HB 22-1133

House Bill 22-1133, which has been signed into law, requires the Colorado state treasurer to transfer $57 million from one fund to another specifically for family and medical leave insurance. This money is intended as an advance payment for state employees' coverage under a new program that provides paid time off for family or medical needs. The bill also mandates annual payments by the state until this initial amount is fully utilized, reducing other department budgets to cover these costs. This law affects all state employees who will benefit from the paid leave program and ensures funding is available for its implementation.

Official Summary

The act requires the state treasurer to transfer $57 million from the revenue loss restoration cash fund to the family and medical leave insurance fund for use by the division of family and medical leave insurance (division) created under the "Paid Family and Medical Leave Insurance Act" (PFMLIA). The transferred money is an advance payment of premiums for state employee coverage that the state is required to pay under the family and medical leave insurance program established by the PFMLIA. The division is required to credit the transferred money to state employer accounts and to annually continue to credit money to the state employer accounts until such accounts have a zero dollar balance and begin owing quarterly premiums as set forth in the PFMLIA. The executive director of the department of labor and employment is required to submit specified reports. The act reduces the appropriations to state departments for employer premium payments for state fiscal year 2022-23. (Note: This summary applies to this bill as enacted.)

Related Legislation

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