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SF 2677

1st Engrossment - 92nd Legislature (2021 - 2022) Posted on 02/09/2022 02:49pm

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
relating to unemployment insurance; repaying unemployment insurance trust fund
loans; replenishing the unemployment insurance trust fund; freezing the base tax
rate for employers; eliminating the additional assessment for calendar years 2022
and 2023; establishing a zero percent special assessment rate for calendar year
2022; appropriating money.

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

Section 1. new text beginAPPROPRIATION; UNEMPLOYMENT INSURANCE TRUST FUND
LOAN REPAYMENT AND REPLENISHMENT.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $2,730,000,000 from the general fund in fiscal year 2022
is appropriated to the commissioner of employment and economic development for the
purposes of this section.
new text end

new text begin Subd. 2. new text end

new text begin Repayment. new text end

new text begin Within ten days following enactment of this section, the
commissioner must determine the sum of any outstanding loans and any interest accrued
on the loans from the federal unemployment insurance trust fund, and issue payments to
the federal unemployment trust fund equal to that sum.
new text end

new text begin Subd. 3. new text end

new text begin Replenishment. new text end

new text begin Following the full repayment of outstanding loans from the
federal unemployment insurance trust fund, the commissioner must deposit into the
unemployment insurance trust fund all the remaining money appropriated in this section.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end

Sec. 2. new text beginUNEMPLOYMENT BASE TAX RATE AND ASSESSMENT FOR
CALENDAR YEARS 2022 AND 2023.
new text end

new text begin Subdivision 1. new text end

new text begin Tax rate. new text end

new text begin Notwithstanding Minnesota Statutes, section 268.051,
subdivision 2, in calendar years 2022 and 2023, the base tax rate under Minnesota Statutes,
section 268.051, subdivision 2, paragraph (b), is one-tenth of one percent.
new text end

new text begin Subd. 2. new text end

new text begin Additional assessment. new text end

new text begin Notwithstanding Minnesota Statutes, section 268.051,
subdivision 2, in calendar years 2022 and 2023, the additional assessment under Minnesota
Statutes, section 268.051, subdivision 2, paragraph (c), is zero percent.
new text end

new text begin Subd. 3. new text end

new text begin Special assessment. new text end

new text begin Notwithstanding Minnesota Statutes, sections 268.051,
subdivision 8, and 268.194, subdivision 6, paragraph (c), in calendar year 2022, the special
assessment under Minnesota Statutes, section 268.051, subdivision 8, is zero percent.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end