HB 1230
modify requirements for payment of the employer's investment in South Dakota's future fee.
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- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill modifies how employers in South Dakota contribute to the state’s unemployment fund. Specifically, it requires employers not covered by a specific exemption to pay an ‘employer’s investment in South Dakota’s future fee’ along with their regular unemployment contributions. The rate of this fee is tiered based on the employer’s reserve ratio, which is determined by their experience rating. Employers can opt out of paying the fee by completing a specific form provided by the Department of Labor, and the department will treat any lack of form submission as an opt-out. Proceeds from the investment fee will be deposited into a separate fund.
Sponsors
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Primary sponsors
Karla Lems
Cosponsors
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