Date: 01/31/2012

Final
BILL SUMMARY for HB12-1127

HOUSE COMMITTEE ON ECONOMIC AND BUSINESS DEVELOPMENT

Votes: View--> Action Taken:
Moved amendment L.001 (Attachment F). The motion p
Moved to refer House Bill 12-1127, as amended, to 		Pass Without Objection
PASS



02:01 PM -- House Bill 12-1127

Representative Liston, prime sponsor, presented House Bill 12-1127 concerning elimination of an increase in the unemployment insurance premium rate for new employers. House Bill 11-1288 changed the way the unemployment insurance (UI) system is financed. It created a new premium rate schedule that becomes effective once the UI Trust Fund becomes solvent. Premium rates for new employers will range from 2.96 percent to 4.65 percent of the first $11,000 of an employee's wages. The rate depends on the reserve ratio of the UI Trust Fund, with a lower rate applied when the fund's reserves are high and a higher rate applied when the fund's reserves are low or the fund is insolvent. This bill reduces the rate for new employers to a 1.7 percent default rate. Prior to the new schedule taking effect, new employers are charged a 1.7 percent rate unless they have benefits charged against them from involvement in an earlier business entity. In that situation, they are charged a computed rate that takes those charges into account.

02:08 PM -- Wayne Peel, representing the Colorado Department of Labor and Employment, testified in favor of the bill and explained Amendment L.001 (Attachment F).

120131AttachF.pdf
BILL:HB12-1127
TIME: 02:13:39 PM
MOVED:Liston
MOTION:Moved amendment L.001 (Attachment F). The motion passed without objection.
SECONDED:Wilson
VOTE
Balmer
Holbert
Miklosi
Priola
Singer
Soper
Swerdfeger
Szabo
Tyler
Williams A.
Wilson
Swalm
Liston
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection


BILL:HB12-1127
TIME: 02:14:21 PM
MOVED:Liston
MOTION:Moved to refer House Bill 12-1127, as amended, to the Committee of the Whole. The motion passed on a vote of 13-0.
SECONDED:Wilson
VOTE
Balmer
Yes
Holbert
Yes
Miklosi
Yes
Priola
Yes
Singer
Yes
Soper
Yes
Swerdfeger
Yes
Szabo
Yes
Tyler
Yes
Williams A.
Yes
Wilson
Yes
Swalm
Yes
Liston
Yes
YES: 13 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS