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SB23-234

State Employee Insurance Premiums

Concerning the cessation of advance payment of premiums for state employee family and medical leave insurance coverage, and, in connection therewith, transferring money from the family and medical leave insurance fund back to the revenue loss restoration cash fund.
Session:
2023 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

The act terminates the state's prepayment of insurance premiums for state employee coverage under the paid family and medical leave insurance program based on the state's advance payment of $57 million to the family and medical leave insurance fund from the revenue loss restoration cash fund in May 2022. The act terminates such prepayment at the end of fiscal year 2023-24 and requires the state treasurer to transfer $35 million back to the revenue loss restoration cash fund on or as soon as possible after the date on which the balance of the family and medical leave insurance fund reaches $100 million.

The act further requires that, on or as soon as possible after the date the state controller publishes the comprehensive annual financial report of the state for fiscal year 2023-24, the state treasurer shall transfer any actual additional unexpended amount of the state's $57 million advance payment from the family and medical leave insurance fund to the revenue loss restoration cash fund. The act makes a conforming amendment to the statute in which the revenue loss restoration cash fund is created.

APPROVED by Governor April 24, 2023

EFFECTIVE April 24, 2023
(Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

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Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    04/25/2023 Signed Act PDF
    04/12/2023 Final Act PDF
    04/06/2023 Rerevised PDF
    04/03/2023 Revised PDF
    03/30/2023 Reengrossed PDF
    03/29/2023 Engrossed PDF
    03/24/2023 Introduced PDF

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