HB1186 modifies South Dakota's employer investment fee (a charge on wages paid into the unemployment compensation fund) by updating the formula that determines fee rates based on each employer's reserve ratio, with changes taking effect for calendar year 2024 and beyond. The bill adjusts the reserve ratio thresholds and corresponding fee percentages in the rate schedule, generally lowering the investment fees employers must pay as their reserve ratios improve. This represents a revision of the existing fee structure rather than a complete repeal, though the bill's title indicates eventual repeal may be planned.
House of Representatives Reconsidered Failed, YEAS 32, NAYS 36. H.J. 399
House of Representatives Intent to reconsider H.J. 394
House of Representatives Do Pass Failed, YEAS 32, NAYS 38. H.J. 393
State Affairs Do Pass Passed, YEAS 9, NAYS 2.
State Affairs Scheduled for hearing
House of Representatives Referred to House State Affairs H.J. 171
First Reading House H.J. 154
Prime sponsor · Rep
R
Dist. HD-027
Do Pass
Reconsidered
State Affairs — Do Pass