SD HB1230

Allows employers to opt out of paying the "employer's investment in South Dakota's future fee," which currently ranges from 0.00% to 0.55% on wages depending on the employer's reserve ratio

Requires the Department of Labor and Regulation to create an opt-in/opt-out form (maximum 8.5 x 11 inches) and distribute physical copies quarterly to each subject employer until they submit a completed form

Treats all employers who have not affirmatively opted in as having opted out, with no penalties for nonpayment by opted-out employers

Employers who opt in become subject to fee payment requirements at the beginning of the following calendar quarter; employers may later opt out using the same process

Fee proceeds are deposited in the employer's investment in South Dakota's future fund (separate from the unemployment compensation fund) and cannot be deducted from employee wages