Date: 05/01/2009

Final
BILL SUMMARY for HB09-1363

SENATE COMMITTEE ON BUSINESS, LABOR AND TECHNOLOGY

Votes: View--> Action Taken:
Moved to refer House Bill 09-1363 to the CommitteePASS



01:36 PM -- House Bill 09-1363

Senator Veiga presented House Bill 09-1363. The bill establishes the Unemployment Compensation Section in the Department of Labor and Employment as an enterprise as long as the section retains authority to issue revenue bonds and receives less than 10 percent of its total annual revenue from state and local grants. As an enterprise, revenue collected by the section will not be subject to Section 20 of Article X (TABOR) of the state constitution. Employers are required to pay premiums, premium surcharges, and a solvency surcharge, when applicable, instead of taxes, to fund the unemployment compensation benefit system. Senator Veiga explained the bill and responded to questions from Senator Harvey. She distributed a table illustrating the Unemployment Trust Fund (UI Trust Fund) forecast as of March 2009 (Attachment A).

09SenateBus0501AttachA.pdf

The following individual testified regarding the bill:

01:38 PM --
Wayne Peel, Chief Financial Officer, Colorado Department of Labor and Employment, testified in favor of the bill. He addressed Senator Harvey's questions and discussed the funding sources for the Unemployment Compensation Section of the department and the UI Trust Fund. Mr. Peel said the bill will ensure that the UI Trust Fund will not interact with the state's General Fund. Mr. Peel responded to questions from Senator Foster and Senator Scheffel regarding the effect of the bill on the UI program and TABOR refunds. Discussion continued among the members of the committee.
BILL:HB09-1363
TIME: 01:45:52 PM
MOVED:Veiga
MOTION:Moved to refer House Bill 09-1363 to the Committee of the Whole. The motion passed on a 6-0 roll call vote, with one member excused.
SECONDED:
VOTE
Foster
Yes
Harvey
Yes
Mitchell
Excused
Scheffel
Yes
Tochtrop
Yes
Heath
Yes
Veiga
Yes
Final YES: 6 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS



01:46 PM

The committee adjourned.