Bill > SB26

This bill modifies South Dakota's unemployment insurance (reemployment assistance) system by adjusting employer contribution rates and administrative fees. For calendar years 2024 and 2025, the bill maintains a detailed contribution rate schedule that ties employers' tax rates to their reserve ratios, with rates ranging from 0% to 9.45% depending on an employer's financial standing. Starting in 2026, the bill introduces a slightly modified contribution rate schedule with slightly lower maximum rates (ranging from 0% to 9.39%). Additionally, the bill increases the administrative fee from two-hundredths of a percent (0.02%) to eight-hundredths of a percent (0.08%) for employers with a reserve ratio below 2.25% beginning in calendar year 2026. The bill also adjusts the investment fee rate schedule, which determines how much employers pay into South Dakota's future fund based on their reserve ratios. These changes are designed to manage the state's unemployment insurance system's financial health by adjusting employer contributions and fees based on their individual employment and financial performance.

Budget and Finance, Business and Industry

Commerce and Energy (Senate)

https://sdlegislature.gov/#/Session/Bill/25548