HB 22-1305

HB 22-1305, also known as the Paid Family Medical Leave Premium Reduction bill, reduces the amount that employers have to pay into Colorado’s paid family and medical leave program. Starting January 1, 2023, through June 30, 2023, the employer contribution will drop from 0.9% of wages per employee to 0.81%. Additionally, the bill requires the state treasurer to transfer $57.5 million from the general fund to support this program. This bill has been signed into law and is now in effect, providing financial relief for employers while maintaining benefits for employees who need family or medical leave.

Official Summary

The bill reduces the premium paid by employers for the state's paid family and medical leave program, starting January 1, 2023, through June 30, 2023, from nine-tenths of 1% of wages per employee to eighty-one hundredths of 1% of wages per employee. The bill requires the state treasurer to transfer $57.5 million from the general fund to the family and medical leave insurance fund. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

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