HB 2334 Summary

• Temporarily establishes fixed employer contribution rate schedules for unemployment insurance for calendar years 2022-2024, overriding the normal reserve fund ratio-based calculation method.

• Sets contribution rate schedule D for calendar year 2022, schedule E for calendar year 2023, and schedule F for calendar year 2024, regardless of the actual reserve fund ratio.

• Modifies the contribution rate table by capping rates at 5.4% for schedules D, E, F, G, and H during the specified years (reducing previous maximum rates of 5.6%, 5.8%, 6.0%, 6.2%, and 6.4%).

• Takes effect retroactively to January 1, 2022 upon approval.

• Sunsets on January 1, 2025, at which point the prior contribution rate calculation method is automatically restored.