Unemployment Insurance Trust Fund (UITF) Summary Report
Statutory Cite:Next Due Date:Frequency:Report Status:Repeal Date:
8-72-101 (3)(b)Aug 31, 2020AnnualOngoing
HB 17-1272
HB 11-1288
8-72-101. Duties and powers of division

(3)(b) Notwithstanding the requirements in section 24-1-136 (ii)(a)(I), the department of labor and employment shall update the general assembly annually on the status of the fund during the hearing conducted pursuant to section 2-7-203, C.R.S. By August 31, 2012, and by each August 31 thereafter, the division shall report to the joint budget committee, the economic and business development committee of the house of representatives, and the business, labor, and technology committee of the senate, or their successor committees, regarding the status of the fund. The report shall include at least the following from the prior calendar year:

(I) Total fund revenues and expenditures;

(II) The highest and lowest trust fund balance from the prior calendar year and a comparison of those balances to the following three solvency measures: The reserve ratio, the high-cost multiple, and the average high-cost multiple;

(III) An analysis of the responsiveness of the funding mechanism to changes in economic conditions, both positive and negative;

(IV) An analysis of any material concerns identified by the division in fund solvency, revenue, and expenditures;

(V) An analysis of the impact of total premiums assessed to employers by employer size and employer experience;

(VI) The total amount of overpayments paid to claimants and the total amount of overpayments recovered; and

(VII) An analysis of measures taken by the division to reduce the total number and amount of overpayments and fraudulent payments.

8-72-101 (3)(b)       
Pursuant to Section 24-1-136 (9), C.R.S., Colorado state departments and agencies submit all statutorily required reports to Colorado Legislative Council staff. The Colorado Legislative Council staff delivers these reports to the appropriate legislative recipients and makes them available on this site. The Colorado Legislative Council is the non partisan research staff for the Colorado General Assembly.  If you have any questions, please contact the Colorado Legislative Council:; 303-866-3521.