vote recorded BILL. Result: pass.Upper
- Apr 3Introduced In House - Assigned to AppropriationsMinor
- Apr 2Senate Second Reading Special Order - Passed - No Amendments
- Apr 1Senate Committee on Appropriations Refer Unamended to Senate Committee of the WholeMinor
- Mar 31Introduced In Senate - Assigned to AppropriationsIntroduced