HF 577

as introduced - 88th Legislature (2013 - 2014) Posted on 02/14/2013 01:56pm

A bill for an act
relating to unemployment insurance; reducing employer tax rates.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin UNEMPLOYMENT INSURANCE EMPLOYER TAX RATE
REDUCTION.
new text end

new text begin Notwithstanding Minnesota Statutes section 268.051, subdivision 2, if on
September 30, 2013, the balance in the Minnesota unemployment trust fund is more than
$800,000,000, the base tax rate for the calendar year beginning January 1, 2014, will be
0.1 percent and there will be no additional assessment assigned. If on September 30, 2014,
the balance in the Minnesota unemployment trust fund is more than $900,000,000, the
base tax rate for the calendar year beginning January 1, 2015, will be 0.1 percent and there
will be no additional assessment assigned.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment
and sunsets on December 31, 2015.
new text end