HI HB1085

Creates an Unemployment Insurance Technology Special Fund to be administered by the Department of Labor and Industrial Relations, funded by assessments collected from employers.

Imposes a new unemployment insurance technology assessment of 0.01 percent on taxable wages for all employers, except those using alternative financing methods for unemployment compensation liability.

Assessment collections occur at the same time and manner as regular unemployment contributions and cannot be deducted from employee wages.

Director must submit annual reports to the legislature at least 20 days before each regular session on fund status, expenditures, and program results.

Act takes effect January 1, 2024.