Unemployment insurance 2022 Regular Session SF2677 Chapter 50, Article 1 Effective: Day following enactment Short description Used federal monies to replenish the outstanding loans from the federal unemployment insurance trust fund, so that employers would not have to bear the brunt of the increases due to the claims from COVID-19 pandemic. Summary The $2.7 billion plan replenished the unemployment insurance trust fund, which was emptied during the COVID-19 public health emergency. It used American Rescue Plan dollars to repay money borrowed from the federal government and return to the trust fund to pre-pandemic levels. Without action by the legislature, businesses would have had to pay to refill the fund through a surcharge and increased base rates on payroll taxes, which are paid quarterly. Businesses who had already paid their past due quarterly payments will either receive a refund, or a credit on their next unemployment insurance bill. Implications If you already paid your quarterly payment, you will either receive a refund or a credit on your next unemployment insurance bill. Bill language Chapter 50, Article 1: https://www.revisor.mn.gov/laws/2022/0/Session+Law/Chapter/50/ ARTICLE 1—UNEMPLOYMENT INSURANCE TRUST FUND Section 1. APPROPRIATION; UNEMPLOYMENT INSURANCE TRUST FUND LOAN REPAYMENT AND REPLENISHMENT. Subdivision 1. Appropriation. $2,324,175,000 from the state fiscal recovery federal fund and $405,825,000 from the general fund in fiscal year 2022 are appropriated to the commissioner of employment and economic development for the purposes of this section. Subd. 2. Repayment. Within ten days following enactment of this section, the commissioner must determine the sum of any outstanding loans and any interest accrued on the loans from the federal unemployment insurance trust fund, and issue payments to the federal unemployment trust fund equal to that sum. Subd. 3. Replenishment. Following the full repayment of outstanding loans from the federal unemployment insurance trust fund, the commissioner must deposit into the unemployment insurance trust fund all the remaining money appropriated in this section. EFFECTIVE DATE. This section is effective the day following final enactment. Sec. 2. UNEMPLOYMENT BASE TAX RATE AND ASSESSMENT FOR CALENDAR YEARS 2022 AND 2023.
CARE PROVIDERS OF MINNESOTA
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2022 LEGISLATIVE UPDATE BOOK