HI HB2323

Temporarily reduces employer contribution rates for unemployment insurance by applying contribution rate schedule D for calendar year 2023 and schedule E for calendar year 2024, regardless of the reserve fund ratio.

Modifies the contribution rate tables in HRS §383-68(d) by increasing rates in the lower reserve ratio brackets (negative reserve ratios) from their previous levels, with increases ranging from 0.2 to 0.4 percentage points.

Takes effect retroactively to January 1, 2021, and automatically repeals on January 1, 2025, at which point prior law regarding contribution rate calculations based on reserve fund ratios will be restored.

Applies to all Hawaii employers subject to unemployment insurance contribution requirements under the employment security law.