Bill of the Day SB22-234, Unemployment Compensation
Sections 1, 7, and 9 of the bill amend the existing authority of the division of unemployment insurance (division) to issue bonds by:
- Clarifying that the division may issue the bonds through the state treasurer; and
- Granting the division the authority to levy bond assessments.
Current law provides a temporary increase in partial unemployment benefits. Section 2 makes this temporary increase permanent.Section 3 repeals the requirement that an individual wait at least one week before becoming eligible for unemployment compensation. This repeal will take effect when the unemployment compensation fund reaches a balance of at least $1 billion.Section 4 requires the division to study how to implement a dependent allowance for individuals receiving unemployment compensation.Sections 4 and 10 require the department of labor and employment to award grants to one or more third-party administrators for the purpose of providing recovery benefits to eligible individuals. The grants to the third-party administrators and the recovery benefits are funded through .00035 of the premium each employer is required to submit to the division. An individual is eligible to receive recovery benefits if the individual, regardless of the individual’s immigration status:
- Separated from employment through no fault of the individual;
- Received income from employment during a qualified base period or alternative base period;
- Attests that the individual is not currently receiving any state-administered wage replacement assistance;
- Is not eligible for state-administered wage replacement assistance for reasons related to the individual’s authorization to work; and
- Has a pay stub or form W-2 to verify the individual’s employment and wage withholding.
Section 5 requires an employer to provide an employee with certain information about unemployment compensation upon the employee’s separation from employment.Section 6 extends the hold on an employer’s solvency surcharge through calendar year 2023.Sections 8 and 12 require the state treasurer to transfer $600 million to a newly created fund. The transfer is from money received by the state through the federal “American Rescue Plan Act of 2021”. The money in the fund may be used only to repay the outstanding balance of federal advances provided to the state through the unemployment insurance trust fund and interest owed on the advances.
Current law requires an individual to repay the division for overpaid unemployment compensation benefits unless the division finds that repayment would be inequitable. Section 11 sets forth factors that the division must consider in determining whether repayment would be inequitable.
(Note: This summary applies to this bill as introduced.)
Greg Lopez on Learning From Past Mistakes
Greg Lopez, candidate for governor, joins Kim for an interview on his plans as governor and his criticism of Governor Polis’s handling of the pandemic. Lopex also opens up about a domestic incident early in his marriage and the issue with the Small Business Administration where he paid a $15, 000 fine to settle a civil issue. Lopez is proactively discussing these personal issues as a proactive away of defusing political attacks from other candidates. Learn more about Lopez’s campaign here. Go here to support Lopez.
Also in Today’s Episode of The Kim Monson Show (April 28, 2022)
Ret. Air Force Lt. Col. Bill Rutledge joins Kim to share his perspectives on Roe v Wade and COVID-19. He shares the story of his wife’s passing from COVID. Rep. Stephanie Luck joins Kim to discuss her survey to collect information regarding how people were impacted by Colorado’s COVID-19 policies. You can take the survey here.